FG reviews expired oil licences for possible extension

The Federal Government is currently considering extension requests for licenses that have expired from oil companies, an action that will enable them to keep control of their property even after the year 2026.

Verification by our correspondent revealed that the oil companies with expired licenses have filed extension requests to keep operating the respective oil and gas properties.

The review is expected to determine whether the operators will be granted additional tenure to retain control of the assets after 2026.

A source at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said: “The companies have applied for extensions, and the applications are currently being reviewed. It is a normal practice.”