Enugu, Kogi, Anambra cannot be recognised as oil-producing states - DPR declares

Enugu, Kogi, Anambra cannot be recognised as oil-producing states - DPR declares

- The Department of Petroleum Resources (DPR) said Enugu, Anambra and Kogi cannot be categorised as oil-producing states

- The DPR explained that the three affected states are yet to meet the conditions that would give them the status

- A Senate committee is currently investigating issues relating boundary disputes among the three states

Enugu, Anambra and Kogi cannot be declared as oil-producing states, the Department of Petroleum Resources (DPR) said on Thursday, May 2.

Legit.ng learnt that the DPR argued that the three states have not met the requirement to be declared as oil-producing.

Vanguard reports that in a letter to the committee on petroleum (upstream) led by Tayo Alasoadura, the senator representing Ondo central on the platform of the All Progressives Congress (APC), the DPR gave details.

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The organisation explained that the states can only be recognised with such status if they meet the conditions, part of which is that the oil firm in their area, Orient Oil, scales up its operations from oil prospecting to oil mining lease.

Senator Tayo Alasoadura said the issue that was at stake had to do with the boarder between the three states, but that a report that the federal government confirmed Anambra’s oil producing ‎status, brought up the matter.

Alasoadura, however noted that his committee does not have the power to declare a state oil-producing.

He said the committee understands that the National Boundary Commission (NBC) is in the best position to settle the matter is the National Boundary Commission, but it wrote to the DPR without a satisfactory response.

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Legit.ng earlier reported that oil price hit a 2019 high above 69 dollars a barrel on Tuesday, April 2, on the prospect that more sanctions against Iran and the Venezuelan disruptions could deepen an OPEC-led supply cut, and as the market became less worried that demand may reduce.

The United States is considering more sanctions against Iran, whose oil exports have been halved by existing measures, an official said.

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A key crude terminal in Venezuela, also under U.S. sanctions, has halted operations again.

The report said crude rose 10 cents to 69.11 dollars a barrel by 0826 GMT, having touched 69.50 dollars, the highest since mid-November. US crude was up 11 cents at 61.70 dollars after rising above 62 dollars for the first time since early November.

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Source: Legit

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