Aliko Dangote, the president of the Dangote Group, has said that although they requested 15 cargoes of crude oil, NNPC only gave them six, leaving the refinery short of the amount of petroleum it needs.CONTINUE FULL READING>>>>>
He stated that the refinery has made several appeals to the NUPRC to secure the remaining cargoes, but these efforts have been unsuccessful. He revealed that when they approached International Oil Companies (IOCs) operating in Nigeria for additional crude supplies, they were either redirected to the IOCs’ international trading arms or informed that the available cargoes had already been committed elsewhere.
He said in a report by Vanguard, ”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. 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.
We requested for 15 cargoes of Crude but NNPC allocated only six to us. 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.
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.”CONTINUE FULL READING>>>>>
