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.
A top source at the national oil company confirmed the development to TheCable 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.
Advertisement
“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.
WARNING: If You Are Not 18+, Don’t Click The Link Below 👇🫣
https://calculatepredestinationset.com/u36k6hvh?key=9d5a995551042f49ca200d04746b52ad
Did you want to monetize your website, join MONETAG or ADSKEEPER and start earning
Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it.
Drop your comment in the section below, and don’t forget to share the post.
Never Miss A Single News Or Gist, Kindly Join Us On WhatsApp Channel:
https://whatsapp.com/channel/0029Vad8g81Eawdsio6INn3B
Telegram Channel:
https://t.me/gistsmateNG
