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
-
Diaspora Girls SHS in distress: Students learn under trees, attend classes in canteen amid severe infrastructure deficit
7 seconds -
Accra Brewery PLC kicks off ‘Cheers to Bars’ with World Cup viewing experience
11 minutes -
2026 World Cup: Cape Verde hold Spain to goalless draw in opener
29 minutes -
Only 47% of ‘Big Push’ projects awarded through sole-sourcing — Gov’t
33 minutes -
2026 World Cup: Tunisia sack Sabri Lamouchi after opening match defeat to Sweden
37 minutes -
CSOs petition NTC over alleged teacher–student altercation at Nyinahin SHS
38 minutes -
Photos: President and political appointees present GHs6.1m to MahamaCares Fund
39 minutes -
Children engaged in hazardous illegal mining and farming practices drive dropouts in schools in Tano North
39 minutes -
Court strikes out application to dismiss East Legon property case
1 hour -
Dozens walk out as Google boss Pichai addresses Stanford graduates
1 hour -
NPP Constituency Chairman petitions regional executives over alleged election irregularities in Afigya Sekyere East
1 hour -
Flood prevention requires collective action, not seasonal reactions
2 hours -
China detains two leaders of influential underground church
2 hours -
African brands gain modestly in consumer admiration, but global giants still dominate
2 hours -
Ghana has only two functional MRI machines in public hospitals – MahamaCares Assessment
2 hours