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Stats: 3,108,588 members, 7,671,118 topics. Date: Saturday, 09 December 2023 at 12:32 AM
NNPCL Fails To Remit $6.9 Billion, Swaps $7.1 Billion Worth Of Crude In One Year / Ali Baba Lashes Out : Last Last... We Will Drink Our Crude Oil.... / Ekweremadu: Frustrate Sales Of Electric Cars In Nigeria To Sell Our Crude Oil (2) (3) (4)
|Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by ubest1(m): 10:45am On Sep 19|
"Right now, I’m ready to receive crude,” said Edwin, who previously ran Dangote Cement. “We are just waiting for the first vessel. And so as soon as it comes in, we can start.”
While addressing the timeline change, Edwin told S&P that the NNPCL had said they had committed their crude on a forward basis to someone else, so they didn’t have the crude immediately.
He noted that this is a temporary issue, and the refinery should run on exclusively Nigerian crude by November 2023.
He noted further that the Nigerian oil will be purchased in US dollars, and not naira because it is in a free zone on the outskirts of Lagos.
However, NNPCL will supply some crude at knockdown prices due to its equity stake.
Edwin also said that the Dangote refinery can process most African crudes, apart from heavy Angolan grades as well as Middle Eastern Arab Light and even US light tight oil.
|Re: Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by Dennisbulkan: 10:54am On Sep 19|
And he will sell his refined petrol in dollars too. Fair business.
|Re: Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by Wodu89: 10:56am On Sep 19|
Make clear statements and white paper on the transactions for the first six months after this we'll draw up our own conclusions. Don't deciecve us just yet. We'll read the details in the T&C and draw up our conclusions after you make your first 6/12 months statement
|Re: Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by SmartPolician: 10:57am On Sep 19|
Stop all these cock-and-boo stories and start producing at once. If Dangote even cared about reputation, which he obviously doesn't, he would have apologized to Nigérians and the world for the sham commissioning they did early in the year.
|Re: Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by lazkizz(m): 11:11am On Sep 19|
Will this development make us buy at 400
|Re: Dangote Refinery To Purchase Our Crude In Dallars To Keep The Price High by ubest1(m): 11:44am On Sep 19|
I don't see the possibility it would have work if local production was in Naira
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