…capacity to 1.4 million barrels per day. Umar said the authority is working to address crude oil supply shortages faced by local refineries and ensure compliance with the Domestic Crude Supply Obligation (DCSO) under the Petroleum Industry Act (PIA)."The Federal Government wishes to end the pattern where much of the co…

…has significantly increased exports of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange constraints continue to hamper its operations. This comes as rising global crude oil prices are expected to increase feedstock costs for the 650,000-barrels-per-day refinery, althoug…