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Nairaland Forum / Nairaland / General / Business / Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg (15303 Views)
Dangote Refinery Ramps Up Production With US Crude – Bloomberg / Dangote Refinery To Import Crude Oil From The United States / $19 Billion Dangote Refinery Gets Another 1 Million Barrels Crude Oil (2) (3) (4)
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Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:00pm On May 16 |
Now we are going to have dollar purchase pressure. Abi dangote pressure the fg/cbn to subsidize dollar sales ni? Whereas nnpcl is also placing pressure on its own dollar requirements Jesus Christ🤔 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:02pm On May 16 |
So we have Nnpcl version 1.0 Nnpcl version 2.0 |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:03pm On May 16 |
CheapHomes1:I am telling you to shut up and go away You are a nuisance Is that clear enough? If not you can continue running your mouth 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by ViceGovernor: 3:03pm On May 16 |
Ah wahala dey o…. See refinery when we Dey expect to come save us. Last last na dollar rate Alhaji go sell him fuel ⛽️. This 2 need to be arrested
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Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Lilosio: 3:04pm On May 16 |
Topman7: You are telling me the 7th largest refinery did not put to consideration the different grade of oil? There is no ideology that justifies lap dancing for USA and western colonizer mindset.. In a billion years Nigeria if reliant on the stupid dangote refinery will be drenched of it's little life and fed to the colonizers. |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Dynamicboss: 3:05pm On May 16 |
rertylentl: Our crude is used for loan repayment hence leaving small amount for refining |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:07pm On May 16 |
Dynamicboss:I don't know why you people keep trafficking these narrative when the nnpcl is saying it has unsold cargoes of crude |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:08pm On May 16 |
baralatie:Who is "we" Dangote is not Nigeria He does not have to buy crude from Nigeria and he very likley will sell some of what he produces in dollars Even if he used Nigeria crude and paid for it in Naira There would still be an OPPORTUNITY COST of the lost/FOREGONE dollars that could have been made selling the oil in dollars |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:15pm On May 16 |
Gajagojo:First of all Dangote got a whopping $3 billion in waivers from the fg/cbn to get that refinery Secondly he does not have to buy nigerias crude but he will need to approach the fg/cbn dollar reserves to buy in dollars to whomever he chooses(giving speculation on the dollar purchase) Thirdly if dangote now chooses to sell in dollars to the Nigerian market where do you think Nigeria will source the dollars from? The same fg/cbn window Fourth if you say dangote will export his refined products you think it will sell in it's neighbouring countries who have access to cheaper products? Common! Dangote refinery is just a nnpcl version 2.0 which does not help the economy at all 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Exousiang01(m): 3:15pm On May 16 |
Lilosio: 650k barrels per day is the production capacity. 6m barrels is the feed stock. It simply means they will have 6m in the system or are you expecting them to go about buying 650 barrels everyday? Its called feedstock. And about his source, he is a business man whi is out to make profit, he became the richest black man by doing busing, i dont thinka nobody like you has a bragging right to advice him on what is profitable for him or not. E say no dey cap. You ignorants folks loL |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Chiefoh2: 3:22pm On May 16 |
rertylentl: It please you to abuse government than face the topic |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by CheapHomes1: 3:22pm On May 16 |
Gajagojo: why should I shut up? what if I dont shut up? have you shut up? pls tell me the meaning of "nuisance". 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:23pm On May 16 |
baralatie:I do not know whether he got 3 billion in waivers I have not seen the evidence perhaps you can share I do not see how that is relevant to this Assuming that is correct I fail to see the relevance here How is that relevant to his decision to buy WTI from America Let us assume that you are correct that he would have to approach foreign reserves instead of buying Nigeria crude in Naira the opportunity cost to Nigeria is it does not sell the exact same amount of oil in dollars and so those dollars will not enter the Foreign reserves BUT The Nigerian government would still be obliged to used those reserves to give the likes of Mobil and Shell and Chevron THEIR SHAR of any Naira that Dangote pays because the oil is generally often CO OWNED in JVs 60:40 and s they will seek to repatriate their money or you will hear of trapped funds Dangote cannot choose to sell in dollars to the Nigerian market and assuming he can then the Nigerian market would be getting dollars from the oil they did not sell to Dangote in Naira which they would in such scenario have sold for dollars bearing in mind today that the difference in price between Bonny Light and WTI which Dangote is bidding for today is $14 https://oilprice.com/oil-price-charts/ which is a huge amount The simple truth is many of you are very emotional and ignorant of the industry and should simply be silent |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Vadese1: 3:24pm On May 16 |
