.jpeg)
Official data regarding the transactions indicates that 3.4 million barrels were delivered in December 2023, followed by 3.5 million barrels in February 2024.
Further details show that the refinery received 3.3 million barrels in March, another 3.3 million barrels in April, 3.0 million barrels in May, 5.1 million barrels in June, 5.1 million barrels in July, 4.8 million barrels in August, and 5.6 million barrels in September 2024. Additionally, October 2024 deliveries have already accounted for 11.7 million barrels.
However, sources associated with the Dangote Refinery have indicated that the supplied volume is relatively low compared to the plant's installed refining capacity of 650,000 barrels per day.
The NNPCL has yet to reveal the crude oil requirements for Nigeria’s refineries, including Dangote, for the last quarter of 2024 (October to December).
In the second quarter of 2024, the government estimated the total crude oil requirements for all of Nigeria’s refineries, including Dangote, at 597,700 barrels per day, reflecting an increase of 114,700 barrels per day from the 483,000 barrels per day recorded in the first half of the year.
This estimate suggests that the NNPCL may have secured less than 50% of the crude oil needs for the Dangote Refinery relative to its installed production capacity.
In related news, the volume of Premium Motor Spirit (PMS), commonly known as petrol, decreased by 12.6% year-on-year, dropping to 20.29 billion liters in 2023 from 23.24 billion liters in 2022.
The National Bureau of Statistics (NBS) reported this decline in its "Petroleum Products Distribution Statistics for 2023," noting that the number of PMS trucks also fell by 16.9% year-on-year, decreasing to 20.22 billion liters from 24.35 billion liters in 2022.
Additionally, the volume of Automotive Gas Oil (AGO), or diesel, imported rose to 4.94 billion liters in 2023, up from 3.99 billion liters.
The data revealed that in 2023, local production of Automotive Gas Oil (AGO) reached 109.39 million litres, marking a 6.76 percent increase from the 102.47 million litres produced in 2022.
Additionally, the output of Household Kerosene (HHK) saw a significant rise of 56 percent year-on-year, totaling 69.7 million litres in 2023, up from 44.68 million litres in 2022. Notably, local petrol production ceased in 2018, with a peak of 128.08 million litres recorded that year.
According to the National Bureau of Statistics (NBS), the volume of Premium Motor Spirit (PMS) trucked out in 2023 was 20.22 billion litres, reflecting a 16.96 percent decline from the 24.35 billion litres reported in 2022.
The NBS also noted that HHK production in 2023 was approximately 69.71 million litres, compared to 44.68 million litres in 2022, which corresponds to a growth rate of 56.02 percent. For AGO, the local production of 109.39 million litres in 2023 surpassed the previous year's figure of 102.47 million litres, indicating a growth rate of 6.76 percent.
In terms of imports, 20.30 billion litres of PMS were brought in during 2023, down from 23.54 billion litres in 2022, representing a decrease of 13.77 percent. Furthermore, imports of Automotive Gas Oil reached 4.94 billion litres in 2023, which is a 23.66 percent increase from the 4.00 billion litres imported the previous year.