The Nigerian National Petroleum Company Limited, NNPCL, has allocated a total of 48.6 million barrels of crude oil to Dangote Petroleum Refinery in the past 10 months, Vanguard investigations have revealed.
Details of the deliveries contained in official data on the transaction sighted by Vanguard showed that 3.4 million barrels (mb) were supplied in December 2023 while 3.5 million barrels were supplied in February 2024.
The details further showed that 3.3md, 3.3mb, 3.0mb, 5.1mb, 5.1mb, 4.8mb and 5.6 were supplied to the refinery in March, April, May, June, July, August and September 2024 respectively. The transaction has already recorded 11.7mb for October 2024 deliveries.
However, sources close to the Dangote Refinery said the volume supplied remains low when compared to the installed refining capacity of the 650,000 barrels per day plant.
The NNPCL has not yet disclosed the crude oil requirements of Nigeria’s refineries, including Dangote refinery in the last quarter (October – December) of 2024.
But in the second quarter (Q2’24) of 2024, the government put the requirements of all Nigeria’s refineries, including Dangote Refinery, at 597,700 barrels per day, indicating an increase of 114.700 barrels per day, from 483,000 bpd in the first half of the year.
The Q2’24 estimate also indicates that the NNPCL may have booked the crude oil needs of Dangote Refinery at less than 50% of the installed production capacity.
Meanwhile, the volume of Premium Motor Spirit, PMS, also called petrol fell year-on-year (YoY) by 12.6 percent to 20.29 billion litres in 2023 from 23.24 billion litres in 2022.
The National Bureau of Statistics, NBS, disclosed this yesterday in its ”Petroleum Products Distribution Statistics for 2023”, noting that PMS trucks also dropped by 16.9 percent YoY to 20.22 billion litres from 24.35 billion litres in 2022.