Index to Nigerian Newspapers

NNPCL Allocates Six Million Barrels to Dangote Refinery

The Nigerian National Petroleum Company Limited, on Thursday, said it was set to provide six million barrels of crude oil to the Dangote Refinery. On Thursday, The PUNCH exclusively reported that crude oil shortage was delaying the take-off of Dangote refinery and five others, as the Federal Government admitted that the lack of supply to Dangote was shameful and blamed it on low oil production. But in what could be described as a reaction to the report, sources at the NNPCL stated that the oil firm was set to deliver six million barrels of crude oil to the refinery in December. Meanwhile, insiders close to both parties confirmed that the deal was purely on a commercial basis and without any recourse to discount, or selling at rock-bottom prices, as speculated by a section of the media. Section 109 of the Petroleum Industry Act (2021) stipulates domestic crude oil supply obligations to refineries, including the Dangote Refinery, NNPCL refineries in Port-Harcourt, Warri, Kaduna and modular refineries. The section also provides that the supply of crude oil to the domestic market shall be on a willing buyer and willing supplier basis.

Nnodim Okechukwu | Dangote Refinery (Nigeria) | Punch Newspaper | Friday, November 03, 2023