NNPC Ltd, Nigeria’s state oil company, is set to supply Dangote’s new 650,000-barrel-per-day oil refinery with up to six crude oil shipments in December for trial operations, as reported by industry sources.
This refinery, backed by Africa’s richest man, Aliko Dangote, is poised to reshape oil trading in the Atlantic Basin, potentially affecting European and U.S. fuel exports to Africa.
Located in the Lekki Free Trade Zone near Lagos, the Dangote refinery aims to make Nigeria a net exporter of fuels. An NNPC official mentioned that six crude oil shipments, totaling 200,000 barrels per day, are part of a one-year deal for December, with future volumes to be determined mutually.
The refinery, which started commissioning in May after experiencing delays and exceeding cost estimates at $19 billion, is expected to gradually improve its fuel output as it approaches full operational capacity.