Lokpobiri reconciles crude deliver d!spute with Dangote, NNPC Ltd., others.

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.

_NAN

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