Breaking: Dangote Accuses IOCs Of Manipulating Crude Oil Prices

The vice-president of oil and gas at Dangote Industries Limited (DIL), Devakumar Edwin, on Sunday, accused international oil companies (IOCs) in Nigeria of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals.

Edwin said the IOCs are deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up the high premium prices above the market price, thereby forcing it to import crude from countries as far as the United States, with its attendant high costs.

More details later…