Dangote, others supplied 53.7 million barrels of crude oil in Q2

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), local refiners received 53.7 million barrels of crude oil and condensate between April and June, indicating a 97.4% overall performance for Q2 2026.

According to a statement from NUPRC’s Head of Media and Corporate Communications, Eniola Akinkuotu, the commission meets with stakeholders on a monthly basis, including local licensed refineries and crude oil producers. Following the meeting, the producers are given a certain amount of their crude oil and condensate, which they should then sell to local licensed refineries.

Nonetheless, the framework functions on a “willing buyer, willing seller” basis in accordance with the PIA, which influences final results.

18, 127, 638 barrels were distributed to producers in April after stakeholder engagements.

But the manufacturers went above and above, giving refiners 19, 312, 476 barrels. In the end, local refiners received 20, 879, 381 barrels, indicating that the producers fulfilled 114.9% of their allotment, according to the report.

While the Commission allocated 18,778,392 barrels of crude oil to the producers in May as part of its enforcement of the Domestic Crude Supply Obligation (DCSO), the producers once again exceeded expectations by offering 23,187,893 barrels to the local refiners.

However, by the end of the month, the producers’ actual supply to the refiners was 14, 228, 865 barrels, or 75.8% compliance.

“The Commission gave the producers 18,172,638 barrels in June. Refiners accepted 18, 606, 026 barrels, or 102.4% of the 26, 835, 119 barrels that the producers had offered.

The commission also noted that the signing of a long-term crude supply arrangement backed by a bankable Sales and Purchase agreement between the producers and domestic refiners, as well as an increase in local oil production, coincided with the improvement in DCSO.

According to data on refinery participation, the Dangote Refinery needed 63 million barrels in Q2, but the producers supplied larger quantities of 68.1 million barrels. 98% of the offered volumes are represented by the 68.1 million barrels that producers have offered to the Dangote Refinery.

The Dangote refinery eventually approved 52.6 million barrels. This suggests that just 78% of what was given was accepted by the refinery. The panel reiterates its dedication to accomplishing the government’s goal of energy sufficiency. The Commission intends to maintain recent increases in crude oil output while consistently enforcing the DCSO by utilising the framework of the PIA, 2021.