You see the life. We are together as one because of our Niger delta oil. Remove oil Nigeria will be no more. After all my region have done to develop your state, this is how you can show your appreciation. Paraman: 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Integrafamoo: 3:27pm On May 16 |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:27pm On May 16 |
CheapHomes1:Don't shut up continue running your mouth |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Blackdisciple(m): 3:30pm On May 16 |
So we don't have crude oil anymore in Nigeria.... |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Menclothing1: 3:31pm On May 16 |
Nigeria crude oil is sold years ahead in Jonathan and Buhari govt tinubu dont even have access to Nigeria oil income So you expect a private business not to buy his raw material where available |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by CheapHomes1: 3:31pm On May 16 |
Gajagojo:why should i not shut up? why should I continue running my mouth? what does it mean to run my mouth? 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Dynamicboss: 3:31pm On May 16 |
baralatie: Are you sure NNPC is not trying to play a safe game here? We do not know the reality on ground but Nigeria is a complex place to comprehend |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:35pm On May 16 |
MarketDispatch:What is the connection between part financing and buying crude in the USA why is buying crude in the USA a bad thing make us understand? NNPC is a shareholder in the Refinery so what? Why does that mean the refinery should buy crude from NNPC or Nigeria Dangote is buying a type of crude which today is $14 a barrel cheaper than Nigerian crude https://oilprice.com/ $14 X 1.4 million X 365 makes plenty of sense to me Nigerian Crude Bonny light is the most expensive in the market Dangote does not have to use it NNPC can sell their and do what they want with the cash |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:36pm On May 16 |
CheapHomes1:Ask your father he will know |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by CheapHomes1: 3:37pm On May 16 |
Gajagojo:did you ask yours before you came on the thread? 1 Like |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:38pm On May 16 |
CheapHomes1:Ask your father |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by gare(f): 3:41pm On May 16 |
Islie: why cant Dangote buy from Nigeria, would that not increase the prices of the by products ? |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:47pm On May 16 |
On average last year the US imported 8.5 million barrels a day it also exported just over 10 million barrelos daily Why did it not just stop all imports? The market is complex and dynamic The refining sector is totally different from the upstream sector They are decoupled and operate independently People need to understand this and generally refrain from talking about what they do not know |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:48pm On May 16 |
Dynamicboss:Since the aftermath of COVID nnpcl has to deal with unsold cargoes till date |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Bizibi(m): 3:48pm On May 16 |
bnanny:it is not for his business and it is embarrassing seeing dangote buying from a far away country because nnpc can't meet up..... |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by baralatie(m): 3:52pm On May 16 |
Gajagojo:When I saw your comment that you did not know that dangote waivers from the fg to the tune of $3 billion. I knew you were been fovy You can't tell dangote to buy in dollars and sell in nair It is tantamount to suicide |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Jlow2: 3:52pm On May 16 |
Nothing good can come from apc , everything about them is coated with lies and deceit, very unfortunate |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by tctrills: 3:53pm On May 16 |
Paraman:If this news does not scare you, nothing else can. We are learning that next year, Dangote will depend on oil from thousands of miles away to fuel an oil producing nation and you see it as vindication of your leaders? Just wow. |
Re: Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Bloomberg by Gajagojo: 3:53pm On May 16 |
baralatie:Emotions Whether he got waiver or not what has that got to do with this? You are just being emotive Suicide? How? What does that mean? If Dangote gets dollars from the CBN why can't he be asked to sell in Naira ? His Refinery at full capacity is 650000 barrels a day Nigeria does not use that much so he was always targetting foreign sales from day one. |
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