In order to increase output and refining capacity, Dangote Refinery has started buying crude oil again from the US. The shipment of two million barrels of WTI Midland oil from Chevron Corp. is scheduled to arrive at the refinery next month, according to a Bloomberg story published on Wednesday. The recent acquisition follows a three-month break in foreign crude purchases in favor of domestic supply.
The most recent event might be a sign that the refinery is not receiving adequate crude supply from the Nigerian National Petroleum Company Limited or that the federal government’s naira-for-crude contract has stopped.
After a three-month break, the Dangote refinery bought its first shipment of US oil as it continues to increase production. According to the article, the plant bought roughly two million barrels of WTI Midland crude from Chevron Corp.
According to tanker fittings obtained by Bloomberg, Chevron reserved the supertanker Azure Nova to transport petroleum from the US Gulf to Dangote on or around December 5.
Remember how the Nigerian government alluded to the Naira-for-crude sale agreement with Dangote Refinery on October 5, 2024? But according to a recent statement by economist Kelvin Emmanuel, Dangote Refinery continues to purchase crude oil in US dollars from the Nigerian government.
