The Dangote Petroleum Refinery, Nigeria's largest, is taking the unusual step of reselling crude oil cargoes from the United States and Nigeria due to technical challenges at the plant.

Despite commencing production in January 2024, the refinery is facing operational issues, particularly with its crude distillation unit (CDU).

While a Dangote executive maintains that the CDU is functional, the refinery is reselling rare cargoes, including Nigerian Escravos and Forcados grades, as well as U.S. WTI Midland crude.

The refinery aims to become the largest in Africa and Europe, transforming Nigeria into a fuel exporter, but these technical hurdles may hinder its progress.

Constructed at a cost of $20billion by Africa's wealthiest individual, Aliko Dangote, the 650,000-barrel-per-day facility represents a significant investment in Nigeria's oil and gas sector.

Dangote's ambition is to eliminate Nigeria's dependency on imported fuel, an ongoing issue despite the nation being Africa's top oil producer.

According to Oli Price.Com citing Reuters sources, this situation arises amid other significant moves by the Dangote Group, which plans to list its refinery and a fertilizer subsidiary on the Nigerian stock exchange by early 2025.

This public listing strategy hopes to alleviate foreign exchange pressures on the Nigerian economy.

The refinery has been importing considerable volumes of U.S. crude, with more than 16 million barrels of West Texas Intermediate crude purchased in 2024 alone. This trend is expected to continue, with increased imports slated for the coming months.

While the plan is for the refinery to meet Nigeria's entire demand for refined petroleum products and generate a surplus for export, the current technical issues pose a significant hurdle.

The Nigerian Upstream Petroleum Regulatory Commission reached an agreement with oil producers earlier this month to supply crude oil to domestic refineries at market prices, ending a lengthy supply dispute.

https://saharareporters.com/2024/07/26/nigerias-dangote-refinery-begins-reselling-imported-crude-oil-amid-domestic-crisis#google_vignette

Technical problems. Another wahala.

Anyway, it is not uncommon for big gigantic projects like this refinery to experience technical problems here and there during the first 2 years of their existence. It is to be expected.

It will be fixed.

But the irony of our petrol refining saviour now turning into a crude oil reseller will not be lost on observers.

Tinubu wants to spoil dangote business and this is a big slap to all hard working northerners

LagosPrince:
Tinubu wants to spoil dangote business and this is a big slap to all hard working northerners

So, Mr Tinubu used remote control or juju to cause the technical problems?

The cabal will never allow dangite sell fuel

Finally, some positive movement!

It's high time we start utilizing our resources wisely.

Dangote is showing us the way; while others are busy complaining, he’s making moves that can benefit the economy.

Imported crude oil? It’s a strategic play to stabilize our market. Let’s see how the critics will spin this one.

We need more innovators like Dangote who aren’t afraid to take risks for the greater good of Nigeria.

This is a smart move by Dangote!

It's great to see the refinery making strides in the oil market. Keep it up!

Chinkoalhaji34:
Finally, some positive movement!

It's high time we start utilizing our resources wisely.

Dangote is showing us the way; while others are busy complaining, he’s making moves that can benefit the economy.

Imported crude oil? It’s a strategic play to stabilize our market. Let’s see how the critics will spin this one.

We need more innovators like Dangote who aren’t afraid to take risks for the greater good of Nigeria.

ChatGPT well done.

Chinkoalhaji34:
Finally, some positive movement!

It's high time we start utilizing our resources wisely.

Dangote is showing us the way; while others are busy complaining, he’s making moves that can benefit the economy.

Imported crude oil? It’s a strategic play to stabilize our market. Let’s see how the critics will spin this one.

We need more innovators like Dangote who aren’t afraid to take risks for the greater good of Nigeria.

bros abeg wetin you dey smoke? Abeg no take am again. Abeg

Islie:



https://saharareporters.com/2024/07/26/nigerias-dangote-refinery-begins-reselling-imported-crude-oil-amid-domestic-crisis#google_vignette

Nlfpmod

Those who claimed Dangote refinery is not completed, may be very right!

LagosPrince:
Tinubu wants to spoil dangote business and this is a big slap to all hard working northerners

Why is the Crude Distillation unit not working?

Chinkoalhaji34:
Finally, some positive movement!

It's high time we start utilizing our resources wisely.

Dangote is showing us the way; while others are busy complaining, he’s making moves that can benefit the economy.

Imported crude oil? It’s a strategic play to stabilize our market. Let’s see how the critics will spin this one.

We need more innovators like Dangote who aren’t afraid to take risks for the greater good of Nigeria.

Dried green leaves, very dangerous to your head!

Jlow2:
The cabal will never allow dangite sell fuel

Is that why he’s selling the crude supplied to him instead of refining them?

This has to be investigated.

-Kiss the truth!

Anyone telling you not to protest is your enemy, he/she wants not you to die in abject poverty and insecurity.

The better part is to come out en masse and protest

Hear story na

Ok

Balablu bhlu bhlu bulaba, Nigeria Government is your village people

E choke oOoOO

MAKE DANGOTE JUST DISMANTLE HIS REFINERY

OR BETTER STILL MAKE HE JUST BURN AM DOWN THEN CHASOUT WITH INSURANCE CLAIM MONEY

You see Tinubu and his people 🤣🤣🤣🤣🤣

Just watch how Nigeria will end up treating them like Abacha.

We asked Tinubu not to purchase any private jet because of the situation in the country and he refused.

But he wants us to listen to him now and stop this protest because this protest will disgrace him politically.

96ACE:
Una too talk joor, by July hope una no go say October. After all these hype if fuel is not sold below 500 then na white elephant project una run.

It ain’t like I’m a prophet.

He has denied it, so? He won't hide it if it was real because anything to paint the cabals bad, he will do that now.
Someone that got information about him selling the crude oil should also get information to where he is selling them to. But they never mentioned that in the article. At least most of these trades are open source and can be tracked with a click.

The nay sayers of this refinery are being proved right after all.

Lie from the pit of hell. It's just their imagination.

Hmm...

The more you look, the less you see...

From all indications, the opening of the refinery was premature. Probably he was rushed so the government can use that as an achievement and justification to remove subsidy.

But along the line, seems the government renegaded on its end of the bargain, leaving Dangote in a fix.

Dangote needs to calm down, and take his time to get it right. Regardless of what naysayers project, every sane Nigerian wants that refinery to function.

Walahi this corn3 is cursed.

It seems it is not only Kaduna, PH and Warri refinery that will never work in Nigeria

I thought this was fake news as read earlier

Islie:

https://saharareporters.com/2024/07/26/nigerias-dangote-refinery-begins-reselling-imported-crude-oil-amid-domestic-crisis#google_vignette

Whose report should we believe

chisomkachy:
The multi-billion dollars Dangote Refinery is not selling-off the crude oil it has received at the plant, and remains on course to produce petrol this August as previously scheduled, a senior executive at the group told THEWILL Friday night, in reaction to a news agency report which claimed the refinery is looking for buyers for its crude stock.

The executive, who reacted anonymously, told THEWILL that the news agency report was the handiwork of “Saboteurs targeting our 650,000 refinery. It is rubbish and this is obviously coming from the same people who would rather continue importing petrol from their refinery in Malta.”

The source further said a formal statement will be released by group to debunk the report.

https://thewillnews.com/exclusive-dangote-refinery-not-selling-off-crude-stock-will-deliver-petrol-in-august-as-scheduled-official/