The Nigerian National Petroleum Company Ltd has approved the allocation of 19 cargoes of crude oil to the Dangote Refinery and Petrochemical Company.
ENERGY TIMES gathered that the allocation of 13 cargoes of crude oil to Dangote Refinery is for September while six additional cargoes would be released in October.
The move by the NNPC Ltd is in line with the resolution of the Federal Executive Council on July 29th which approved the sale of crude oil to Dangote Refinery and other local Refineries in Naira instead of Dollars.
During the meeting, President Bola Tinubu had extended an offer of support to the Dangote Refinery by proposing that NNPC Ltd sells crude oil to the refinery and others in Naira, providing a valuable lifeline.
Meanwhile, the Dangote Refinery has said it had yet to fix the price of petrol lifted from as it is yet to finalize the contract with NNPC Ltd.
It said in a statement signed by the Group Chief Branding and Communication, Anthony Chiejina that the PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector.
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