KEY POINTS
- Dangote Refinery will start supplying petrol after reaching an agreement with the government.
- NNPC will be the sole buyer of petrol from Dangote Refinery, with other marketers purchasing from the national oil company.
- The refinery will supply PMS and diesel in exchange for crude oil, with the first batch of petrol loaded on September 15, 2024.
The federal government announced on Friday that Dangote Refinery would start supplying petrol after both parties agreed on pricing and supply.
NNPC to exclusively receive petrol from Dangote Refinery
According to a report by Vanguard, NNPC will be the only marketer getting petrol from the refinery. Other marketers will be getting the product from the national oil company.
Adedeji declared that “all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September”.
He also revealed that the refinery will supply PMS and diesel to the local market. The local marketers will pay the PMS and diesel in Naira.
Adedeji further clarified that Dangote Refinery will only sell Diesel to interested marketers while its PMS will only be sold to NNPC.
Crude oil supply and initial petrol loading
A member of the Presidential Committee on the Sale of Crude Oil and Refined Products, Zacch Adedeji said that NNPC would commence the supply of 385,000 barrels of crude oil to Dangote Refinery on the 1st of October 2024.
The agreement aims to solve the challenge of petrol shortage in the country and also enable the government to continue the payment of subsidies on the product.
The Presidential Committee on the Sale of Crude Oil and Refined Products also confirmed that the loading of the first batch of petrol from the Dangote Refinery will start on Sunday, 15th of September, 2024.
