The Nigerian National Petroleum Company Limited, NNPCL, gave Dangote Petroleum Refinery 48.6 million barrels of crude oil in the last 10 months.
This was revealed in the official data on the transaction.
It showed that 3.4 million barrels (mb) were supplied in December 2023 while 3.5 million barrels were supplied in February 2024.
The details showed that in March, April, May, June, July, August, and September 2024, the refinery received 3.3md, 3.3mb, 3.0mb, 5.1mb, 5.1mb, 4.8mb, and 5.6 respectively.
The transaction already logged 11.7mb for October 2024 deliveries.
But insiders at the Dangote Refinery say they’re not producing enough compared to their capacity.
The NNPCL hasn’t told us how much crude oil Nigeria’s refineries need, including Dangote refinery, from October to December 2024.
However, in the second quarter of 2024 (Q2’24), the government raised the refinery needs to 597,700 bpd, a rise of 114,700 bpd from the first half of the year.
The Q2’24 estimate also shows that the NNPCL may have underestimated the crude oil needs of Dangote Refinery.