Crude Oil Refinery Owners Association of Nigeria is excited with the 60 per cent crude oil supplied to the 650,000 barrels per day Dangote Petroleum Refinery and Petrochemicals by the Nigerian National Petroleum Company Ltd. The chairman of the association, Momoh Oyerekhua, said on Thursday on Arise TV that the decision of President Bola Tinubu to sell crude in naira to local refineries would assist the domestic players.....KINDLY READ THE FULL STORY HERE▶
He said that feedstock issues have been a major constraint of domestic refining.
Oyerekhua said, “We were happy when we actually heard the pronouncements by presidency that NNPC should supply crude to local refineries and that we should pay in Naira.
“I’ve been an advocate of that. That crude should be supplied to local refinery in Naira if we have to reduce the cost.
“Dangote, I saw in the papers this morning that NNPC has supplied about 60 percent of the crude.”
The Group Chief Strategy Officer, Dangote Refinery and Petrochemicals Company, Aliyu Suleiman had on Wednesday, stated that 60 per cent of the crude supplied to the refinery was done by the Nigerian National Petroleum Company Limited.
Suleiman revealed that out of the five million barrels of crude oil they got in recent time, “NNPC gave them 60 per cent, 20 per cent was imported, and 20 per cent was purchased”.
The revelation is contrary to numerous claims made by the refinery that the NNPCL and International Oi Companies were denying the company crude oil.
Dangote group chief commercial officer, Rabiu Umar had claimed that the NNPC supplies only 33 per cent of crude to the Dangote Refinery. He had claimed that the refinery sources the remaining 67 per cent elsewhere.
But the state-owned-company denied all wrongdoing and emphasised that it has consistently played its role in line with its mandate to provide energy security for Nigerians.
