Nigerian Government Gives Operators Ultimatum To Identify Oil Well Owners

The Nigerian Upstream Petroleum Regulatory Commission issued a seven-day ultimatum for all lease and license holders operating in Nigeria’s oil and gas sector, to disclose the real owners of their companies. <br />Chief Executive, Gbenga Komolafe, says the commission demanded that the information to be disclosed must include the identity of the beneficial owner the level of ownership, and details of how control is exerted. <br />He stressed that the full list of real owners of their companies is submitted to the commission. <br />Komolafe says the NUPRC is fully committed to working with NEITI to deepen Nigeria’s implementation of contract transparency and beneficial ownership disclosures in the country. <br />