NNPC allocates seven crude cargoes to Dangote refinery
NNPC is raising crude allocations for the Dangote refinery to seven cargoes for May loading. The move supports production as fuel prices reach record highs.
The Nigerian National Petroleum Company (NNPC) has reportedly increased the number of crude oil cargoes allocated to the Dangote refinery for May loading. According to trade sources, the state-owned oil firm will provide seven cargoes to the facility, up from the five cargoes allocated in previous months. This supply adjustment occurs as Nigeria deals with fuel prices reaching record levels. The 650,000 barrel per day refinery, which is the largest on the African continent, has previously noted that its domestic supply of approximately five cargoes per month was insufficient. To meet its full operational requirement of 13 to 15 cargoes, the company has been forced to import crude, often at prices impacted by geopolitical tensions in the Middle East.
