Heineken Lokpobiri, minister of state petroleum resources (oil), has held a meeting with Aliko Dangote, chairman and chief executive officer (CEO) of Dangote Group and Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ‘resolve ongoing issues’….CLICK HERE TO CONTINUE READING>>

Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Mele Kyari, group CEO of the Nigerian National Petroleum Corporation (NNPC) Limited were also at the meeting.

The meeting was held on Monday according to a statement by Nneamaka Okafor, special adviser on media and communication to the minister.

Okafor said stakeholders expressed their gratitude to the minister for his prompt intervention in facilitating the important dialogue.

The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving,” she said.

According to the statement, the meeting marks a significant step towards resolving the challenges and underscores the minister’s dedication to fostering a conducive environment for Nigeria’s oil and gas sector.

In a separate statement, Lokpobiri emphasised the importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of Nigeria’s oil and gas sector, which he said is essential for the country’s economic growth and energy security.

On June 4, Dangote said some international oil companies (IOCs) are struggling to supply crude to his refinery.

However, on July 15, Komolafe described the claim as “erroneous”, adding that the Petroleum Industry Act (PIA) has provisions that guide willing buyer-willing seller transactions.

A few days later, the management of Dangote Industries Limited, the parent company of Dangote Petroleum Refinery, said the IOCs were frustrating its request to purchase crude feedstock for the refinery.

On July 18, CEO of NMDPRA said local refineries, including the Dangote refinery, were producing inferior products compared to imported ones.

As the feud lingered, Dangote, on July 22, said he was willing to sell his oil refinery to NNPC.

…CLICK HERE TO CONTINUE READING>>