According to Vanguard, the Nigerian National Petroleum Company Limited, or NNPCL, has chosen to give 48.6 million barrels of crude oil to Dangote Petroleum Refinery over the last ten months. This was discovered in the official transaction data.
It stated that 3.4 million barrels (mb) were delivered in December 2023, with 3.5 million barrels supplied in February 2024.
The statistics also revealed that 3.3md, 3.3mb, 3.0mb, 5.1mb, 5.1mb, 4.8mb, and 5.6mb were delivered to the refinery in March, April, May, June, July, August, and September 2024. The transaction has already registered 11.7mb in October 2024 delivery.
However, sources close to the Dangote Refinery claimed the volume provided is still 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 indicates that the NNPCL may have booked the crude oil needs of Dangote Refinery at less than 50% of the installed production capacity.
