The Nigerian National Petroleum Company Limited, on Thursday, said it was set to provide six million barrels of crude oil to the Dangote Refinery. But in what could be described as a reaction to the report, sources at the NNPCL stated that the oil firm was set to deliver six million barrels of crude oil to the refinery in December. Section 109 of the Petroleum Industry Act (2021) stipulates domestic crude oil supply obligations to refineries, including the Dangote Refinery, NNPCL refineries in Port-Harcourt, Warri, Kaduna and modular refineries. The NNPCL has already taken an equity stake in the Dangote refinery and will start supplying crude oil to the facility. Also, industry sources stated that the Dangote Refinery in Lekki, Lagos, had yet to receive the required volumes of crude oil needed to produce refined products.

Source: Punch November 03, 2023 07:25 UTC