Indications have emerged that Dangote Refinery and Petrochemicals Plant might have curtailed its purchased of US crude and has in turn turned its attention to domestic supply.
Consequently, the refinery is set to receive 24 million barrels of Nigerian crude supply from the Nigerian National Petroleum Corporations Ltd in October and November.
This translates to 400,000 barrels a day of crude according to a list of cargo allocations.
This development was made known in a report by Bloomberg released on Monday.
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According to the report, the 650,000 bpd plant is expected to receive 13 to 14 shipments out of Nigeria’s monthly programme of about 50 cargoes and is significantly larger than the average 255,000 bpd of Nigerian oil taken by Dangote Refinery over the first half of the year as it gradually ramped up processing.
According to the report, some shipments may not be delivered as planned over the next two months as October’s list includes two cargoes already delayed from September.
The latest allocations suggest that the Dangote refinery has continued to curtail its buying of US crude, traders revealed.
On July 29, the federal executive council (FEC) approved a proposal by Tinubu directing the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to the Dangote refinery and other local refineries in naira.
By: Babajide Okeowo
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