Dangote Refinery has addressed recent media reports concerning the supply of crude oil to its facility….CLICK HERE TO CONTINUE READING>>

The refinery refuted claims that it acknowledged receiving 60 per cent of the 50 million barrels it lifted from the Nigerian National Petroleum Corporation (NNPC). Speaking via a statement by its Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery explained that it has never accused NNPC of failing to provide crude oil.

The company explained that their issue lies with the the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its enforcement of the domestic crude supply obligation as outlined in the Petroleum Industry Act (PIA).

Chiejina said, “For September, our requirement stands at 15 cargoes….CLICK HERE TO CONTINUE READING>>

“NNPC has allocated six cargoes to us. Despite our appeals to NUPRC, we have been unable to secure the remaining cargoes. We have also sought assistance from International Oil Companies (IOCs) operating in Nigeria, but have been redirected to their international trading arms or informed that their cargoes were already committed.”

Chiejina highlighted the financial impact of this shortfall, noting that the refinery is often compelled to purchase Nigerian crude from international traders at an additional premium of $3-$4 per barrel, amounting to an extra $3-$4 million per cargo.

Dangote Refinery continues to advocate for the full enforcement of domestic crude supply obligations, urging NUPRC to ensure that the refinery receives its full crude requirement from local production sources.