The Newly Constructed Dangote Refinery in Lagos, Nigeria, is seeking to purchase two million barrels of US Crude- oil for the next 12 months as it ramp up processing rates, Bloomberg reported on Thursday.
According to the report, the Refinery has issued a term tender for the purchase of two million barrels a month of West Texas intermediate midland crude for 12 months starting from July.
Earlier in April, the PUNCH Newspaper reported that the 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper Crude-oil imports from the United States to feed it’s stock as production commences
Though, Bloomberg in there earlier report stated that the plant has been shipping it’s products for weeks while readying two units to enable gasoline ( petrol) output that will deliver the longer promised transformation to Nigeria.
” Dangote is going to Influence Atlantic Basin Gasoline markets this summer and for the rest of the year” said Alan Gelder, Vice President of Refining, Chemicals and oil Markets at the consultancy firm., Wood Mackenzie.
