There were reports that the naira-based crude oil supply arrangement with local refineries has been discontinued.
The company argued that allowing the transaction to proceed would jeopardise its ability to enforce any favourable judgment or arbitration award.
A bill for an act to prohibit gas flaring, encourage gas utilisation and provide for penalties and remedies for gas flaring violations and related matters has scaled second reading in the House of Representatives
The management of Dangote Petroleum Refinery says it is not yet getting enough crude required for the effective optimisation of its refinery from the NNPC.
“Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission for the sale of NAOC Ltd to Oando Plc,” the oil company said.
He said the project is meant to be completed within six months.
The Nigerian Upstream Petroleum Regulatory Commission outlined available licensing opportunities at the IAE forum, organized by Energy Capital & Power, in Paris on Wednesday
Wole Ogunsanya, PETAN chairman, disclosed this at the just-concluded Offshore Technology Conference in Houston, Texas, U.S.
He was optimistic that implementing these initiatives would increase revenues generated for the government.
![Nigerian Upstream Petroleum Regulatory Commission[ Credit: Punch Newspaper]](https://gazettengr.com/wp-content/uploads/NUPRC-22.png)
The Bayelsa oil communities expressed their position in a statement issued on Sunday in Yenagoa.
