The Nigerian National Petroleum Company Limited (NNPCL) has allocated a total of 48.6 million barrels (mb) of crude oil to Dangote Petroleum Refinery in the past 10 months.
The report by Vanguard newspaper said 3.4 million barrels (mb) were supplied in December 2023 while 3.5 million barrels were supplied in February 2024.
Quoting official data, the newspaper said that 3.3md, 3.3mb, 3.0mb, 5.1mb, 5.1mb, 4.8mb and 5.6mb were supplied to the refinery in March, April, May, June, July, August and September 2024 respectively.
“The transaction has already recorded 11.7mb for October 2024 deliveries,” the report said.
The report, however, said that sources close to the Dangote Refinery said the volume supplied was low when compared to the installed refining capacity of the 650,000 barrels per day plant.
The NNPCL has not yet disclosed the crude oil requirements of Nigeria’s refineries, including Dangote refinery in the last quarter (October – December) of 2024.
But in the second quarter (Q2’24) of 2024, the government put the requirements of all Nigeria’s refineries, including Dangote Refinery, at 597,700 barrels per day, indicating an increase of 114.700 barrels per day, from 483,000 bpd in the first half of the year.
The Q2’24 estimate also indicated that the NNPCL may have booked the crude oil needs of Dangote Refinery at less than 50% of the installed production capacity.
The report also added that the volume of petrol imported in the country fell year-on-year (YoY) by 12.6 per cent to 20.29 billion litres in 2023 from 23.24 billion litres in 2022.
GIK/APA