Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas - Politics

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Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas - Politics - Nairaland

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Oil Producers Reject Mandate To Supply Local Refineries Crude / FG Reaches Agreement With Oil Companies On Supply Of Crude Oil To Local Refinery / Why Dangote Refinery And Other Local Refinery Can't Drop Price Of Petrol (2) (3) (4)

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Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Kemetian: 6:56am On Feb 04

Nigeria to block export permits of oil producers not meeting local refinery quotas

Nigeria's upstream oil regulator said on Monday it would deny export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries, including the Dangote Refinery, Africa's largest.

Nigeria's oil industry law, the Petroleum Industry Act, mandates oil producers, including international oil companies, to dedicate specific volumes of crude for domestic refineries before exporting, a requirement called the domestic crude supply obligation.

However, oil producers say they have not complied with this stipulation because refiners are not offering competitive prices. This has prompted the Dangote Refinery to call on the regulator to enforce the law.

A statement on Monday from the Nigerian Upstream Petroleum Regulatory Commission said Gbenga Komolafe, its head, wrote to oil exploration and production companies to remind them of their obligations and penalties for default.

The commission said it met last week with producers and refiners. In the meeting, refiners blamed producers for not honouring their obligations under the supply obligation, while the producers said refiners are offering insufficient prices, forcing them to explore other markets, Komolafe said in the statement.

Komolafe warned "the diversion of crude cargo designated for domestic refineries is a contravention of the law and the Commission will henceforth disallow export permits for designated crude cargos for domestic refining."

For the first half of 2025, Nigerian refineries say they will require 770,500 barrels of crude per day, with the Dangote Refinery forecast to require 550,000 bpd, according to a schedule published by the oil regulator.

https://www.reuters.com/world/africa/nigeria-block-oil-export-permits-producers-who-do-not-fill-refinery-quotas-2025-02-03/

14 Likes 2 Shares

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by AbuTwins: 7:13am On Feb 04

Follow the law or be sanctioned!

This is not the era where Diezani will be packing trillions and everyone will be sleeping!

24 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by YourGFsnatcher: 7:15am On Feb 04

Good

10 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by obojememe: 7:16am On Feb 04

hot kindof

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by SatoshiX: 7:17am On Feb 04

Way to go.
You can't be taking our crude oil outside the country while the local market is facing shortage.

24 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by blackboy2star(m): 7:18am On Feb 04

Beautiful... grin

10 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Ochyes: 7:18am On Feb 04

Okay

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Kingray10: 7:22am On Feb 04

These people are wicked, they prefer to export everything and leave the local refinery working stranded.

17 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Wealthoptulent(m): 7:23am On Feb 04

Kemetian:
Nigeria to block export permits of oil producers not meeting local refinery quotas

https://www.reuters.com/world/africa/nigeria-block-oil-export-permits-producers-who-do-not-fill-refinery-quotas-2025-02-03/

abi na, na from house we dey carry JEWELRY comot go PARTY

2 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by NOETHNICITY(m): 7:25am On Feb 04

This is the way to go

We must prioritize national interest before anything

12 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Proudlyngwa(m): 7:26am On Feb 04

They should apply this sanction to Gas too

9 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Bobloco: 7:26am On Feb 04

AbuTwins:
Follow the law or be sanctioned!

This is not the era where Diezani will be packing trillions and everyone will be sleeping!

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Agricmoney(m): 7:32am On Feb 04

good move.

Anyway, Agriculture is life

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by capatainrambo: 7:33am On Feb 04

Useless country. Killing hopes and dreams.

2 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by capatainrambo: 7:34am On Feb 04

Kingray10:
These people are wicked, they prefer to export everything and leave the local refinery working stranded.

the electricity your useless govt export to countries. Do you have it in this your shit hole?

3 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Gotocourt: 7:34am On Feb 04

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by simpleseyi: 7:34am On Feb 04

That’s how it’s done all over the world

21 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by erad(m): 7:35am On Feb 04

capatainrambo:
Useless country. Killing hopes and dreams.

You're slow.

9 Likes 2 Shares

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Kingray10: 7:36am On Feb 04

capatainrambo:
the electricity your useless govt export to countries. Do you have it in this your shit hole?

you are in the shit hole, enjoying the shit show.

5 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by vibbb: 7:36am On Feb 04

Good move - meet up local supplies 100% before exporting - Simple.

4 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by simpleseyi: 7:37am On Feb 04

capatainrambo:
Useless country. Killing hopes and dreams.

Lazy youth crying for nothing

23 Likes 2 Shares

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by simpleseyi: 7:37am On Feb 04

capatainrambo:
the electricity your useless govt export to countries. Do you have it in this your shit hole?

You are suffering from generational curse

22 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by spiSeyi: 7:47am On Feb 04

PBAT got this right, how can imported products be cheaper undecided

5 Likes 2 Shares

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Paraman: 7:51am On Feb 04

simpleseyi:

You are suffering from generational curse

The guy is fraustrated and hungry

3 Likes

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Mnewton(m): 7:51am On Feb 04

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by datola: 7:55am On Feb 04

Hmmm.... Nigeria tins get as e be.

I have been looking for filling stations that sell Dangote fuel. Most of the MRS filling stations are out of stock. I was able to get one yesterday where I refilled. I want to see if I will get better mileage.

1 Like

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by omowolewa: 7:55am On Feb 04

Good

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Dogalmighty17: 7:56am On Feb 04

The law needs to be revisited. It is understandable that oil suppliers will seek markets where the can get the best price for thier output. It is also understandable that the government would want the needs of the local refineries met before exporting to the foreign market.
However, this situation leads to an inevitable situation where the price the local refineries may offer will be less than what the international market offers. Forcing the oil companies to meet local quotas at less prices goes against the free market.

1 Like

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by free2ryhme: 7:57am On Feb 04

Kemetian:
Nigeria to block export permits of oil producers not meeting local refinery quotas

https://www.reuters.com/world/africa/nigeria-block-oil-export-permits-producers-who-do-not-fill-refinery-quotas-2025-02-03/

These export permits have become tools for shady deals. Some oil producers use them to negotiate secret terms with buyers who can’t secure permits themselves. Instead of supplying local refineries as required, they divert the crude to the black market for higher profits. Now, the government is cracking down, warning that anyone who doesn’t meet their local supply quota will lose their export rights. This move is meant to ensure Nigeria’s refineries, like Dangote’s, get the crude they need, but producers are pushing back, claiming local refiners aren’t offering fair prices.

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Nahunger(m): 8:00am On Feb 04

Somebody say monopoly 🤡🤡

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by chimex38: 8:01am On Feb 04

capatainrambo:
the electricity your useless govt export to countries. Do you have it in this your shit hole?

We stopped these countries through agreements from establishing Dams on the sources and path of the river Niger that houses Kainji and shiroro dam. Otherwise we won't have enough river flow flowing towards Nigeria to power the dams.

In exchange for that , Nigeria agreed to sell a quota of electricity to them for the gesture since we prevented them from having their own dam to generate power.

The source of this River Niger is Fouta Djallon mountain in Guinea. Flowing through Mali, Benin and Niger.

4 Likes 1 Share

Re: Nigeria Blocks Export Permits Of Oil Producers Not Meeting Local Refinery Quotas by Peakdesign23(f): 8:03am On Feb 04

Na wa

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