The Dangote Petroleum Refinery has received four cargoes of crude oil from the Nigerian National Petroleum Company Limited as part of a naira-for-crude sale agreement.
It was reported that these deliveries occurred over the past three weeks since the government initiated the sale of crude to local refineries in local currency, according to The Punch.
Informed sources indicated that the refinery is anticipating additional crude oil shipments from NNPCL.
They also confirmed that the $20 billion Lekki-based Dangote Petroleum Refinery is preparing to start direct sales of refined Premium Motor Spirit (petrol) to domestic dealers.
A source from the Technical Subcommittee on Domestic Sale of Crude Oil, speaking anonymously, confirmed that more crude cargoes will be delivered to the refinery in the coming weeks.
The official disclosed that the programme started with the Dangote refinery as the only petrol-producing facility in Nigeria at the moment.
Speaking, a senior official of the refinery confirmed the development, saying the first phase of the naira-crude sale agreement would last for six months unless it is renewed by the Federal Government.
The official said she could not tell the cost of the crude oil per barrel.
“The naira-for-crude deal has started. The Dangote refinery has received four cargoes so far and we are still expecting more. The four cargoes have been delivered to the refinery within the past three weeks. We are still expecting more cargo in the coming week.
“Don’t forget that this first phase of the naira-crude sale is just for six months. The government may decide to renew it at the end of the first six months and they may decide not to. So, we don’t know what will happen yet after the first six months.”
Recall, the 650,000 barrels per day Dangote Petroleum Refinery faced challenges with crude supply when it began operations a few months ago.
The President of the Dangote Group, Alhaji Aliko Dangote expressed concerns that some international oil companies were attempting to sabotage the investment by refusing to supply crude directly.
The group alleged that the IOCs insisted on selling crude through foreign agents instead.
It is anticipated that the 650,000 barrels per day Dangote Petroleum Refinery would cut down West Africa’s over-reliance on petrol import.
