Ademola Adigun, an oil and gas expert, says it is not the responsibility of Nigeria to provide crude for the Dangote refinery.
July 18, 2024 6:16 pmAdemola Adigun, an oil and gas expert, says it is not Nigeria’s responsibility to provide crude for the Dangote refineryAdigun was speaking on the current struggles of the refinery in purchasing crude feedstock from international oil companies on Channels Television’s Sunrise Daily programme on Thursday.
Adigun said the Dangote refinery, which is not covered by the domestic crude supply obligation agreement, being located in an export processing zone, is not obligated to sell its product to Nigeria. “Remember the IOCs will take care of their own share of the crude as well and they are not compelled to sell to Dangote. It is a free market thing. The Petroleum Industry Act says free market, free sales, free purchases,” the expert said.
According to the oil and gas expert, local crude oil suppliers have supply chain agreements with a lot of refineries around the world.“So I’ll sell to the person who gave me the best deal. The Nigerian National Petroleum Company Limited might decide to give all its crude to Dangote,” Adigun said.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Not Nigeria’s responsibility to provide crude oil for Dangote RefineryAn oil and gas expert, Ademola Adigun, has waded into the controversy over the inability of the Dangote Refinery to access crude oil in Nigeria for its production. According to Adigun, it was not Nigeria’s responsibility to provide crude oil for the Dangote Refinery.
Read more »
Dangote pledges infrastructure dev’t at Aliko Dangote varsityAlhaji Aliko Dangote, Chancellor of Aliko Dangote University of Science and Technology, Wudil, has pledged to construct a Senate
Read more »
CORAN supports Dangote refinery, criticises crude producers for skipping local salesThe Nation Newspaper CORAN supports Dangote refinery, criticises crude producers for skipping local sales
Read more »
Reps to investigate non-allocation of crude to Dangote RefineryThe Nation Newspaper Reps to investigate non-allocation of crude to Dangote Refinery
Read more »
Muyiwa Ademola marks 18th wedding anniversary with wifeThe Nation Newspaper Muyiwa Ademola marks 18th wedding anniversary with wife
Read more »
Dangote accuses IOCs of manipulating crude oil prices, frustrating refinery's survivalDevakumar Edwin, vice-president, oil and gas at Dangote Industries Limited (DIL), has accused international oil companies (IOCs) in Nigeria of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals.
Read more »