NUPRC Responds To Dangote Refinery: We’ve Delivered 29 Million Barrels Of Crude Oil

NUPRC Responds To Dangote Refinery: We’ve Delivered 29 Million Barrels Of Crude Oil

Dangote Refinery had previously accused the NUPRC of not enforcing the domestic crude supply obligations, claiming it did not receive its full crude requirements from the Nigerian National Petroleum Company (NNPC) Limited and international oil companies (IOCs)…….. CONTINUE READING

In response, the NUPRC issued a statement from Abuja on Friday, clarifying that it had facilitated the supply of 29 million barrels of crude oil to Dangote Refinery between January and June. The Commission emphasized its commitment to Section 109 of the Petroleum Industry Act (PIA) 2021, which mandates the domestic supply of crude to local refineries on a ‘willing buyer, willing seller’ basis. Despite challenges from low oil production, the NUPRC ensured that nine refineries received crude.

The NUPRC noted that although it has developed the Domestic Crude Supply Obligation (DCSO) framework to enforce these obligations, it faced criticism from Dangote Refinery for perceived weak enforcement. The Commission has facilitated over 32 million barrels of crude oil to domestic refineries, including Dangote.

Additionally, the NUPRC has required crude producers to provide copies of all crude oil sales and purchase agreements or any related security interests. It has also engaged with Dangote and other local refiners to ensure compliance with their supply quotas in line with the PIA.

The Commission reported that it utilized the monthly production curtailment platform to facilitate the supply of crude oil to Dangote and other refiners, contributing to Nigeria’s energy security. In the first half of 2024, nine refineries received a total of 32,088,122 barrels of crude, with Dangote Refinery receiving 29,047,098 barrels.

For the latest updates and juicy gossip, dive into the Bushradiogist platform by clicking this link: Bushradio. For advert placement only, shoot a WhatsApp message to 0807 580 6790.