Sarki Auwalu
DPR revokes Addax Petroleum oil mining licences
File Photo The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OML) belonging to Addax Petroleum due to the non-development of the assets by the petroleum company. The affected assets are OML 123, 124, 126 and 137. Speaking during an interactive session with journalists in Lagos on Tuesday, the Director/Chief Executive Officer, DPR, Mr. Sarki Auwalu, who disclosed this, said it was discovered that over 50 per cent of the assets had remained underdeveloped, which he said was resulting to loss of revenue to the federal government. According to him, “Addax refused to develop the assets and Addax were therefore not operating the assets.” The DPR boss pointed out that going by the country’s Petroleum Act, “the first reason for a revocation is when you discover that...
DPR: Market forces should determine gas prices
File Photo The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. According to him, the levers include availability, accessibility, a...
DPR to upgrade downstream petroleum sector operations
File Photo The Department of Petroleum Resources, DPR, Tuesday, disclosed that it plans to upgrade operations in the downstream petroleum industry, leveraging on its ongoing automation process. In a statement in Abuja, Director/Chief Executive Officer of the DPR, Engineer Sarki Auwalu, stated that the upgrade would be to global standards and would be driven by its deployment of improved technology. Auwalu, who was speaking at a virtual meeting with members of the Major Oil Marketers Association of Nigeria, MOMAN, in Abuja, noted that the DPR was currently deploying appropriate technology to enhance value for operators and investors alike in the downstream sector . Specifically, Auwalu explained that the DPR had concluded plans to launch the Downstream Remote Monitoring Systems, DRMS, an in...
