Politics
Federal Government Orders International Oil Companies To Supply Crude To Dangote Refinery
Federal Government Orders International Oil Companies To Supply Crude To Dangote Refinery....KINDLY READ THE FULL STORY HERE▶
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced its plan to compel international oil companies (IOCs) to provide crude oil to the Dangote oil refinery……… CONTINUE READING
According to Olaide Shonola, spokesperson for NUPRC, this intervention aims to ensure local crude sales to Dangote and other domestic refineries.
Shonola made this statement in response to claims by the Dangote Group Chairman regarding the reluctance of IOCs to sell crude to the refinery.
In an interview with The PUNCH, Shonola emphasized the commission’s commitment to engaging with IOCs, indicating that while they can’t force compliance, they can mandate it through clear directives.
However, Shonola declined to comment on potential sanctions, stressing that the focus is on providing clear directives within the regulatory framework.
In a separate interview with CNN, Aliko Dangote expressed frustration with IOCs’ reluctance to sell crude to the 650,000 barrels capacity refinery, citing their preference for exporting crude for foreign exchange.
Dangote noted that while the Nigerian National Petroleum Company Ltd strives to supply feedstock, IOCs are hesitant to halt exports.
Highlighting the refinery’s potential impact, Dangote revealed plans to process 21 million barrels of crude from Nigeria monthly, reducing CO2 emissions and eliminating the need for 21 ships to import or export oil into Africa.
Despite the NUPRC’s directive in April mandating crude sales to domestic refineries, IOCs appear to be non-compliant, posing challenges to the refinery’s operations.
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