More
    HomeBusiness NewsEconomyDangote clarifies stand on crude supply

    Dangote clarifies stand on crude supply

    Published on

    spot_img

    Dangote Refinery Limited has clarified its position on the supply of crude oil to its refinery by the Nigerian National Petroleum Company Limited, NNPCL, stating that it never accused the NNPCL of not supplying crude to its refinery.

    The firm made the clarification on Thursday in a statement signed by Anthony Chiejina, the Dangote Group’s Chief, Branding and Communications Officer, and made available to newsmen.

    The statement read thus: “Our attention has been drawn to media reports alleging that the Dangote Refinery has backtracked by acknowledging that NNPC supplied about 60% of the 50 million barrels we lifted.

    READ ALSO:Oil & Gas industry is bleeding —- Kyari

    READ ALSO:Refinery: Minister of Petroleum hosts crucial meeting with Dangote, NMDPRA, NUPRC, NNPC leadership

    “To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply obligation and ensure that we receive our full crude requirement from NNPC and the IOCs.

    “For September, our requirement is 15 cargoes, of which NNPC allocated six. Despite appealing to NUPRC, we’ve been unable to secure the remaining cargoes. When we approached IOCs producing in Nigeria, they redirected us to their international trading arms or responded that their cargoes were committed.

    “Consequently, we often purchase the same Nigerian crude from international traders at an additional $3-$4 premium per barrel which translates to $3-$4 million per cargo.

    “We therefore still insist that we are unable to secure our full crude requirement from domestic production and urge NUPRC to fully enforce the domestic crude supply obligation as mandated by the PIA.”

     

    Kindly share this story:

    Contact: editor@thereporterng.com

    Stay informed!
    Follow us on: X.com: @TheReporter2024
    Follow us on: Facebook: TheReporterNigeria
    WhatsApp for breaking news, updates and exclusive content. Don't miss a headline – Click below to join now!
    WHATSAPP

    Latest articles

    FIRS reveals identities of staff killed in Lagos fire 

    The Federal Inland Revenue Service Firs has confirmed the identities of four of its...

    Ekiti invests over N200bn in road development—Oyebanji

    Ekiti State Governor Mr Biodun Oyebanji, on Wednesday revealed that his administration has invested...

    Zakat Foundation disburses over ₦5bn in 25 years, empowers 100,000 Nigerians

    The Zakat and Sadaqat Foundation has announced that it has disbursed more than ₦5...

    BREAKING! Tinubu restores democratic rule in Rivers

    PRESIDENT Bola Tinubu has lifted the six months State of Emergency he declared in...

    More like this

    FIRS reveals identities of staff killed in Lagos fire 

    The Federal Inland Revenue Service Firs has confirmed the identities of four of its...

    Ekiti invests over N200bn in road development—Oyebanji

    Ekiti State Governor Mr Biodun Oyebanji, on Wednesday revealed that his administration has invested...

    Zakat Foundation disburses over ₦5bn in 25 years, empowers 100,000 Nigerians

    The Zakat and Sadaqat Foundation has announced that it has disbursed more than ₦5...