Nigeria’s state-owned oil firm NNPC Ltd said on Saturday it will not be the sole buyer of gasoline from Dangote refinery but would step in if the facility sold above pump prices.
Despite promises that it would begin petrol production between August 10 and 12, 2024, the Dangote Petroleum Refinery may postpone the roll out of Premium Motor Spirit (PMS).
The Organisation of Petroleum Exporting Countries (OPEC), has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil.
As Dangote’s refinery struggles to secure domestic crude, allegations of price gouging and supply obstruction by international oil companies raise questions about Nigeria’s oil market.
Africa’s largest refinery, the Dangote facility in Nigeria, is actively seeking crude oil supplies from Libya and Angola. This move comes as the refinery faces difficulties obtaining adequate domestic crude due to theft, pipeline vandalism, and low investment in Nigeria’s oil sector.
Once seen as a potential solution to Nigeria’s reliance on fuel imports, the refinery’s development has been plagued by uncertainty, leading to questions about its ability to meet the country’s energy needs.
The Dangote Refinery said it is seeking crude oil import from Libya and Angola amid a supply challenge in Nigeria.
Dangote Refinery is upbeat its 650,000 barrel-per-day capacity crude processing plant will commence sales to fuel marketers in August.
The Nigerian Union of Petroleum and Natural Gas Workers, NUPENG and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN have called on President Bola Tinubu to initiate an investigation into allegations that International Oil Companies are plotting to undermine the Dangote Refinery and Petrochemicals.
Dangote Industries Limited (DIL) has accused the International Oil Companies (IOCs) operating in Nigeria of actively hindering the Dangote Oil Refinery’s operations.