The Vice President, Oil and Gas, at Dangote Industries Limited, Devakumar Edwin, has accused International Oil Companies, IOCs, in Nigeria of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals.
He said the IOCs were deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up high premium price above the market price, thereby forcing it to import crude from countries as far as United States, with its attendant high costs.
“While the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is trying its best to allocate the crude for us, the IOCs are deliberately and willfully frustrating our efforts to buy the local crude. “It appears the objective of the IOCs is to ensure Nigeria remains a country which exports crude oil and imports refined petroleum products. They are keen on exporting the raw materials to their home countries, creating employment and wealth for their countries, adding to their GDP, and dumping the expensive refined products into Nigeria, thus making us to be dependent on imported products.
‘’Since the US, EU and UK imposed a price cap scheme from February 5, 2023, on Russian petroleum products, a large number of vessels are waiting near Togo with Russian ultra-high sulphur diesel and, they are being purchased and dumped into the Nigerian market. ‘’These measures synchronise fuel export standards with the European domestic market, specifically targeting diesel and petrol with high sulphur and chemical content. Historically, these fuels, with sulphur content reaching up to 10,000 ppm, were exported at reduced rates to countries lsuch as Nigeria and other West African consumers.
‘’In September 2017, an investigation by an international organisation, Public Eye, revealed that polluted and toxic fuels were being exported on a large scale from the ports of Rotterdam and Amsterdam for export to African markets.
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