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Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsDangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting (10106 Views)

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Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Islie(op): 5:50pm On Nov 22, 2024
Dangote refinery: Naira-based crude sale scheme faltering | NNPC not delivering supply commitment



The Dangote Petroleum Refinery says the federal government’s initiative to sell crude priced in the local currency is faltering, as the plant is still unable to secure adequate supplies.

Edwin Devakumar, the vice-president of Dangote Industries Limited, spoke to Reuters on Friday.

We need 650,000 barrels per day, (state oil firm NNPC Ltd) agreed to give a minimum of 385,000 bpd but they are not even delivering that,” Devakumar said.

He described the deliveries from Nigerian National Petroleum Company (NNPC) Limited under the scheme as “peanuts”.

Also speaking, Mathins Obaze, an acting executive director of the Crude Oil Refinery-owners Association of Nigeria (CORAN), said only the Dangote refinery, one of eight refineries in operation in Nigeria, has benefited from the naira-denominated crude sales arrangement.

“Members are still unable to access crude in naira and are currently engaging the government for a resolution,” Obaze said.

On October 5, the federal government said Nigeria officially commenced the sale of crude oil and refined petroleum products in naira — with Dangote refinery focusing on local supply.

A few weeks later, the refinery received four cargoes of crude oil from the NNPC under the naira-for-crude sale agreement.

On November 21, the Lekki-based refinery purchased its first shipment of US oil after a three-month break as the firm sought to increase production.
https://www.thecable.ng/dangote-refinery-naira-based-crude-sale-scheme-faltering-nnpc-not-delivering-supply-commitment/

Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by lordm(m): 6:00pm On Nov 22, 2024
FG has used our crude to collect loan. It will be difficult to supply Dangote refinery
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Christ4ever: 6:10pm On Nov 22, 2024
No one cares about Dangote or NNPC anymore.

They should shove this news where there is no light.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by BlueStripper: 6:10pm On Nov 22, 2024
Carry Una Matter Comot For here angry angry angry angry.

I was once an advocate for Dangote but it seems this is all a charade.

Everyday complain! Which kind thing be this?
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Praxis758: 6:10pm On Nov 22, 2024
Shares for Dangote

Likes for NNPCL



Time for seun to include thumb down botton
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by magoo10(m): 6:11pm On Nov 22, 2024
All promises Cancelled (APC)
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Basicend:
The NNPCL is a very complex and deep setup. It will be very difficult for one man to put it in a boxed process.

Too many things to hide.

Same with the oil and gas segment entirely.

Dangote refinery is, and most likely will be having continuous issues with stocking, I just pity the man.

I pray that refinery can even break-even. After over $19 billion outlay.

Hmm. What is my own self.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by BlocksNG(m): 6:11pm On Nov 22, 2024
Can anything good comes out of apchit government? Capital No.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by trutharena: 6:12pm On Nov 22, 2024
The government should ensure that all refineries get equal access to crude.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by ATEAMS: 6:12pm On Nov 22, 2024
Omoh
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by VikingKing: 6:12pm On Nov 22, 2024
Balabu deh use Nigeria do trial and error. Every single thing this man has tried has failed woefully
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Kukutente23: 6:13pm On Nov 22, 2024
And some zombies were arguing here last week

The fact is that Nigerian crude oil output has become abysmally low under APC. Crude theft, bunkering and outright stealing is now the order of the day and that is why the govt is always broke and they'll start giving fake statistics to cover their incompetence
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by HenryThegreat1(m): 6:14pm On Nov 22, 2024
No single policy of Tinubu that's 20% implementation stage. It's a pity Nigerians hand over their country to chief propaganda. Headlines administration
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by cunny88(m): 6:14pm On Nov 22, 2024
These guys keep making a fool of themselves.
No accountability for crude which is supposed to be our commonwealth.
The hike in fuel price as well orchestrated.

The president who is the Minister of petroleum should be sacked for incompetency.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Kelklein(m): 6:15pm On Nov 22, 2024
Na selfish interests go finally kpai everybody for this country.

Everyone just throws patriotism out the window when it matters most and first pursues selfish interests.. including even the Presidents, all of them that we ever had.

Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by WorkTheTalk(m):
NNPC entity of corruption
1) Owns 3 non functional refineries after collecting billions of dollars for maintenance for over 30 years.
2) Treasury looting via fuel importation and subsidy scams
3) 7.5% ownership of Dangote refinery, yet sabotaging the same refinery to continue fuel importation, even when the capacity of the refinery can service Nigerian consumers and beyond.

Demolaeby:
If local refineries work optimally, where will Tinubu sell his Malta blended petrol
Every government in Nigeria has been using NNPC to steal from Nigeria from time immemorial. That is why NNPC can't be scrapped until there's no more crude oil in Nigeria.

ufotunang:
..this Dangote refinery is a great disappointment to nigerians..I thought the refinery will be the solution to the high cost of fuel that is causing the high costs of living, inflation and hardship
The same people causing the inflation and hardship are the same people sabotaging Dangote's refinery just has they have done to the 3 NNPC owned refineries so the cycle of fuel importantion and secret subsidy payments to themselves can continue.

Sing: One day, one day we shall be free; one day we shall be free, one day.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Pootle: 6:18pm On Nov 22, 2024
imagine a fuvking indian is the vp in dangote....a low class indian in an indigenous firm. how many firm in indian uses a nigerian as their vp in india huh
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by NAC1666: 6:18pm On Nov 22, 2024
lordm:
FG has used our crude to collect loan. It will be difficult to supply Dangote refinery
No. They prefer dollar
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by israelmao(m):
Nigerian oil industry in cesspool of corruption and undemystified mystery..
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by NAC1666: 6:20pm On Nov 22, 2024
Islie:
Dangote refinery: Naira-based crude sale scheme faltering | NNPC not delivering supply commitment





https://www.thecable.ng/dangote-refinery-naira-based-crude-sale-scheme-faltering-nnpc-not-delivering-supply-commitment/
NNPC.... Nigeria biggest problem
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by hisgrace090:
A govt that's against anything that can make life easy for the ordinary man. That's how they relinquished their plan of removing duty on food to lesser the peoples burden..
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Demolaeby:
If local refineries works optimally, where will Tinubu sell his Malta blended petrol
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Basicend:
May be the remaining quota that was pre-allocated for Dangote refinery has been tabled as security for the new loan that was just approved yesterday by senate, or an upcoming loan.

Baba Tinubu needs money. . And borrowing is the only window that he considers.

Hmm, Dangote seems to have entered one-chance with NNPCL TBH.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Olaide1295: 6:23pm On Nov 22, 2024
Dangote better just forget about Nigeria and focus on Importing crude from America and exporting to international market. His creditors (and banks) will roast him if he doesn’t pay back his loans.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by flokii: 6:25pm On Nov 22, 2024
My advice for Mr. President is to look into the constitution of our petroleum Agencies and Parastatals.. the course of study of those working in those critical agencies matter a lot if we ever want to achieve anything meaningful.
You don't expect someone with Bachelors of Islamic studies from Kano or Bauchi to deliver in place of a Petroleum scientist or Petroleum economist.
Now if you say you want to sell crude in naira, the formula and equations you'd apply nko?.. do the people working in the agencies understand them?. These things we overlook are things causing serious problem for us as a people
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by CSTRR: 6:29pm On Nov 22, 2024
This govt is not a serious one.
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Hezzyluv: 6:30pm On Nov 22, 2024
Both FG and Dangote should just fu!ck off!

It appears the two of them are using people's head to play Ludoangry
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by OkCornel(m): 6:31pm On Nov 22, 2024
No surprises
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Meti99(m): 6:32pm On Nov 22, 2024
Peter Obi's warehouse economy policy is by far better than Tinubunomics of abject poverty
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by carzeem1: 6:36pm On Nov 22, 2024
Price will drop drop when dangote starts refining. rubbish and jargons tale APC supporters spread around town.
Dangote is buying crude at dollar rate, prepare for 1500/litre once nnpc voodoo importation get k-leg which is inevitable.
Na suffering go make Nigerian collapses not revolution
Re: Dangote Refinery: Naira-based Crude Sale Scheme Faltering, NNPC Defaulting by Daewoods(m):
Genghis Khan said “I am the punishment of God... if you had not committed great sins, God would not have sent a punishment like me upon you”

APC (Buhari and Tinubu) is the punishment of God on Nigerians ... If you foolish and blind Nigerians had not committed great sins (of being infinitely stupid), God would not have sent a punishment like them upon you. D.N.A
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