NewStats: 3,262,767 , 8,178,090 topics. Date: Tuesday, 03 June 2025 at 01:56 PM 6h276h

Oil companies projected to supply Dangote refinery, others 597,700 bpd of crude oil in the next five months

Crude oil-producing companies in Nigeria are expected to supply the Dangote refinery and other local refineries with about 597,700 barrels per day (bpd) of crude in the next five months to meet local demands.

This is according to a statement from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and reported by Reuters on Monday.

According to the report, Nigeria’s refineries have increased their domestic crude requirements for the second half of 2024 to 597,700 barrels per day, up from 483,000 barrels per day in the first half.


NUPRC also confirmed that the oil companies were only able to provide 177,777 bpd to the refineries in the first six months of the year, way below the requirements of the refineries.

The increasing crude requirements of local refineries, coupled with the challenges oil producers face in meeting demand, have created tensions between the 650,000-bpd Dangote Refinery and the regulator.


NURPC’s failure to enforce PIA

Nairametrics earlier reported that the Dangote Refinery accused the NUPRC of failing to enforce the Petroleum Industry Act (PIA) in relation to the domestic supply of crude oil to local refineries.

In a statement released on Friday, the refinery’s spokesperson, Anthony Chiejina, stated that NUPRC has only facilitated the sale of a single cargo between the refinery and crude oil producers.

Chiejina further noted that the regulatory body cited the “sanctity of a contract” as the reason for its inability to enforce its own Act.


“Aside from the term supply we bilaterally negotiated with NNPCL, so far NUPRC has only facilitated the purchase of one crude cargo from a domestic producer. The rest of the cargoes we have processed were purchased from international traders.

“All we are asking for is for refineries in Nigeria to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen.

“Unfortunately, the NUPRC has effectively itted in their statement, that they will be unable to enforce the domestic crude supply obligation as specified in the PIA citing “sanctity of contracts” as an excuse,” the statement read.

What you should know

As Nigerians and marketers anticipate the rollout of Motor Spirit (PMS) from the Dangote refinery and other refineries across the country, questions about meeting local crude oil demand persist.

According to the Nigerian Upstream Petroleum Regulatory Commission (NURPC), eight refineries are expected to commence operations in August, with a combined refining capacity of 864,500 barrels per day (bpd).

[b]This would require oil producers to supply more than half of that amount.
A total of 52 oil producers, including major players such as TotalEnergies, Chevron, Shell, and ExxonMobil, are expected to supply the necessary crude, primarily through their t venture operations with the Nigerian National Petroleum Corporation (NNPC) Limited.

https://nairametrics.com/2024/08/12/oil-companies-projected-to-supply-dangote-refinery-others-597700-bpd-of-crude-oil-in-the-next-five-months/

Even if they supply dangote all needed crude for his refinery it will never reduce the price of fuel ... Ask dangote cement and flour ... No matter what it will always go higher after monopolizing the market ... I won't cry for any dangote ... Let him hustle his way out ...

Crude oil production companies or crude oil extraction companies.

I'm always amazed anytime I read negative stories about Dangote Refinery.
What I read online is totally different from the real situation on ground.
I can saw with all boldness that the Refinery is pumping out millions of litres of Diesel and Aviation fuel everyday.
Just last week Friday,I decided to take a trip from Ajah through epe to Ijebu-ode so I could link the Lagos-ibadan expressway,and what I saw was mind buggling.
I saw a line of more than 400 trailers queueing from the second toll gate at Ijebu-ode.
They were waiting for their turns to load these petroleum products,I was informed the Trailer park in the Refinery was filled with tankers and the trucks had to look for a place to park.
I daresay people in Ajah don't know what's happening in the Dangote Refinery axis cos the tankers don't go through the Lekki-Epe expressway to pick up fuel.
Only very ignorant people will believe all these negative propaganda against the Refinery,work is ramping up around that axis.
My own concern is the opportunities that axis presents for discerning Investors.
A piece of real estate on that corridor will be worth 3 to 4 times in the next few years.
Visit my signature now for how to invest in real estate on that axis now.
God bless Nigeria.

