Petrol imports fall as Dangote stock hits 631m litres
Dangote Refinery’s stock hit 630.9m litres in August, causing Nigeria’s daily petrol imports to fall by 26%, according to NMDPRA data. Read More: https://punchng.com/petrol-imports-fall-as-dangote-stock-hits-631m-litres/
The Dangote Petroleum Refinery reported 631 million litres of refined petroleum products in stock at the end of August, as Nigeria continued to import petrol and other fuels, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The refinery's closing inventory included 360.4 million litres of petrol, 137.2 million litres of diesel, and 133.3 million litres of aviation fuel.
Petrol imports fell by 26% from July, while domestic production rose by 39%. This led to a 11% increase in total petrol receipts into the country, with domestic receipts exceeding imports by 21.3 million litres per day. The Dangote refinery supplied around 36 million litres of petrol daily to the domestic market, accounting for about 71% of total petrol receipts.
Despite the decline in imports, the refinery still had significant stocks of petrol, diesel, and aviation fuel, which raised concerns about inventory management due to uncertainty around future import volumes.
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