Contrary to media reports, Dangote Refinery has not backtracked on its claims regarding crude oil supply from the Nigerian National Petroleum Company (NNPC).
Anthony Chiejina, Group Chief, Branding and Communications Officer, clarified the company’s position in a statement on Friday.
Dangote Refinery emphasized that it has never accused NNPC of failing to supply crude oil.
Instead, the company has consistently expressed concerns about the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) reluctance to enforce domestic crude supply obligations.
The statement explained that Dangote Refinery requires 15 cargoes of crude oil for September, but NNPC only allocated six.
Despite appeals to NUPRC, the company has been unable to secure the remaining cargoes from NNPC or International Oil Companies (IOCs) producing in Nigeria.
As a result, Dangote Refinery is forced to purchase Nigerian crude from international traders at a premium of $3-$4 per barrel, translating to an additional $3-$4 million per cargo.
The company reiterated its call for NUPRC to fully enforce the domestic crude supply obligation as mandated by the Petroleum Industry Act (PIA).
