Dangote Petroleum Refinery is set to receive approximately 400,000 barrels per day (bpd) of Nigerian crude oil over the next two months.
Gatekeepers News reports that the refinery is expected to take delivery of around 24 million barrels of Nigerian crude in October and November, as it increasingly shifts to using local feedstock, according to a report by Bloomberg.
The 650,000 bpd plant is anticipated to receive 13 to 14 shipments from Nigeria’s monthly programme of about 50 cargoes. However, there may be delays in some shipments, as October’s list includes two cargoes that were delayed from September.
The scheduled volume for the next two months is significantly higher than the average of 255,000 bpd of Nigerian oil that Dangote processed during the first half of the year as it gradually increased its processing capacity. Additionally, it appears that the Dangote refinery has reduced its purchases of US crude, according to traders cited by Bloomberg.
On July 29, the Federal Executive Council (FEC) approved a proposal directing the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to the Dangote refinery and other refineries in naira, as per a directive by Tinubu. The naira-based deal was scheduled to commence on October 1.
Eche Idoko, the publicity secretary of Crude Oil Refinery-owners Association of Nigeria (CORAN), stated on September 30 that the sale would begin with refineries producing petrol.
Subsequently, the Nigerian Ports Authority (NPA) announced that it had started implementing the federal government directive to coordinate service provision from all stakeholders for the smooth sale of crude oil in naira to the Dangote refinery.
On October 5, the federal government officially announced that Nigeria had commenced the sale of crude oil and refined petroleum products in naira.
