Crude supply to domestic refineries rises 17% as petrol imports fall

Crude oil supplied to domestic refineries rose by 17 per cent in August, strengthening local refining output as petrol imports fell sharply during the month, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The regulator's latest monthly factsheet showed that crude oil receipts by domestic refineries increased from 585,000 barrels per day (bpd) in July to 683,000 bpd in August. The increase in crude supply coincided with a significant decline in the volume of Premium Motor Spirit (PMS), commonly known as petrol, imported into the country, with imports falling by 26 per cent from 19.7 million litres per day in July to 14.6 million litres per day in August. The development highlights the growing contribution of domestic refineries to Nigeria's petrol supply, with the Dangote Petroleum Refinery accounting for the bulk of locally supplied PMS during the period.

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