IOCs selling Nigerian crude through third parties, Dangote laments

Dangote Petroleum Refinery and Petrochemicals has expressed concern over the practice of International Oil Companies (IOCs) selling Nigerian crude through third parties, which makes the domestic crude less competitive. Group Vice President, Oil & Gas and Fertiliser, Devakumar Edwin, stated that while Dangote is committed to sourcing Nigerian crude and supporting the Domestic Crude Supply Obligation framework, the refinery has faced challenges in securing crude directly from domestic producers.

This has led to a reliance on IOCs and third parties, resulting in additional premiums and transaction costs, ultimately making domestically sourced crude more expensive.

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