NNPCL boosts crude supply to Dangote Refinery amid global price surge
Abdullateef Fowewe
The Nigerian National Petroleum Company Limited (NNPCL) has increased its crude oil allocation to the Dangote Petroleum Refinery to seven cargoes for May loading, up from five in prior months, as global fuel prices soar due to Middle East tensions.
The hike aims to ramp up output at Africa’s largest refinery, which boasts a 650,000 barrels-per-day capacity, and ease pressure on Nigeria’s domestic fuel market strained by spiking international prices.
Disruptions from the ongoing Iran conflict have squeezed Middle East crude supplies, sparking a global scramble for barrels.
A senior Dangote Refinery official told Reuters, “NNPC has allocated more cargoes to Dangote for May. While this will not completely meet our demands, it can help.”
