Dangote accuses IOCs of plotting failure of its refinery

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Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, has accused International Oil Companies (IOCs) in Nigeria of attempting to undermine the Dangote Oil Refinery and Petrochemicals. He claims that IOCs are inflating local crude prices above market rates, forcing the refinery to import crude from distant countries like the United States, increasing costs.

Speaking at a training program for energy editors, Edwin criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing licenses to marketers to import substandard refined products into Nigeria. He highlighted that the refinery adheres to international standards, allowing it to export products to Europe and beyond.

Edwin urged the federal government and the National Assembly to expedite the implementation of the Petroleum Industry Act (PIA) to protect national interests. He noted that while Ghana has banned the importation of contaminated diesel and PMS, Nigeria continues to grant import licenses despite the local refinery’s capacity to meet domestic and export demands.

Source: Vanguard

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