Business a.m.
Dangote Refinery has refuted recent media reports claiming that the refinery received 60 percent of the 50 million barrels of crude oil it obtained from the Nigerian National Petroleum Corporation (NNPC).
Dangote Refinery, in a statement to clarify the report, asserted that the claims made by certain media outlets are unfounded and inaccurate.
In response to the allegations, Anthony Chiejina, group chief branding and communications officer for Dangote Refinery, maintained that the refinery has never leveled accusations against NNPC for failing to deliver crude oil.
Chiejina explained further that the primary concern raised by Dangote Refinery revolves around the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its enforcement of the domestic crude supply obligation as defined in the Petroleum Industry Act (PIA).
“For September, our requirement stands at 15 cargoes.
“NNPC has allocated six cargoes to us. Despite our appeals to NUPRC, we have been unable to secure the remaining cargoes. We have also sought assistance from International Oil Companies (IOCs) operating in Nigeria, but have been redirected to their international trading arms or informed that their cargoes were already committed,” he stated.
Further elaborating on the financial implications of this situation, Chiejina revealed that Dangote Refinery is frequently forced to purchase Nigerian crude from international traders, often at a premium of $3-$4 per barrel, with the additional cost, amounting to $3-$4 million per cargo.
The Dangote group chief branding and communications officer reaffirmed Dangote Refinery’s commitment to pursuing the full enforcement of domestic crude supply obligations, imploring NUPRC to guarantee that the refinery receives the entirety of its crude requirement from domestic sources.
