The Dangote Petroleum Refinery has taken delivery of four cargoes of crude oil from the Nigerian National Petroleum Company Limited (NNPCL) under the naira-for-crude sale agreement.
The four cargoes of crude oil, according to officials from both sides, were delivered to the refinery over a period of three weeks, following the commencement of the naira-for-crude sale agreement.
According to The PUNCH sources privy to the deal said the refinery was still waiting to receive more crude oil cargoes from NNPCL.
The sources were reported to have also confirmed that the $20bn Lekki-based plant was now set to begin the direct sale of refined Premium Motor Spirit, popularly called petrol, to domestic dealers.
It quoted a source close to the Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency, who did not want to be mentioned because he was not permitted to speak with the press, to have stated that “more cargoes (of crude) would be delivered to the Dangote refinery in the coming weeks.”
The official disclosed that the programme started with the Dangote refinery as the only petrol-producing facility in Nigeria at the moment.
A senior official of the refinery also confirmed the development, saying the first phase of the naira-crude sale agreement would last for six months unless it is renewed by the Federal Government.
The official said she could not tell the cost of the crude oil per barrel.
“The naira-for-crude deal has started. The Dangote refinery has received four cargoes so far and we are still expecting more. The four cargoes have been delivered to the refinery within the past three weeks. We are still expecting more cargo in the coming week.
“Don’t forget that this first phase of the naira-crude sale is just for six months. The government may decide to renew it at the end of the first six months and they may decide not to. So, we don’t know what will happen yet after the first six months.”
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the supply of crude to Dangote refinery would address complaints of shortfall in PMS supply to the NNPC and other marketers.
