NUPRC “allocates 61.9 million barrels of crude oil to domestic refineries in first quarter”

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has allocated 61.9 million barrels of crude oil to domestic refineries in the first quarter (Q1) of 2026, against 68.7 million barrels offered by producers.
The Commission made this known on Tuesday in its statistics on the implementation of the Domestic Crude Supply Obligation (DCSO) in accordance with the provisions of the Petroleum Industry Act (PIA 2021).
However, it said actual supply to local refineries was 28.5 million barrels, translating into a supply conversion rate of between 36 and 46 percent over the period under review.
“A DCSO month-by-month breakdown reveals that in January, following consultations with stakeholders, including crude oil producers, the Commission directed producers to supply 22.6 million barrels to local refineries.
“Producers beat expectations, delivering 25.3 million barrels, representing an increase of 11.9%, or an additional 2.7 million barrels, for the month.
“However, 9.2 million barrels were ultimately supplied to local refineries.
“In February, the Commission, in discharging its DCSO, allocated 20.5 million barrels to local refiners, but producers offered slightly less, 19.8 million barrels, missing the target by 700,000 barrels.
“Effective supply fell to 9.1 million barrels,” he said.
The report shows there was a modest improvement in deliveries in March, which rose to 10.1 million barrels, compared to 9.2 million barrels in January and 9.1 million barrels in February.
Over the same period, DCSO allocations totaled 18.8 million barrels, while producers offered a significantly higher 23.6 million barrels, representing an excess of 4.8 million barrels or 25.5%.
It said the shortfall between offered volumes and actual deliveries was mainly attributed to the price gap between domestic producers and refiners.
He highlighted that the current framework operates on the “willing buyer, willing seller” principle, which continues to influence transaction outcomes.
“Despite these developments, the Commission reaffirms its commitment to achieving the government’s energy sufficiency target.
“Leveraging the framework of the PIA, 2021, the Commission aims to sustain recent gains in crude oil production by continuously refining the DCSO methodology to improve transparency, efficiency, ensuring local refineries are supplied as expected,” he said.