Dangote Refinery Boosts Domestic Crude Oil Processing, Reduces US Imports –Report
The increasing reliance on domestic oil sources by Dangote Refinery signals a significant step towards reducing Nigeria’s dependence on foreign oil and promoting local production.
Nigeria’s Dangote mega-refinery is increasingly relying on domestic oil sources for processing, while imports from the US are declining.
They asked the regulators to allow the sale of crude to the Dangote Petroleum Refinery and other local refineries to be based on a “willing buyer, willing seller” basis.
SaharaReporters has previously reported that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on August 12, unveiled crude oil producers’ production forecast for the second half (H2) of 2024, stating that producers would sell crude to local refineries.
However, the IPPG Chairman Abdulrazak Isa, raised concerns in a letter dated August 16, 2024, and addressed to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe.
He said that the NNPC should utilise its allocated 445,000 barrels per day intervention crude oil volume to salvage the current situation as it did in many instances in the past, noting that where NNPC’s quota didn’t meet the demand, it should strictly be treated as export volumes.
