IOCs selling Nigerian crude through third parties, Dangote laments

Dangote Petroleum Refinery and Petrochemicals has expressed concerns over International Oil Companies (IOCs) selling Nigerian crude through third parties, which has led to additional costs and made Nigerian crude less competitive. Group Vice President, Oil & Gas and Fertiliser, Devakumar Edwin, stated that while the refinery is committed to sourcing Nigerian crude and supporting the Domestic Crude Supply Obligation (DCSO) framework, they have faced challenges in obtaining crude directly from domestic producers.

These challenges have resulted in IOCs and third parties being used for sourcing, which often leads to additional premiums and transaction costs, making Nigerian crude more expensive than alternative supplies. The refinery emphasized their willingness to purchase Nigerian crude oil at competitive market prices, highlighting the importance of affordable and competitive refined petroleum products for Nigerians.

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