Nigerian crude oil refinery owners are accusing international oil companies (IOCs) and producers of failing to allocate any crude oil for domestic refining. This comes as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) banned the export of crude meant for local refineries. The Crude Oil Refinery Owners Association of Nigeria says the lack of crude allocation has forced refiners to rely on imports, impacting production capacity. The NUPRC has taken action to address the issue, warning that it will deny export permits for crude oil intended for domestic refining.
Nigerian crude oil refinery owners have tackled international oil companies and producers for zero crude allocation. This comes as the Nigerian Upstream Petroleum Regulatory Commission banned the export of crude meant for local refineries.
, came down hard on crude producers and the IOCs. banned the export of crude oil meant to meet the needs of domestic refineries in the country. The Chief Executive, Gbenga Komolafe, emphasised that diverting crude oil meant for local refineries “is a violation of the law.”. He warned that the commission will henceforth deny export permits for crude oil cargoes intended for domestic refining. The DCSO framework, a critical part of the Petroleum Industry Act 2021, makes it a call to duty for IOCs and crude producers in Nigeria to ensure local crude supply.
, crude refiners are optimistic that the sector will change for the good of Nigerians. Recall that Nigeria's daily average crude oil production rose to over 1.4 million barrels per day in November last year.
CRUDE OIL REFINERIES NIGERIA INTERNATIONAL OIL COMPANIES DOMESTIC SUPPLY OBLIGATION
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