NUPRC: Dangote, local refineries require 107m barrels of crude oil in H2 2024

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled crude oil producers’ production forecast for the second half (H2) of 2024.

In a report on Monday, Gbenga Komolafe, group chief executive officer (GCEO) of NUPRC, also announced the refining requirement of functional refineries in Nigeria.

“The move which follows Section 109 of the Petroleum Industry Act (PIA) 2021 aims to fortify the nation’s domestic refineries by ensuring a consistent supply of crude oil,” Komolafe said.

Also, according to the statement, Nigerian refineries, including the Dangote Petroleum Refinery, have raised their domestic crude requirements for H2 to 107.22 million barrels.  

NUPRC said the total crude requirement for the Dangote refinery is 82 million barrels from July to December.

The commission said the crude requirement of OPAC refinery is 900,000 barrels, Waltersmith Refinery is 828,000 barrels, and Dupport Midstream Company is 360,000 barrels.

According to the regulator, Edo Refinery and Petrochemicals Company Limited, Aradel Refinery, Port Harcourt Refinery, and Warri Refinery require 184,000 barrels, 887,000 barrels, 184,000 barrels, 9 million barrels, and 11.4 million barrels, respectively. 

Also, with 52 oil producers expected to supply crude during the period, NUPRC projected national average crude oil production of 1.7 million bpd by December 2024 — up from the 1.57 million bpd projected for H1.

“This comprehensive data provides insight into the projected crude oil needs for the refineries, crucial for understanding the energy landscape in Nigeria for the second half of 2024,” Komolafe said. 

“This strategic initiative aligns with Nigeria’s commitment to bolstering its domestic refining capacity and ensuring the sustainability of its oil industry.

“The second half of 2024 is poised to witness increased synergy between local refineries and producing companies, setting the stage for a more robust and self-reliant petroleum landscape in Nigeria.” 

On August 9, NUPRC said it facilitated the supply of 32 million barrels of crude to local refineries in the first half of 2024, with 29 million barrels allocated to Dangote refinery.

However, Dangote refinery said it had not received the barrels of crude NUPRC claimed to have allocated to the company.