Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has convened a high-level meeting with key stakeholders in the oil and sector to resolve issues surrounding the Dangote Refinery.
The minister convened the meeting which held yesterday in Abuja to find a lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating commitment to collaborative and proactive problem-solving.
It will be recalled that recent face-off in the industry saw the leadership of the Dangote Group, Nigerian Midstream and Downstream Petroleum Regulatory Authority and NNPC Ltd. in a disagreement over some pertinent issues.
Dangote had declared that the NNPC Ltd. no longer own a 20 per cent stake in its refinery, stressing that the Nigerian oil company now owns only 7.2 per cent of the refinery due to its failure to pay the balance of their shares, which was due in June.
Dangote also accused the International Oil Companies (IOCs) of frustrating its refinery operations by selling crude oil to it through their foreign trading arms offering cargoes at two to four dollars per barrel, above NUPRC official price.
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