Refinery investment: Lokpobiri reconciles crude deliver d!spute with Dangote, NNPC Ltd., others
Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), has convened a high- stage assembly with key stakeholders withinside the oil and fueloline zone to clear up troubles surrounding the Dangote Refinery.
This is contained in a announcement through Nneamaka Okafor. the Special Adviser to the minister on Media and Communications.
The Meeting which hung on Monday in Abuja had in attendance Alhaji Aliko Dangote, Chairman/ CEO, Dangote Group and Mr Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Others are Mr Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Malam Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.).
It might be recalled that current face-off withinside the enterprise noticed the management of the Dangote Group, NMDPRA and NNPC Ltd. in a confrontation over a few pertinent troubles .
Dangote had declared that the NNPC Ltd. now no longer personal a 20 in line with cent stake in its refinery, stressing that the Nigerian oil employer now owns handiest 7.2 in line with cent of the refinery because of its failure to pay the stability in their shares, which become due in June.
The NNPC Ltd. however, stated the selection to cap its fairness participation on the paid-up sum become made and communicated to Dangote Refinery numerous months ago.
The NMDPRA become additionally at loggerheads with Dangote over troubles bordering on licenses, which the Authority stated the Dangote refinery become at its pre-commissioning level even as its diesel under worldwide standard.
Dangote, however, refuted the NMDPRA stand at the issue.
Dangote additionally accused the International Oil Companies (IOCs) of irritating its refinery operations through promoting crude oil to it thru their overseas buying and selling fingers providing cargoes at to 4 bucks in line with barrel, above NUPRC reputable price.
On this background, the minister convened the assembly to discover a lasting option to the modern-day deadlock affecting the Dangote Refinery, with all events demonstrating dedication to collaborative and proactive problem-solving.
Lokpobiri emphasized the significance of cooperation and synergy amongst all stakeholders.
This, he stated could make sure the fulfillment and most advantageous overall performance of the oil and fueloline zone , which he defined as pivotal for Nigeria's monetary boom and electricity security.
The stakeholders expressed their gratitude to the minister for his exemplary management and well timed intervention in facilitating the dialogue.
The assembly marked a giant step toward resolving the demanding situations and underscores the minister's determination to foster a conducive surroundings for Nigeria's oil and fueloline zone .
The approaching flow of the $20 billion Dangote Refinery with a refining potential of 650,000 barrels in line with day (bpd) in 2023, gave impetus to the country's oil zone as it'd make sure that Nigeria become now no longer reliant on gasoline from overseas.
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