Dangot refinery has reportedly imported crude oil from Equatorial Guinea.
Nigeria News Nalin Dangote oil refinery reportedly purchased the cargo of its first Equatorial Guinea medium sweet Ceiba Celerometer.
According to reports, the National Petroleum Corporation of Nigeria (NNPCL) has provided fresh crude oil to the Dangete refinery.
According to Argus Media, sources on the matter said that Dangote purchased 950,000 barrels of goods from April 12 to 13 on BP in the past week. The price level of the transaction continued.
Argus reports that most CEIBA exports are usually used in China. According to Vortexa, about 18,000 barrels were discharged daily last year, while three shipments were sent to Spain and another shipment arrived in the Netherlands.
It is understood that two cargoes in February and March this year sent a signal from Zhanjiang in China.
Traders reportedly pointed out that buying CEIBA goods is part of Dangote’s efforts to diversify its original resources.
Last month, the refinery purchased the first cargo of Algeria’s light sweet Saharan mixed crude from trading company Glencore, which will be delivered between March 15 and 20.
Market sources told Argus that Dangote appears to have purchased prices from Equatorial Guinea, while domestic grades are facing demand from Nigeria’s core European market, while a large number of Kazakh-Origin light acid CPC CPC Blend, US WTI and Meditererranany Sweet Crudes are well supplied.
Several European refineries will be under maintenance in April, which is also being used on demand.
NNPCL said it is currently in talks with the Dangote refinery to expand Naira’s picky arrangements, which involves Dangote’s price set in US dollars and paying the same fee for Naira.
“Any changes to the terms of the plan could force Dangote to increase the amount of foreign crude oil in its slate,” the report said.
Refinery sources told Argus in January that Dangert will have at least 50% of crude oil demand sources in the import market and are building eight storage tanks to facilitate that.
Aliko Dangote, founder of the refinery, said last month that the refinery plans to reach full capacity in March.
However, the rough shortage remains a challenge, which may prevent the facility from implementing its reinforcement plan.
NNPC spokesman Olufemi Soneye revealed in a recent statement that since October 2024, when the Naira-For-Crude deal began, it had already provided 48 million barrels of crude oil to the Dangote refinery. He added that since the refinery began operations in 2023, 84 million barrels have been provided.
“Under this arrangement, NNPC has produced more than 48 million barrels of crude oil since October 2024.
This shows that NNPC supplies an average of 300,000 barrels of crude oil to the Dangote refinery every day.
To achieve the 650,000 target, experts say refineries must look for raw materials elsewhere.
