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
-
Flood prevention requires collective action, not seasonal reactions
9 minutes -
China detains two leaders of influential underground church
11 minutes -
African brands gain modestly in consumer admiration, but global giants still dominate
12 minutes -
Ghana has only two functional MRI machines in public hospitals – MahamaCares Assessment
43 minutes -
IMF chief says no global slowdown in sight yet, but risks high
45 minutes -
Advancing Ghana’s position in Global Business Services at the Executive Roundtable in London
46 minutes -
Trump says the US and Iran have signed a deal to end the war
48 minutes -
Brazil woman dies after rope-jumping instructors fail to attach cord
53 minutes -
Report on Big Push procurement allegations to be published on Tuesday – Kwakye Ofosu
53 minutes -
Roads Ministry did not breach PPA laws in Big Push contracts – Kwakye Ofosu
54 minutes -
Gov’t defends single-source procurement in Big Push contracts, cites urgent national considerations
55 minutes -
Fox to buy Roku streaming firm in $22bn deal
56 minutes -
Maverick Research appoints former NielsenIQ Executive Justin Sargent as strategic advisor
60 minutes -
Agyinasare storms Pakistan with leadership conference and miracle crusade
1 hour -
Prayer Palace Church raises concerns over alleged encroachment on property by Chinese national
1 hour