NNPCL Sets To Supply Fresh 17.8m Barrels Of Crude Oil To Dangote Refinery

Posted on September 5, 2024

This morning on AriseNews Morning Show, Mr. Adedapo Segun, Vice President, Downstream at NNPCL revealed that the Dangote Refinery between September and November will receive additional 17.8million barrels of crude oil as part of the Federal Government push to drive local production of petroleum products.

 

So far, the state owned oil company has supplied 30 million barrels of crude to the refinery to start its operation. Dangote Refinery announced early in the week , at a press briefing addressed by its Group Chief Executive, Aliko Dangote, that it is now ready to release its PMS to the market.

 

According to Mr. Adedapo,
6.8m barrels in 7 cargoes of crude oil will be delivered to Dangote Refinery in September, while another 11 million barrels will be delivered in November.

 

The VP Downstream further revealed why NNPCL is the sole importer of PMS in the country, noting that market conditions have not made it possible for independent marketers to bring in products as a result of forex illiquidity and pump price that is far below landing cost.

 

Contrary to media reports that Dangote Refinery will only sell products to NNPCL as sole off taker, Mr. Adedapo said that Dangote will sell products to other marketers once the market conditions are right for them to play, adding that NNPCL for now will act in public interest as provider of last resort as provided for in the Petroleum Industry Act.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

The Orashi National Congress (ONC) has expressed deep disappointment over the actions of the... Continue
The Executive Chairman of Ojodu LCDA, Lagos State, Hon. Segun Odunmbaku, has flagged off... Continue
In the latest episode of African Voices Changemakers, CNN’s Larry Madowo meets Cecil and... Continue
The Director-General, Nigeria Employers’ Consultative Association (NECA), Mr. Adewale Smatt-Oyerinde has called for a... Continue
As part of activities marking International Women’s Day 2025, John and Lucy Umenwa Foundation... Continue
Ms. June Ashimola, a Nigerian woman who was falsely declared dead, has appeared in... Continue
FUNSHO AROGUNDADE Almost two years after Isale Eko Descendants Union dragged producers of the... Continue
Dr. Aisha Achimugu, a frontline businesswoman and founder of the Aisha Achimugu Foundation has... Continue
Southeast Kaduna Branch of the Manufacturers Association of Nigeria (MAN) has recently appointed Nigerian... Continue
Renowned Politician and Philanthropist, Chief Ugochukwu Okeke, is among the exceptional individuals to receive... Continue

UBA

DANGOTE AD

GLO


Access Bank

Twitter

Sponsored