Dangote Refinery Receives Nearly All of Q2's Crude Oil Offerings

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a significant boost in the implementation of the Domestic Crude Supply Obligation (DCSO) framework in Q2. The Dangote Refinery accounted for nearly all of the crude supplied to domestic refiners during this period, receiving 98% of the total 69.3 million barrels offered.

The NUPRC attributed the improvement in DCSO performance to an increase in local oil production and the signing of long-term crude supply agreements supported by bankable Sales and Purchase Agreements (SPAs) between producers and domestic refiners.

Despite the improved volume offered, the Dangote refinery accepted only 52.6 million barrels, representing about 77% of the crude offered to it and 10.4 million barrels below its stated requirement.