The Group CEO, of NNPC Limited, Mele Kyari has pointed out that crude supply to refineries is determined by the principal of willing buyer – willing seller.
Kyari’s remarks followed allegations of a deliberate attempt by crude oil producers in the country to starve the $20 billion Dangote Refinery of feedstock.
President of the Dangote Group, Aliko Dangote had two months ago accused oil producers in the country of failing to supply the refinery with the required crude needed for its operation.
Providing clarification, Kyari argued that “refining business is a straightforward business which any investor should know before coming into the market.
“You must secure (a source for) your feedstock and you must find a market. This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery”.
Noting that the law is very clear on domestic crude oil supply obligation, especially to local Refineries, he added that, “the same law also said that there must be a willing buyer and a willing seller”.
A statement by NNPC Chief Corporate Communications Officer, Olufemi Soneye on Wednesday said Kyari stated this when testified before the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry.
