Headline: Tensions rise in Nigeria's oil sector as Dangote Refinery faces supply challenges

Comments · 107 Views

Tensions rise in Nigeria's oil sector as Dangote Refinery faces supply challenges due to a dispute with the Nigerian Upstream Petroleum Regulatory Commission over crude oil allocation. The Petroleum Products Retail Outlets Owners Association of Nigeria calls for a round-table meeting

 

In a recent interview with DAILY POST, Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, expressed concerns regarding Aliko Dangote, President of Dangote Group, and the ongoing issues impacting the viability of the newly constructed Dangote Refinery. Gillis-Harry asserted that Dangote has inadvertently exacerbated conflicts within the oil and gas sector that could thwart the refinery's mission to operate efficiently.

The remarks come amid a dispute between Dangote Refinery and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over a critical allocation of 26 million barrels of crude oil essential for the refinery's operation. Gillis-Harry emphasized that it is unrealistic for Dangote Refinery to receive the entire allocation, particularly given the presence of other domestic refineries in Nigeria awaiting crude supply.

Highlighting the urgency of the situation, he urged all stakeholders in the industry to convene for a round-table meeting to address the ongoing crisis. "If they have not been able to resolve the crude oil crisis, I don’t see how he can commence petrol refining," Gillis-Harry stated. He further criticized the lack of collaboration among the involved parties, suggesting that the ongoing disputes could lead to further delays in the refinery's operational start.

As the situation develops, the fate of the Dangote Refinery and its role in Nigeria's oil market hangs in the balance, necessitating immediate dialogue among the industry's key players.

Comments