The Nigerian Upstream Petroleum Regulatory Commission has broken down why a new company won oil blocks in the 2024 licensing bid round.
This is coming after several complaints over Panout Oil & Gas, an eight-day-old oil company (as of the time of the bid), winning oil blocks.
At the licensing round commercial bid conference held in Lagos last December, Panout Oil & Gas beat TotalEnergies and 3 other bidders to secure PPL 300/301 CS and PPL 3015.