Nigeria president give approval for additional crude oil volume
The Nigerian National Petroleum Corporation (NNPC) on Tuesday said that the President of Nigeria has given approval for the corporation to take additional crude oil volume to guarantee the country’s supply of Premium Motor Spirit (PMS) petrol. In a statement “NNPC determined to end fuel scarcity,” its Group General Manager, Group Public Affairs Division, Garba Deen said that due to the challenges that “major oil marketers face in contributing their supply quota due to constraint in accessing foreign exchange and outstanding subsidy obligations, NNPC is burdened with the obligation to guarantee almost 100% in the national supply, since the domestic crude oil supply (445,000 bbls/d) can only guarantee about 50% of the 45 million litres national requirement for petrol; we have secured presidential approval to take additional crude oil volume to guarantee national supply of petrol.” Explaining the causes of the scarcity, the spokesman noted that in continuing with our d...