The Dangote Petroleum Refinery is set to export two shipments of fuel, according to trading sources familiar with the matter.
Nigerians have been eagerly awaiting the release of products from the $20 billion Dangote refinery since its inauguration in May last year by former President Muhammadu Buhari.
Reports indicate that regulatory approvals delayed the refinery’s plan to release aviation fuel and diesel for sale in the Nigerian market in January.
On January 12, 2024, Dangote refinery announced the production of Automotive Gas Oil (diesel) and aviation fuel (JetA1). The refinery, Africa’s largest, has a capacity of 650,000 barrels per day.
Nigeria has traditionally relied on expensive imports for its fuel needs, but the Dangote refinery aims to change that by becoming a net exporter of fuel to other West African countries.
The first cargo, 65,000 metric tonnes of low-sulphur straight run fuel oil, is scheduled to load at the end of February. The second tender is for about 60,000 tonnes of naphtha.
The refinery is also preparing to deliver its first fuel cargoes to the domestic market soon. It will take time for upgrading units to be operational, experts say.
Dangote has purchased some US oil and is expected to receive two million barrels of US WTI Midland in early March.
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