
Audio By Carbonatix
Nigerian crude oil producers supplied local refineries with less than half of the volumes allocated under the country's domestic crude supply rules in the first quarter of 2026, according to regulator data, as pricing disputes continued to hamper deliveries.
- The Nigerian Upstream Petroleum Regulatory Commission said 61.9 million barrels of crude were allocated to domestic refineries during the quarter under the Domestic Crude Supply Obligation, while producers offered 68.7 million barrels.
- Actual supply, however, stood at 28.5 million barrels, equivalent to about 46% of allocated volumes and around 41% of volumes offered.
- The figures highlight continuing challenges in Nigeria's push to increase local refining and reduce reliance on imported fuels, despite reforms under the Petroleum Industry Act aimed at improving domestic crude availability.
- The shortfall has underscored concerns raised by the Dangote refinery over unreliable domestic crude supply and pricing disagreements, analysts said, constraining output at Africa’s largest refinery and weakening Nigeria’s push to capture more value from its oil production.
- The regulator attributed the gap between offered volumes and actual deliveries mainly to pricing differences between crude producers and domestic refiners. It said transactions continue to operate on a "willing buyer, willing seller" basis.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Godfred Dame argues Hanan Abdul-Wahab’s Buffer Stock charge sheet is defective, seeks dismissal
2 minutes -
Ghana’s fiscal space remains limited despite economic gains – IERPP
9 minutes -
WAFCON 2026: Winner to receive record $2 million prize money
13 minutes -
OpenAI says its AI went rogue and launched ‘unprecedented’ cyber-attack
17 minutes -
Most bus fares in England to be capped at £2 from January
19 minutes -
Jeffrey Epstein-linked modelling scout Daniel Siad found dead in France
22 minutes -
NDC branch organiser granted GH¢200,000 bail over alleged false claims about Bawumia
35 minutes -
NPA CEO monitors 24-hour economy pilot at Tema petroleum depots
46 minutes -
WAFCON 2026: Cameroon target redemption as Indomitable Lionesses chase continental glory
48 minutes -
NSS investigating GH¢60 allowance deductions as refund decision awaits probe outcome
50 minutes -
BoG warns of arrest, imprisonment and fines for rejecting cedi and pesewa coins
53 minutes -
Wontumi brought to Accra High Court for Tano Nimiri case while serving 20-year sentence
57 minutes -
UCL 2026/27: Terry Yegbe scores in first leg qualifier as Lech Poznan beat AGF
1 hour -
Reform military budgeting process to reduce corruption risks – Dr Sowatey
1 hour -
John Boadu backs Wontumi, urges party supporters to remain calm after conviction
1 hour