The Nigerian National Petroleum Company Limited has launched high-level discussions with international oil companies and indigenous producers to urgently ramp up crude oil production, as the Dangote Petroleum Refinery’s growing market footprint intensifies competition for domestic feedstock.
Sources within NNPC familiar with the negotiations said the talks are aimed at boosting crude availability for local refining and easing mounting pressure on petrol prices as the supply landscape rapidly evolves.
“NNPC Limited recognises that the Dangote Refinery is a strategic national asset, and ensuring its optimal operation is important for Nigeria’s energy security. Within the framework of existing agreements, NNPC continues to facilitate crude supply to the refinery, even in the face of temporary supply constraints,” the sources said.
The company said it is working with joint venture partners and production operators to improve domestic crude volumes, with the goal of supporting Nigeria’s growing local refining capacity and ensuring the country derives maximum value from its resources.
NNPC said it is also working closely with industry regulators — the NMDPRA and the NUPRC — to ensure adequate crude supply and petroleum product availability across the country, while advancing gas development initiatives as part of a broader strategy to diversify Nigeria’s energy mix and reduce exposure to global oil price volatility.
“Our focus remains clear: to safeguard national energy security and ensure Nigerians continue to have access to petroleum products despite global market disruptions,” the sources added.
Source: thesun.ng