The Vice Chairman ,Downstream Sector of NNPCL, on a TV program @ Morning Show,Arise TV disclosed that the Dangote Refinery Between September And November Will Receive Additional 17.8 million barrels of crude oil as part of the Federal Government push to drive local production of petroleum products.
So far the oil company has supplied 30 million barrels of crude to the refinery to since the inception of its readiness to kick off operations with local production and supply across major cities nation wide, Dangote Refinery announced early in the week, at a press briefing addressed by its Group Chief Executive, Aliko Dangote, that it is now ready to release its PMS to the Market.
According to Mr.Adedapo, 6.8 million barrels in 7 cargoes of crude oil will be delivered to Dangote Refinery in September, While another 11 million barrels will be delivered in November.
The VP Downstream further revealed why the NNPCL is the sole importer of PMS in the country, noting market conditions have not made it possible for independent marketers to bring in products as a result of forex illiquidity and a pump price that is far below the landing cost.which have hindered independent marketers from importing
Contrary to media reports that Dangote Refinery will only sell products to NNPCL as Sole off taker, Mr Adedapo saidcthat Dangote will sell products to other marketers once the market conditions are right for them to play, adding that NNPCL for now will act in public interest as provider of last resort as outlined in the Petroleum Industry Act.
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