Dangote Refinery insists IOCs frustrating crude oil supply in Nigeria

The Dangote Industries Limited has said that International Oil Companies are still frustrating crude oil supply obligations to its 650,000 barrels per day Dangote Refinery.

Devakumar Edwin, the Vice President of Dangote Industries Limited disclosed this in a statement on Wednesday.

According to him, IOCs were still selling crude at $2 to $4 per barrel, above the Nigeria Upstream Petroleum Regulatory Commission’s official price.

He also alleged that IOCs preferred selling crude produced in Nigeria to Asian Countries.

“Data on platforms like Platts and Argus shows that the price offered to us is way higher than the market prices tracked by these platforms. We recently had to escalate this to NUPRC”, he stated.

This comes after NUPRC recently vowed to implement the Domestic Crude Supply Obligation (DCSO) guideline in the sector.

Recall that the Chairman of Dangote Group, Aliko Dangote insisted that its Lagos-based refinery will kick off the supply of fuel in August 2024 after missing its July deadline.