Good

The more local refineries we have, the better for the Nigeria oil sector

Independence and freewill
Not just for countries alone
But for each individual…
Lol some things need critical thinking and logic
…
Ohh the topic is dangote
What happens if the refinery eventually works
What benefits the individual?
Reduced fuel price?
More security? For food and you
Idk
Please I feel so ignorant can someone enlighten me
Or am I just being domesticated into an asslicker without even knowing because of the type of information I’m being fed?
Please I need to start reading news that will be beneficial to me

Ikaeniyan0:
Oil companies projected to supply Dangote refinery, others 597,700 bpd of crude oil in the next five months



Crude oil-producing companies in Nigeria are expected to supply the Dangote refinery and other local refineries with about 597,700 barrels per day (bpd) of crude in the next five months to meet local demands.

This is according to a statement from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and reported by Reuters on Monday.

According to the report, Nigeria’s refineries have increased their domestic crude requirements for the second half of 2024 to 597,700 barrels per day, up from 483,000 barrels per day in the first half.


NUPRC also confirmed that the oil companies were only able to provide 177,777 bpd to the refineries in the first six months of the year, way below the requirements of the refineries.

The increasing crude requirements of local refineries, coupled with the challenges oil producers face in meeting demand, have created tensions between the 650,000-bpd Dangote Refinery and the regulator.


NURPC’s failure to enforce PIA

Nairametrics earlier reported that the Dangote Refinery accused the NUPRC of failing to enforce the Petroleum Industry Act (PIA) in relation to the domestic supply of crude oil to local refineries.

In a statement released on Friday, the refinery’s spokesperson, Anthony Chiejina, stated that NUPRC has only facilitated the sale of a single cargo between the refinery and crude oil producers.

Chiejina further noted that the regulatory body cited the “sanctity of a contract” as the reason for its inability to enforce its own Act.


“Aside from the term supply we bilaterally negotiated with NNPCL, so far NUPRC has only facilitated the purchase of one crude cargo from a domestic producer. The rest of the cargoes we have processed were purchased from international traders.

“All we are asking for is for refineries in Nigeria to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen.

“Unfortunately, the NUPRC has effectively itted in their statement, that they will be unable to enforce the domestic crude supply obligation as specified in the PIA citing “sanctity of contracts” as an excuse,” the statement read.

What you should know

As Nigerians and marketers anticipate the rollout of Motor Spirit (PMS) from the Dangote refinery and other refineries across the country, questions about meeting local crude oil demand persist.
According to the Nigerian Upstream Petroleum Regulatory Commission (NURPC), eight refineries are expected to commence operations in August, with a combined refining capacity of 864,500 barrels per day (bpd).
This would require oil producers to supply more than half of that amount.
A total of 52 oil producers, including major players such as TotalEnergies, Chevron, Shell, and ExxonMobil, are expected to supply the necessary crude, primarily through their t venture operations with the Nigerian National Petroleum Corporation (NNPC) Limited.
Follow us for Breaking News and Market Intelligence.

https://nairametrics.com/2024/08/12/oil-companies-projected-to-supply-dangote-refinery-others-597700-bpd-of-crude-oil-in-the-next-five-months/

so what happened next after expiration of the 5 months. Fuel scarcity abi?

projectiles full Nigeria

Hope biafrans and all other naysayers can now rest on their malta yen yen conspiracy theories!


Also,BAT just commissioned INNOSON built CNG buses,Largest ship birthed in Onne port for the second term,BAT signed SE development commission bill into law.All these will still not stop BIAFRANS from playing victims of being hated and intentionally schemed to be backwards because VICTIM MENTALITY is embedded in their DNA!

Hopefully they can get it on the road

All these stories from Nigeria

Believe the shitty media at your own peril

I don't trust Dangote to favour the masses. His foray into cement is a point of reference. I won't be surprised if fuel doubles by the time Dangote is given a giant share of the market. How much is cement now ?

Revised Edition

Ok

touts in Lagos says once dangote finish building fuel will be sold at #200,still waiting .

Sheuns:
Crude oil production companies or crude oil extraction companies.

crude oil production, they actually process the oil after extraction. Its after the processing that we can now call the produce crude oil

Wahala no dey finish.In 5 months time.so na till 2025 be that.
Porthacort refinery that should have started working last year is still telling us new stories.This country is just somehow

REDshouse:
Even if they supply dangote all needed crude for his refinery it will never reduce the price of fuel ... Ask dangote cement and flour ... No matter what it will always go higher after monopolizing the market ... I won't cry for any dangote ... Let him hustle his way out ...

