Business
Dangote insists on not having access to full crude required from NNPC
Amidst crude oil controversy between the management of NNPC and Dangote refinery, te Management of Dangote Petroleum Refinery has insisted that it is not yet getting enough crude required for the effective optimization of its refinery from the Nigerian National Petroleum Corporation Limited (NNP).
While speaking on the matter in a release signed by Group Chief, Branding and Communications Officer, Anthony Chiejina revealed that, “we therefore still insist that we are unable to secure our full crude requirement from domestic production and urge the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to fully enforce the domestic crude supply obligation as mandated by the PIA.”
The Refinery Management, clarified that his company has 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.”
He further explained that “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.”
-
Metro/Crime6 days ago
Video: “I use different uniforms, ID card on special robbery operations” – Dismissed Nigerian Soldier confesses
-
Metro/Crime7 days ago
Popular Nigerian movie actor is dead (Photo)
-
Politics4 days ago
OndoDecides: See official results collated per Local Government
-
Osun News2 days ago
Arrested OSTMS Chairman, Alowonle On Life Support, As Govt Seeks Prosecution Head of Anti-Kidnapping Squad
-
Politics4 days ago
Tinubu sacks top government official, names replacement (photos)
-
Osun News2 days ago
Police Arrest Gov Adeleke’s aide, Alowonle
-
Politics4 days ago
OGSIEC Announces 2024 Local Government Election Results
-
Politics7 days ago
Tinubu Appoints Ex-Atiku Spokesperson, Bwala, others