Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery

Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery

The Lagos-based mega Dangote refinery has accused the Nigerian National Petroleum Corporation (NNPC) of failing to meet its crude oil supply obligations under the naira-for-crude agreement.

Edwin Devakumar, the Vice President of the Dangote Group, disclosed this in a statement reported by Reuters.

Devakumar explained that the national oil company had committed to supplying the refinery with a minimum of 385,000 barrels per day (bpd) under the crude-for-naira deal.

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However, he alleged that the NNPC is falling short of this commitment.

According to Reuters, Devakumar characterized the volume of crude currently supplied by NNPC Limited as “peanut,” though he did not specify the exact amount.

“We need 650,000 barrels per day, and NNPC Ltd agreed to supply a minimum of 385,000 bpd, but they are not even delivering that,” Devakumar stated.

 

Crude-for-naira deal: NNPC fails to deliver agreed crude oil – Dangote refinery