Refineries turn to more imported crude as local supply drops

Nigeria’s domestic refineries sharply increased their reliance on imported crude oil in July, with foreign supplies rising by 151.5 per cent in one month as locally sourced crude declined.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that refineries imported 5.13 million barrels of crude in July 2026, compared with 2.04 million barrels in June.

The latest figure accounted for 28.7 per cent of the 17.88 million barrels of crude received by domestic refineries during the month. Locally supplied crude accounted for the remaining 12.75 million barrels.

The surge in imports came as domestic crude deliveries dropped by 25.4 per cent from 17.08 million barrels in June to 12.75 million barrels in July.

NMDPRA’s July 2026 Midstream and Downstream Statistics showed that crude imports had fluctuated considerably throughout the year.

Imports started at 710,000 barrels in January before climbing to 4.25 million barrels in February and reaching a 2026 peak of 9.43 million barrels in March.

The volume then plunged to 410,000 barrels in April before rising to 2.08 million barrels in May, 2.04 million barrels in June and 5.13 million barrels in July.

Despite the July increase, imports remained well below the March peak.

Total crude receipts by domestic refineries also varied during the period. Refineries received 9.54 million barrels in January, rising to 13.13 million barrels in February and 20.92 million barrels in March.

Receipts subsequently stood at 18.37 million barrels in April, 17.92 million barrels in May and 19.12 million barrels in June before falling to 17.88 million barrels in July.

The latest figures highlight the continuing importance of crude availability to the performance of Nigeria’s emerging refining industry, particularly as local supplies remain subject to fluctuations.

Meanwhile, the Dangote Petroleum Refinery recorded an average capacity utilisation of 71.09 per cent in July, according to the regulator.

The refinery produced an average of 25.9 million litres of Premium Motor Spirit daily, alongside 19.1 million litres of Automotive Gas Oil and 15.6 million litres of Aviation Turbine Kerosene.

Its average domestic product receipts stood at 25.8 million litres of PMS, 15.7 million litres of AGO and 1.9 million litres of ATK per day.

The refinery also exported an average of 3.4 million litres of PMS, 11 million litres of AGO and 11.6 million litres of ATK daily as of July 31.

At the end of the month, its closing stocks stood at 446.1 million litres of PMS, 162.3 million litres of AGO and 217.4 million litres of ATK.