Dangote Refinery To Buy 24m Barrels Of Crude From US
> Dangote Refinery To Buy 24m Barrels Of Crude From US The call for US oil reflects Nigeria’s struggle to lift its own crude production. The Dangote Refinery was commissioned last month. Dangote Refinery has revealed plans to buy at least 24 million barrels of US crude over the next year as it ramps up its processing capabilities. A report by Bloomberg revealed that the $20bn refinery has issued a term tender for the purchase of 2 million barrels a month of West Texas Intermediate Midland (WTI) crude for 12 months starting in July, which amounts to 24 million barrels of crude in one year. The call for US oil reflects Nigeria’s struggle to lift its own crude production, which remains well below theoretical capacity, as well as Dangote’s willingness to tap cheaper supplies than it can find at home. It also highlights how influential the refinery will be in global crude and fuel trading. Elitsa Georgieva, Executive Director at Citac, an energy consultancy specializing in the African d...