We know that, Dangote entered the diesel market and the price reduced. Please, you can also build a refinery to break the so called Dangote monopoly. After all, this same reports states that, 8 refineries are ready to start. Do they all belong to Dangote? In the cement market, why is Bua or Larfage not selling cement to us at 2,000 naira? Is Dangote the one setting the price for them? Let them sell it at that price and let's see if Dangote can still be in the market. The word MONOPOLY is indeed abused in Nigeria

victorDanladi:
Hope biafrans and all other naysayers can now rest on their malta yen yen conspiracy theories!


Also,BAT just commissioned INNOSON built CNG buses,Largest ship birthed in Onne port for the second term,BAT signed SE development commission bill into law.All these will still not stop BIAFRANS from playing victims of being hated and intentionally schemed to be backwards because VICTIM MENTALITY is embedded in their DNA!

Please don't blame Obidients.

It's a genetical disorder. They honestly can't help it.

chinex11:
crude oil production, they actually process the oil after extraction. Its after the processing that we can now call the produce crude oil

Processing of crude oil means refining it to other usable fuels like petrol, diesel, aviation fuel. Crude oil is extracted from the ground. It’s a natural occurring mineral.

Ikaeniyan0:
Oil companies projected to supply Dangote refinery, others 597,700 bpd of crude oil in the next five months





https://nairametrics.com/2024/08/12/oil-companies-projected-to-supply-dangote-refinery-others-597700-bpd-of-crude-oil-in-the-next-five-months/

We are our problem

Max24:
I don't trust Dangote to favour the masses. His foray into cement is a point of reference. I won't be surprised if fuel doubles by the time Dangote is given a giant share of the market. How much is cement now ?

Please, how much are other cements prices compared to Dangote cement? Why are the others not cheap? I need education on this please. There are many variables that drive production cost, chief among them is energy. When your government took the dollar sky high and the cost of diesel doubled, what do you think will happen? Most time people unfairly target Dangote. At least he is not the only one in that market. What happened to all the noise Bua made about cement price reduction months ago,? It is simply not feasible. At least, Dangote is investing in Nigeria and creating employment. How many of the people in government including Tinubu have invested here? People will just be shouting Dangote monopoly. Why don't you build a refinery yourself?

Since APC came into power, it has always been futuristic never realized like, FGN vow to..., Buhari promised to..., Tinimbum set to ..., FGN commences..., we will..., we shall..., Tinimbum re-echoes..., FGN projects...,

My dear country people, propaganda can never run a government of reality. You might win elections with all kinds of strategies but good governments can never be achieved by propaganda

Ikaeniyan0:

597,700

Per day. Ok, this should help. I hope they do it.

REDshouse:
Even if they supply dangote all needed crude for his refinery it will never reduce the price of fuel ... Ask dangote cement and flour ... No matter what it will always go higher after monopolizing the market ... I won't cry for any dangote ... Let him hustle his way out ...

Badbelle

Faiththatworks:
I'm always amazed anytime I read negative stories about Dangote Refinery.
What I read online is totally different from the real situation on ground.
I can saw with all boldness that the Refinery is pumping out millions of litres of Diesel and Aviation fuel everyday.
Just last week Friday,I decided to take a trip from Ajah through epe to Ijebu-ode so I could link the Lagos-ibadan expressway,and what I saw was mind buggling.
I saw a line of more than 400 trailers queueing from the second toll gate at Ijebu-ode.
They were waiting for their turns to load these petroleum products,I was informed the Trailer park in the Refinery was filled with tankers and the trucks had to look for a place to park.
I daresay people in Ajah don't know what's happening in the Dangote Refinery axis cos the tankers don't go through the Lekki-Epe expressway to pick up fuel.
Only very ignorant people will believe all these negative propaganda against the Refinery,work is ramping up around that axis.
My own concern is the opportunities that axis presents for discerning Investors.
A piece of real estate on that corridor will be worth 3 to 4 times in the next few years.
Visit my signature now for how to invest in real estate on that axis now.
God bless Nigeria.

Some people said dangote still import cement into Nigeria

Definitely if govt stop importation and direct all marketers to the refinery, he would start to import to meet up with local demand

iluvdonjazzy:
so what happened next after expiration of the 5 months. Fuel scarcity abi?

No. They're projecting for the next 5 months now. Before the expiration of that time, they will project for another period, maybe 5 months or one year, or maybe even have a perpetual arrangement in place.