The Nigerian National Petroleum Company (NNPC) Limited will allocate seven cargoes in May to Dangote refinery, an increase from the five allocated in previous months.
TheCable quoting a top source at the national oil company confirmed the
development on Wednesday.
On March 25, David Bird, chief executive officer (CEO) of
the Dangote refinery, said the plant was expected to receive about 13 to 15
crude cargoes every month under the crude-for-naira programme but currently
gets only five.
However, it was learnt that this figure will rise to seven
cargoes in May.
“We are focused on increasing allocation crude oil supply to
Dangote,” a source said.
In a report on Tuesday, Reuters said higher crude
allocations to the refinery could limit the amount of Nigerian crude available
for export, especially as the Iran war has significantly reduced Middle Eastern
supply, prompting buyers to source cargoes from a wider range of locations.
“NNPC has allocated more cargoes to Dangote for May,” a
senior Dangote official told Reuters.
“While this will not completely meet our demands, it can
help. We are also in negotiation with NNPC for more volumes.”
According to the publication, NNPC cargoes are cheaper for
the refinery because of lower shipping costs.
On March 26, the Dangote refinery reduced its ex-gantry
petrol price to N1,200 per litre.
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