People blame Nigeria for dangote crude import but fail to consider the size of the refinery

B

V

Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

This logic was not raised at the beginning of the refinery discussion.

Una too dey change mouth. Na so una go later talk why the refinery no fit make fuel price cheap. But una first talk say the refinery go make fuel price cheap.

It isn't beyond Nigeria's daily production but because we have extensive long standing oil agreements with other countries, we cannot squeeze out crude oil to sell the Dangote.

Highest oil thieves are government officials (Navy tops)

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

Good question!

Chai..





Whatever resources that the refinery needs are never beyond Nigeria.

The problem with Nigeria is that,,

Oil wells that could produce beyond the volume of what the refinery needs have been used to borrow money and strike deals.

The monies from such proceeds have also been jargardly looted!!

Gas is the future

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

OPEC agreement

Obi Peter has something to say about this. He will soon post his thoughts on his X account, like some jobless youth posting nonsense on Nairaland.
(Modify) (

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

most of which have been sold in advance.

This is why I am of the opinion that we leave OPEC+. By doing so, we can pump our crude oil to the fullest potential. We can decide to peg 100,000bpd to Dangote and give it to him at $50/b. This will ensure that we keep prices of energy low in our country. For a developing country,we need to keep energy costs low to spur production and industrialisation

Crude oil is nature's gift to us. We are not supposed to suffer for it

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

He need to have a feed stock of 6m barrels .

You are thinking like a child.

Do you think every morning he will go and buy crude oil?

Nigeria took loans with agreements to pay back in crude.
Nigeria still has to sell crude so as to earn FX.
What will be lesft for Dangote?
Dangote needs 4.6M barrels a week. Nigeria cannot even supply one feedstock and that feed stock must never go low else productions stops.

He just bought 24m barrels from the U.S which will take him just 36days
It will take Nigeria about 28 days to produce what Dangote just bought in one breath and they have it readily available.... And that is is even if Nigeria gives him every drop of crude oil which is still inpossible because they have to pay loans and sell out for FX
The realities of life has no Respect for your ignorance and emotions.

michlins:
most of which have been sold in advance.

This is why I am of the opinion that we leave OPEC+. By doing so, we can pump our crude oil to the fullest potential. We can decide to peg 100,000bpd to Dangote and give it to him at $50/b. This will ensure that we keep prices of energy low in our country. For a developing country,we need to keep energy costs low to spur production and industrialisation

Crude oil is nature's gift to us. We are not supposed to suffer for it

You have an interesting point there.
But we cant sell to dangs in $ except you mean an equivalent of $50/pb

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

hisgrace090:


Good question!

Nigeria may have 1.6 million barrels daily, but all of that isn't readily available to sell to 1 man. Most of that 1.6m barrels already has people's names to it.

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

Nigeria crude is not reliable and readily available.

Don't forget that people commenting above supported buhari who mortgaged our oil.


Buhari supporters now tinubu BATeria are the problem of this country

coolcharm:
Nigeria produces about 1.6 million barrel of crude per day. How is a 650k barrels per day refinery beyond it?

Minus 650,000 from 1.6. million and other refineries combined will also need equal amount of barrels

Tell us wether the remaining barrels will fetch Nigeria enough forex

obailala:


Nigeria may have 1.6 million barrels daily, but all of that isn't readily available to sell to 1 man. Most of that 1.6m barrels already has people's names to it.

Portharcourt refinery and others will also need like 500,000 barrels

Will the little left be enough to forex for Nigeria?

Following this interesting thread

Biodun556:


Portharcourt refinery and others will also need like 500,000 barrels

Will the little left be enough to forex for Nigeria?

Nigeria can gain 5-10x more forex inflow by exporting refined products instead of raw crude.