{
  "id": 608149,
  "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",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-11T22:50:52.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/iocs-selling-nigerian-crude-through-third-parties-dangote-laments/"
  },
  "original_language": "en",
  "account": "Dangote Petroleum Refinery has criticized International Oil Companies (IOCs) and third parties for selling Nigerian crude meant for domestic refining through intermediaries. This practice, revealed by data from the Nigerian Upstream Petroleum Regulatory Commission, results in extra costs that make 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 framework, adequate volumes must be available at reasonable prices. Edwin explained that using IOCs and third parties often leads to additional premiums and transaction costs, driving up crude prices above market benchmarks. He emphasized that the refinery's challenge lies in securing crude directly from domestic producers at commercially viable prices, rather than the volume of crude offered under the DCSO arrangement.",
  "summary": "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.",
  "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 Nigeria",
        "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",
        "published": "2026-08-11T22:30:52.000Z"
      }
    ]
  },
  "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."
}