Breaking News
NNPCL Increases Crude Allocation to Dangote Refinery to Seven Cargoes for May
The Nigerian National Petroleum Company Limited (NNPCL) has raised its crude oil supply to the Dangote Petroleum Refinery for May loading to seven cargoes, up from the five cargoes allocated in previous months.
This decision comes as global fuel prices spike due to disruptions from the ongoing conflict involving Iran, which has tightened Middle East crude supplies and forced buyers worldwide to compete for available barrels.
The move aims to boost domestic fuel production at Africa’s largest refinery (650,000 barrels per day capacity) and help stabilize the local market amid high prices.
A senior Dangote Refinery official told Reuters: “NNPC has allocated more cargoes to Dangote for May. While this will not completely meet our demands, it can help.”See more, details. .
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