Dangote Petroleum Refinery says it will prioritise domestic supply of fuel to prevent scarcity in Nigeria despite the ongoing crisis in the Middle East. The company said it remains committed to stabilising the country’s energy market.
The refinery explained that the conflict has forced some refineries in other parts of the world to shut down and reduced refining output in several countries. It added that China’s ban on gasoline and diesel exports has further tightened global supply.
The company also said global crude oil and freight prices have risen sharply, with Brent crude climbing above 84 dollars per barrel. It noted that it adjusted its ex-depot price of petrol by 100 naira per litre while absorbing part of the cost.
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Dangote Refinery said it currently receives about five crude cargoes monthly from NNPC, below the thirteen cargoes needed to meet local demand. It added that plans are underway to deploy CNG-powered trucks to improve fuel distribution nationwide.
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