Dangote Refinery has said that it will be forced to export 95-97 percent of its Premium Motor Spirit (petrol) because of low patronage by marketers in Nigeria.
\nThis is as the 650,000 barrels per day indigenous oil firm revealed that only three to five percent of petrol marketers are willing to buy its petrol.
\nThe Vice President, Oil and Gas at Dangote Industries Limited, Devakumar Edwin, disclosed this on Wednesday during an X Space session organised by Nairametrics.
\nDangote Refinery has said that it will be forced to export 95-97 percent of its Premium Motor Spirit (petrol) because of low patronage by marketers in Nigeria.
\nThis is as the 650,000 barrels per day indigenous oil firm revealed that only 3 to 5 percent of petrol marketers are willing to buy its petrol.
\nThe Vice President, Oil and Gas at Dangote Industries Limited, Devakumar Edwin, disclosed this on Wednesday during an X Space session organized by Nairametrics.
\nHe gave insights into the challenges facing the Dangote Refinery and the country\u2019s oil and gas sector.
\n\u201cI\u2019m selling 2 to 3 percent to small traders who are willing to buy, while the rest 95 to 97 percent I\u2019m forced to export,\u201d he said while speaking about the quantity of the refinery\u2019s products sold locally.
\nThe development comes as Sunday\u2019s date for NNPCL to lift Dangote Refinery\u2019s fuel approach without a visible plan.
\nRecall that the President of Dangote Group, Aliko Dangote announced Dangote Refinery\u2019s first petrol rollout.
\nHe, however, disclosed its distribution to marketers is dependent on the NNPCL.
\nMeanwhile, the Vice President (Oil & Gas) of Dangote Group, Devakumar V.G. Edwin, has revealed that the Nigerian National Petroleum Company Limited, NNPCL, has requested a permanent presence at the Dangote Refinery as part of the crude oil agreement.
\nEdwin revealed this during a Twitter Space session organized by Nairametrics.
\n\u201cNNPC has informed us that they intend to station a team of 6 to 10 people permanently at our refinery,\u201d he stated.
\nDevakumar V.G. Edwin, Vice President (Oil & Gas) of Dangote Group, has revealed that the Nigerian National Petroleum Company Limited, NNPCL, has requested a permanent presence at the Dangote Refinery as part of the crude oil agreement.
\nEdwin revealed this on Thursday during a Twitter Space session organized by Nairametrics.
\n\u201cNNPC has informed us that they intend to station a team of 6 to 10 people permanently at our refinery,\u201d he stated.
\n\u201cThey\u2019ve asked us to provide office space for them since they will be supplying the crude, overseeing the production, and buying back the products in Naira.\u201d
\nNigerians are hoping that the production and sale of petrol by the Dangote Refinery would help soften the hardship in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dangote Refinery has said that it will be forced to export 95-97 percent of its Premium Motor Spirit (petrol) because of low patronage by marketers in Nigeria. This is as the 650,000 barrels per day indigenous oil firm revealed that only three to five percent of petrol marketers are willing to buy its petrol. The […]<\/p>\n","protected":false},"author":1,"featured_media":338564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[688],"class_list":["post-338547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","tag-front-pix"],"_links":{"self":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/338547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=338547"}],"version-history":[{"count":1,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/338547\/revisions"}],"predecessor-version":[{"id":338555,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/338547\/revisions\/338555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=\/wp\/v2\/media\/338564"}],"wp:attachment":[{"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=338547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=338547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetidenewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=338547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}