Dangote refinery and other local refineries have raised their crude oil requirements from Nigeria’s oil producing companies to 597,000 for the next five months.
This is according to a statement from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
In a report on Monday, Reuters said Nigeria’s refineries have increased their domestic crude requirements for the second half of 2024 to 597,700 barrels per day, up from 483,000 barrels per day in the first half.
It quoted NUPRC to have also confirmed that the oil companies were only able to provide 177,777 bpd to the refineries in the first six months of the year, way below the requirements of the refineries.
The increasing crude requirements of local refineries, coupled with the challenges oil producers face in meeting demand, have created tensions between the 650,000-bpd Dangote Refinery and the regulator.
