{
  "id": 606702,
  "title": "IOCs selling Nigerian crude through third parties, Dangote laments",
  "url": "https://urgent.news/2026/08/11/iocs-selling-nigerian-crude-through-third-parties-dangote-laments",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-11T22:30:52.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/iocs-selling-nigerian-crude-through-third-parties-dangote-laments/"
  },
  "original_language": "en",
  "account": "Dangote Petroleum Refinery and Petrochemicals has expressed concern over Nigerian crude being sold through third parties by International Oil Companies operating in Nigeria. This practice, revealed by the Nigerian Upstream Petroleum Regulatory Commission, has led to additional costs and made Nigerian crude less competitive. Group Vice President, Oil & Gas and Fertiliser, Devakumar Edwin, stated that while Dangote remains committed to sourcing Nigerian crude and supporting the Domestic Crude Supply Obligation framework, it has faced challenges in obtaining adequate volumes of crude directly from local producers. The use of intermediaries often results in additional premiums and transaction costs, driving crude prices above international benchmarks. Edwin emphasized that Dangote is ready to purchase Nigerian crude at competitive prices, but only if it is available in sufficient quantity and commercially viable conditions.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Daily Post Nigeria",
        "title": "Domestic crude must be available and commercially viable – Dangote Refinery",
        "url": "https://urgent.news/2026/08/11/domestic-crude-must-be-available-and-commercially-viable-dangote",
        "published": "2026-08-11T20:51:28.000Z"
      },
      {
        "outlet": "Punch",
        "title": "IOCs selling Nigerian crude through third parties, Dangote laments",
        "url": "https://urgent.news/2026/08/11/iocs-selling-nigerian-crude-through-third-parties-dangote-laments-608149",
        "published": "2026-08-11T22:50:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}