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Nigerian Gasoline Shortages Persist

OIL PRODUCTS
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Gasoline shortages in Nigeria have persisted as the NNPC remains the sole importer of the fuel despite imports being opened to private firms late last year.

  • Private firms have been limited by foreign currency shortages and cap on petrol prices.
  • NNPC is reported to be struggling to find enough crude to swap for gasoline as some of its oil production is tied to forward sale contracts.
  • That also makes it difficult to meet its domestic supply obligations to local refineries like Dangote Refinery.
  • The Dangote refinery is readying two units to enable gasoline production – expected to transform supplies in the region. It is currently only operating at 300,000 bpd vs a nameplate capacity of 650,000 bpd and has started shipping jet fuel, gasoil and naphtha.
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Gasoline shortages in Nigeria have persisted as the NNPC remains the sole importer of the fuel despite imports being opened to private firms late last year.

  • Private firms have been limited by foreign currency shortages and cap on petrol prices.
  • NNPC is reported to be struggling to find enough crude to swap for gasoline as some of its oil production is tied to forward sale contracts.
  • That also makes it difficult to meet its domestic supply obligations to local refineries like Dangote Refinery.
  • The Dangote refinery is readying two units to enable gasoline production – expected to transform supplies in the region. It is currently only operating at 300,000 bpd vs a nameplate capacity of 650,000 bpd and has started shipping jet fuel, gasoil and naphtha.