Dangote refinery begins fuel export to W’African countries

The Dangote Petroleum Refinery has commenced the export of refined petroleum products to neighbouring West African countries, according to Bloomberg

The media outlet made the disclosure in a report on Tuesday, citing data sourced from Vortexa, Kpler, Precise Intelligence, a port report, and ship-tracking platform.

According to the report, a tanker has hauled a shipment of gasoline from the Dangote Petroleum Refinery to waters off the coast of Togo, a neighbouring West African country.

The development indicates that the mega-refinery’s operations could soon potentially turn tides in regional fuel markets.

The report said a CL Jane Austen recently loaded more than 300,000 barrels from Dangote and sailed west.

The report further stated that the petroleum product shipment is now floating off the coast of Lome, a popular area for ship-to-ship transfers.

It’s also not certain where the CL Jane Austen’s cargo will ultimately end up.

Although it’s off Togo, the area is often used for Ship-to-ship transfers, meaning the fuel could subsequently be taken elsewhere.

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“While the shipment is tiny in the context of the global gasoline market, it signals the ramp-up of Dangote’s production and the potential to export significant volumes of gasoline beyond Nigeria, which could upend regional markets.”

The refinery last month shipped its first seaborne gasoline cargo to the nearby commercial hub of Lagos.

Recall that last month, the chairman of the Ghana National Petroleum Authority, Mustapha Abdul-Hamid, said the country is may buy petroleum products from the Dangote refinery to help the country cut more expensive exports from Europe which cost the country about $400m monthly.

The chairman of NPA, Ghana, who spoke at the OTL Africa Downstream Oil Conference in Lagos, said importing from Nigeria rather than Europe would reduce the prices of other goods and services by removing freight costs.

“If the refinery reaches 650,000bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,” Hamid said.

In a related development, PUNCH had also reported that the refinery was set to begin fuel exports to South Africa, Angola, and Namibia.

It added that four other African countries – Niger Republic, Chad, Burkina Faso, and Central Africa Republic – had also started negotiations with the refinery.

The newspaper quoted a source as saying that the management of the 650,000bpd capacity refinery was at the advanced stages of talks with the countries to start lifting fuel.

“I can confirm to you that talks are actually at the advanced stage with Ghana, Angola, Namibia, and South Africa, while the initial discussion is coming up with Niger, Chad, Burkina Faso, and the Central African Republic,” the  source said.

Dangote refinery begins fuel export to W’African countries

NERC warns DisCos against estimated billing

The Nigerian Electricity Regulatory Commission (NERC) yesterday warned electricity Distribution Companies (DisCos) not to forcefully migrate customers with faulty meters to estimated billing regime.

The warning came as the regulator reiterated its directive that the DisCos owe the obligation to replace faulty and old meters at no cost to customers.

 Also, some customers yesterday bemoaned what they described as a ploy by the DisCos to frustrate customers into accepting estimated billing by surreptitiously denying them access to reload energy credits.

In a statement yesterday, NERC stated that it had been notified that the DisCos were instructing customers to apply and make payments for the replacement of spoilt and obsolete meters in their franchise areas.

The regulator noted that such instruction by DisCos contravened the Commission’s Order No. NERC/246/2021on the Structured Replacement of Faulty and Obsolete end-use Customer Meters in the Nigerian Electricity Supply Industry (NESI).

The statement reads: “The Nigerian Electricity Regulatory Commission is aware that some Distribution Companies (DisCos) have instructed customers to apply and pay for the replacement of faulty and obsolete meters within their franchise areas.

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“This instruction contravenes the Commission’s Order No. NERC/246/2021 on the Structured Replacement of Faulty and Obsolete end-use Customer Meters in the Nigerian Electricity Supply Industry.”

NERC reiterated that that no customer with a meter should be forcefully migrated to estimated billing.

According to the regulator, if  any customer’s meter is adjudged by any DisCo to be obsolete or faulty, it is the responsibility of the DisCo to replace the meter free of charge, provided that the fault was not caused by the customer.

NERC restated its commitment to protect customers’ interests and rights by ensuring compliance with established regulatory standards and enforcing regulatory penalties for non-compliance by its licensees.

It urged the customers to report cases of non-compliance to its order by any DisCo through its designated channels.

Some consumers of Eko Electricity Distribution Company (EKEDC) and Ikeja Electric (IE), yesterday lamented their inability to load electricity tokens on their meters.

The situation has left several consumers stranded. A consumer on Lawanson, Surulere, under EKEDC, Cecilia Nwadie, said that several attempts to load her energy token in the last two days had been futile.

The effect of this is that she and her family has remained without power supply.

She said: “I tried to load my meter, but it failed. All that the meter indicated to me was “CALL”. When I eventually called EKEDC customer care, I was told that the meter has expired and that I should apply for another meter”.

For IE customers, it was mixed fortune. While some said they were able to load their tokens after several attempts, others insisted they have been unable to log onto the website provided by the utility for updates before the November 14 deadline.

An angry consumer of IE who identified himself as Ladi Ogundele, alleged that the ploy of the utility is to ensure consumers are placed on estimated billing just to exploit them.

He explained that the insistence of IE that consumers must pay for meter replacement even after a contrary directive by the Federal Competition and Consumer Protection Commission (FCCPC) and NERC is an indication that the game plan of the utility is to exploit customers.

The DisCo had been silent since the regulators wade in to ensure adherence to the rules.

“I think this is an acid test for both FCCPC and NERC. If they allow the DisCos to get away with this apparent disregard for customers, then both agencies of government would have failed,” Ogundele said.

NERC warns DisCos against estimated billing

Naira exchanges for N1,735/$ in parallel market

The Naira yesterday appreciated to N1,735 per dollar in the parallel market from N1,740 per dollar last weekend. However, the Naira depreciated to N1,690.37 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.