Local crude grades dominate refinery’s May-June feedstock as facility moves to clarify pricing concerns and reduce reliance on imports…..
The Dangote Petroleum Refinery sourced nearly four out of every five barrels of crude processed between May and June 2026 from Nigerian producers, including the Nigerian National Petroleum Company Limited (NNPCL), according to newly released cargo records.
Data from the refinery’s official crude discharge and pricing records showed that Nigerian crude accounted for about 78 per cent of its total feedstock during the two-month period, while imported supplies from countries including Angola, Libya, Guyana and Ghana made up the remaining 22 per cent.
The refinery released the figures to address claims that its petrol pricing decisions were directly tied to daily movements in international crude oil prices. It explained that crude purchases are usually concluded weeks or months ahead under contracts based on monthly average prices rather than spot market rates.
The records showed that the 650,000-barrel-per-day facility received a total of 40.40 million barrels of crude between May and June.
Of that volume, 31.43 million barrels came from Nigerian oil fields, while foreign suppliers accounted for 8.97 million barrels.
In May, the refinery received 21.47 million barrels, with local crude grades contributing 16.74 million barrels, representing 77.97 per cent of total deliveries. Imported crude accounted for 4.73 million barrels, or 22.03 per cent.
June figures followed a similar pattern, with domestic suppliers delivering 14.69 million barrels, equivalent to 77.58 per cent of total supply, while imports contributed 4.24 million barrels, representing 22.42 per cent.
The Nigerian crude grades supplied to the refinery included major streams such as Bonny Light, Qua Iboe, Forcados, Amenam, Bonga, Escravos, Agbami, Cawthorne, Okwori, Utapate and ABO.
Foreign supplies included Angola’s Cabinda crude, Libya’s El Sharara, Guyana’s Payara, Ghana’s Jubilee, as well as internationally traded blends.
Bonny Light Leads Domestic Supply
Among individual crude grades, Bonny Light emerged as the largest contributor during the review period, supplying 5.90 million barrels.
Qua Iboe followed with 4.80 million barrels, while Amenam and Forcados supplied 4.00 million barrels and 3.89 million barrels respectively.
Other Nigerian grades included Escravos with 1.99 million barrels, Utapate with 1.90 million barrels, Cawthorne with 1.89 million barrels, Bonga with 1.03 million barrels, Agbami with one million barrels and Okwori with 418,462 barrels.
Combined, Bonny Light, Qua Iboe, Amenam and Forcados alone delivered more than 18.5 million barrels, accounting for almost half of the refinery’s total crude intake.
Among foreign suppliers, Libya was the largest contributor, with El Sharara crude supplying 2.10 million barrels.
International trading blends also played a significant role, with CJ Blend contributing 1.95 million barrels and EA Blend adding 997,377 barrels.
Guyana’s Payara crude supplied 1.02 million barrels, Angola’s Cabinda delivered 996,349 barrels, while Ghana’s Jubilee contributed 956,001 barrels.
Crude Prices Fall Between May and June
The data also showed a significant drop in crude purchase prices between May and June.
In May, some cargoes of Qua Iboe crude traded as high as $134.37 per barrel, while Bonga crude reached $134.24 per barrel. Total crude purchases for the month were valued at approximately $2.68 billion.
However, prices declined sharply in June, with most cargoes trading between $90 and $97 per barrel, although Angola’s Cabinda crude was purchased at $123.30 per barrel.
The refinery’s total crude spending fell to about $1.80 billion in June.
The decline followed weaker global oil prices linked to concerns over slowing demand, reduced geopolitical tensions and increased output from some major producers.
Industry observers said the lower crude prices could help improve refining margins and potentially support reductions in fuel prices.
Experts Welcome Rise in Local Crude Supply
The latest figures come amid ongoing efforts by the Federal Government and regulators to strengthen the domestic crude supply framework and ensure local refineries have access to adequate feedstock.
The Dangote refinery had previously raised concerns about difficulties securing enough Nigerian crude, forcing it to increase purchases from international markets.
However, the latest records suggest that domestic crude now remains the dominant source of supply for the facility.
The Dangote refinery, which began petrol production in 2024, has become a major force in Nigeria’s downstream petroleum sector, reducing dependence on imported refined products and expanding fuel exports to African and international markets.
