• About Us
  • Contact Us
  • Privacy & Policy
Tuesday, June 3, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

NNPCL Crude Oil Supply to Dangote Refinery Insufficient

Vincent Amadi by Vincent Amadi
October 2, 2024
in Economy
Reading Time: 5 mins read
A A
0
NNPCL Crude Oil Supply to Dangote Refinery Insufficient
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


The Nigerian National Petroleum Company Limited (NNPCL) has supplied a total of 48.6 million barrels of crude oil to the Dangote Petroleum Refinery over the past 10 months.

This supply is part of a continuing transaction aimed at supporting the refinery’s operations, which has an installed capacity of 650,000 barrels per day.

However, concerns have emerged regarding the volume of crude oil delivered so far, as it falls short of what the refinery is capable of processing.

The official data on the crude oil deliveries, as obtained by Journalists, revealed that the NNPCL supplied 3.4 million barrels (mb) in December 2023, followed by 3.5 million barrels in February 2024.

Further breakdowns of the data show that 3.3 MB each were delivered in March and April 2024, while May saw the delivery of 3.0 MB.

In June and July, deliveries surged to 5.1mb for each month, followed by 4.8mb in August and 5.6mb in September 2024.

As of October 2024, the transaction had recorded a total delivery of 11.7mb, with expectations for further deliveries through the remaining months of the year.
Despite the seemingly large volume of crude oil deliveries, sources close to the Dangote Refinery have expressed concerns that the amount of crude oil supplied by the NNPCL remains insufficient when compared to the refinery’s maximum refining capacity.

With the capability to process 650,000 barrels per day, the refinery is currently operating below its full potential due to the limited volume of crude oil received from the NNPCL.

The NNPCL has yet to publicly disclose the exact crude oil requirements for Nigeria’s refineries, including the Dangote Refinery, for the final quarter of 2024 (October – December).

However, during the second quarter of 2024 (Q2’24), the federal government placed the overall crude oil demand for Nigeria’s refineries, including Dangote Refinery, at 597,700 barrels per day.

This figure represents an increase of 114,700 barrels per day when compared to the demand of 483,000 barrels per day in the first half of the year.
From these estimates, it appears that the NNPCL has booked the crude oil needs of Dangote Refinery at less than 50% of its installed production capacity.

Industry analysts have pointed out that for the refinery to operate at its optimal level, it will need a more substantial and consistent supply of crude oil.

As the year progresses, stakeholders are closely monitoring the situation to see whether the volume of crude oil deliveries will increase to meet the refinery’s full processing potential.

Decline in Petrol Imports;
Meanwhile, the importation of Premium Motor Spirit (PMS), commonly known as petrol, experienced a significant year-on-year (YoY) decline.

According to the National Bureau of Statistics (NBS), the volume of PMS imported in 2023 fell by 12.6% to 20.29 billion liters, compared to 23.24 billion liters recorded in 2022.

This decline in petrol imports reflect broader changes in the energy landscape as domestic production and other factors influence the country’s fuel supply.


The NBS, in its “Petroleum Products Distribution Statistics for 2023” report, noted that the distribution of PMS via trucks also saw a YoY decrease of 16.9%. In 2023, the volume of PMS trucked out amounted to 20.22 billion liters, a decrease from 24.35 billion liters in 2022.

This drop in both the importation and distribution of petrol signals shifting dynamics in the Nigerian fuel market, possibly linked to efforts aimed at boosting domestic refining capacity.
Surge in Diesel and Kerosene Production;


In contrast to the decline in petrol imports, the importation and production of Automotive Gas Oil (AGO), also known as diesel, saw a notable increase in 2023.

The NBS report indicated that the volume of AGO imported in 2023 rose to 4.94 billion liters, a significant increase of 23.66% compared to the 4.00 billion liters imported in 2022.

This rise in diesel imports is likely due to increased demand for diesel, which is widely used for transportation and industrial purposes in Nigeria.


Furthermore, domestic production of diesel also witnessed growth. In 2023, Nigeria produced 109.39 million liters of AGO locally, representing a 6.76% increase compared to the 102.47 million liters produced in 2022.

The growth in local production reflects efforts to enhance Nigeria’s self-sufficiency in fuel supply, even as the country continues to rely heavily on imports for its petroleum needs.
Household Kerosene (HHK), another critical petroleum product, also saw significant growth in domestic production.

In 2023, the volume of HHK produced locally rose by 56% YoY, reaching 69.7 million liters, compared to 44.68 million liters in 2022.

The increased production of kerosene is a welcome development, particularly for households that rely on kerosene for cooking and other domestic purposes.

