Dangote has purchased 5 million barrels of US crude scheduled for delivery next month and in September, Bloomberg is reporting.

According to the report on July 11, the refining company also started a tender process in which it intends to buy a further 6 million barrels of American crude for September.

Dangote refinery, according to the report, has bought more than 16 million barrels of West Texas Intermediate crude oil so far this year.

In August and September, the proportion it will purchase from the US may increase, according to tenders for new supply seen by Bloomberg.

“For Nigeria and Dangote, the use of US crude likely reflects where there are spare barrels available to buy in the world and the most competitive price,” the report reads.

“The refinery has been billed as a way of helping Nigeria wean itself off foreign fuel supplies.

“The refinery near Lagos mostly runs on local crude supplies that can reach the plant from offshore terminals in as little as a couple of days.”

The report said tracking data indicates that the refinery took in more than 41 million barrels of feedstock in the first half of the year as it completed test runs and gradually raised processing rates.

About a quarter of that has been American supply, according to Bloomberg.

With the latest purchase, Bloomberg said the inflows of American feedstock may increase significantly.

In May, the refinery planned a purchase of 24 million barrels of crude from the US for over a year.

reiddecuti:
And those ronus thinking that Dangote refinery will be the game changer instead of pressing government neck to revive at least 2 out of the 4 government own refinery, they said no.

This is how the government (the really cabals) have sworn never to see the petroleum sector work, hence the reason Dangote might find it difficult sourcing crude from Nigeria.

The eldorado we yell in this country is still far.

dre11:


https://www.thecable.ng/report-dangote-refinery-gets-5m-barrels-of-crude-oil-from-us/amp/

GanagiBitrus:
Oil that could have been sourced locally.

RealLordZeus:
No be Dangote's fault.. he's a business man..

Nigeria IOCs are not giving him oil, will he keep waiting and put his business so that the naysayers will say they are right.

If I'm in his position, I will do exactly the same thing.

ceejay80s:
Useless country
The day I become president of Nigeria, I swear I will make sure a lot of thieving politicians head be cut off at bar beach,

Gajagojo:
What difference will that make ??

ednut1:
Nigeria NNPC has 51% of the crude oil production of IOC. Why are they not giving him. They have used the oil as collateral for loans

StormpyBee:
I don't understand this news.

How can a company, located in an oil producing country be importing oil. There's something wrong with this country. Its apparently say, na we the do ourselves. Chi!

What a shame of a nation!

NNPC is a big fraud!

I am ashamed!

ednut1:
Nigeria NNPC has 51% of the crude oil production of IOC. Why are they not giving him. They have used the oil as collateral for loans

GanagiBitrus:
Oil that could have been sourced locally.

StormpyBee:
I don't understand this news.

How can a company, located in an oil producing country be importing oil. There's something wrong with this country. Its apparently say, na we the do ourselves. Chi!

What a shame of a nation!

NNPC is a big fraud!

I am ashamed!