Dangote Refinery has issued a warning that it might be compelled to export up to 97% of its petrol production due to domestic market conditions, potentially impacting local fuel availability.
Due to low demand from marketers in Nigeria, Dangote Refinery has announced that it will have no choice but to export the majority of its Premium Motor Spirit (petrol), amounting to 95-97 percent.
The indigenous oil company, which produces 650,000 barrels per day of petrol, has recently disclosed that a mere 3 to 5 percent of gas retailers are interested in purchasing its product.
During an X Space session organized by Nairametrics, Devakumar Edwin – the Oil and Gas Vice President at Dangote Industries Limited – revealed this information on Wednesday.
Insights were provided by him on the challenges that confront the Dangote Refinery as well as Nigeria’s oil and gas sector.
“Regarding the quantity of our refinery’s products sold locally, I sell 2 to 3 percent to small traders who are interested in purchasing and have no choice but to export the remaining 95-97 percent,” he explained.
Sunday’s deadline for NNPCL to remove Dangote Refinery’s fuel access is approaching without any discernible plan.
It is worth remembering that Aliko Dangote, the President of Dangote Group, made public the initial release of petrol from Dangote Refinery.
However, he revealed that the distribution of it to marketers relies on NNPCL.
Peoplesmind
