Nigeria will now have a ready market for some of its crude oil production in-country as the Nigerian National Petroleum Corporation Limited, said it will be supplying 300,000 barrels daily to the Dangote Refinery set for commissioning next week.
NNPCL Group CEO, Mele Kyari, in a brief remark at the Nigerian Oil and Gas Opportunities Fair 2023 which began in Bayelsa yesterday, said the company took an early strategic stake in the company because it saw the potential.
Kyari said the plan to sell crude to the Dangote Refinery would ensure that the company would have an assured market for its crude.
The NNPC Limited is entrusted with about 455,000 barrels of crude oil produced in Nigeria which represents the share of Nigeria’s oil production from various crude production arrangements with local and international oil companies.
Kyari said that production has declined in the past few weeks due to some production challenges but that efforts were on-going to fix the issues.
Nigeria’s production fell in April to about 1 million barrels per day, falling behind African peer Angola.