Despite these improvements in the production of diesel and kerosene, the local production of petrol in Nigeria came to an end in 2018.

The last recorded production of PMS was in 2018 when 128.08 million liters were produced domestically.

Since then, Nigeria has relied entirely on imports to meet its petrol demand, making the decline in importation a critical issue for the country’s energy security.
The NBS report also highlighted key statistics regarding the importation and production of petroleum products in 2023.

The data showed that Nigeria imported 20.30 billion liters of PMS in 2023, representing a 13.77% decrease from the 23.54 billion liters imported in 2022.

On the other hand, 4.94 billion liters of Automotive Gas Oil were imported in 2023, marking an increase of 23.66% compared to the 4.00 billion liters imported in the previous year.
While Nigeria has made strides in increasing the production of certain petroleum products such as diesel and kerosene, the overall energy landscape remains complex.

The decline in petrol imports and the ongoing challenges in crude oil supply to the Dangote Refinery suggest that more work needs to be done to ensure a stable and efficient fuel supply in the country.

Vincent Amadi

Vincent Amadi

Related Posts

Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

2 days ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

7 days ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide

2 weeks ago
Fidelity Bankruptcy Scare: Banking sector is stable, says CBN
Economy

Fidelity Bankruptcy Scare: Banking sector is stable, says CBN

2 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Wike to Amaechi: Stop lying, you are hungry for power, not food
National

Wike to Amaechi: Stop lying, you are hungry for power, not food

16 hours ago
Insecurity: Army kill three suspected bandits in Plateau
National

Insecurity: Army kill three suspected bandits in Plateau

1 day ago
Boko Haram attacks: Borno community demands relocation of Army barracks
National

Boko Haram attacks: Borno community demands relocation of Army barracks

1 day ago
Barcelona’s Raphinha Wins the Champions League Golden Boot
National

Barcelona’s Raphinha Wins the Champions League Golden Boot

1 day ago
Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender
National

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

1 day ago
20 Kano athletes die in gastly accident after Sports Festival
National

20 Kano athletes die in gastly accident after Sports Festival

2 days ago

POLITICS

More defections: Rep dumps PDP for APC, urges support for Gov Otu, Tinubu

More defections: Rep dumps PDP for APC, urges support for Gov Otu, Tinubu

3 days ago
PDP Crisis: BoT urges forgiveness, dialogue and unity

PDP Crisis: BoT urges forgiveness, dialogue and unity

6 days ago
Tinubu receiving performance based endorsement – Top APC Chieftain

Tinubu receiving performance based endorsement – Top APC Chieftain

7 days ago
​​Coalition Saga: Atiku Ignores Adeleke In Osun, Draws Battle Line With PDP Govs. 

​​Coalition Saga: Atiku Ignores Adeleke In Osun, Draws Battle Line With PDP Govs. 

7 days ago
Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

7 days ago

2027: Atiku, PDP Mocks Tinubu’s Endorsements, Describes It As Fake

1 week ago

YOUR ECONOMY

Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

2 days ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

7 days ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide

2 weeks ago
Fidelity Bankruptcy Scare: Banking sector is stable, says CBN
Economy

Fidelity Bankruptcy Scare: Banking sector is stable, says CBN

2 weeks ago
Nigeria committed to deepening trade with U.S, says Envoy
Economy

Nigeria committed to deepening trade with U.S, says Envoy

2 weeks ago
Naira ends week on positive note against dollar
Economy

Naira ends week on positive note against dollar

2 weeks ago

E & P

Barcelona’s Raphinha Wins the Champions League Golden Boot
National

Barcelona’s Raphinha Wins the Champions League Golden Boot

by Steven Atogi
1 day ago
0

The Brazilian and Barcelona forward had a great run in the 2024/2025 football season, with impressive performance and statistics across competitions....

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

1 day ago
Ousmane Dembélé vs Lamine Yamal, who takes the Ballon d’Or?

Ousmane Dembélé vs Lamine Yamal, who takes the Ballon d’Or?

1 day ago
Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

7 days ago
Dramatic Ending In Premier league Last Fixture As Man City, Chelsea, Newcastle Secure Champions League Slot. Deal.

Dramatic Ending In Premier league Last Fixture As Man City, Chelsea, Newcastle Secure Champions League Slot. Deal.

1 week ago

Awoniyi speaks after life threatening surgery, admits current season the most difficult 

2 weeks ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
3 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
6 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports

Recent News

Wike to Amaechi: Stop lying, you are hungry for power, not food

Wike to Amaechi: Stop lying, you are hungry for power, not food

June 2, 2025
Ukraine’s drone strike hits Russian airbase targets

Ukraine’s drone strike hits Russian airbase targets

June 2, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address