solmusdesigns:
Crude Oil has grade and class.. I believe he wants to import Western Texas Oil

More products, high yield, easily distilled

solmusdesigns:
Crude Oil has grade and class.. I believe he wants to import Western Texas Oil

More products, high yield, easily distilled

Akinomoakin021:
Nigeria’s giant new oil refinery Dangote, the largest in Africa, is set to import crude from the US in the coming months, a sign of just how competitive American barrels have become in the global market.

Trafigura Group sold 2 million barrels of WTI Midland to Dangote refinery for end-February delivery, said traders with knowledge of the matter. This is the first time that the giant refinery has purchased non-Nigerian crude, traders said.

Booming US oil supply over the past decade or so has transformed the global market, reaching as far afield as Asia. Nigeria’s economy is dependent on petroleum exports, meaning the deliveries from across the Atlantic are telling.

The new 650,000 barrel-a-day oil refinery, owned by Aliko Dangote, Africa’s richest person, started operations earlier this month. It is targeting an initial processing rate of 350,000 barrels a day before ramping up toward its full capacity.

The refinery is sourcing domestic crude under a supply deal with the trading arm of the state company Nigerian National Petroleum Co. The first cargo that arrived at the plant last month was Nigeria’s Agbami crude, sold by a trading unit of Shell Plc. This was followed by more Nigerian barrels including the nation’s Amenam, Bonny Light and CJ Blend streams.

chicfarmer:
West Texas Intermediate, WTI is cheaper than Nigeria's Bonny Light crude or Brent. Dangote is simply looking after his bottom line. If Nigeria gives him a better deal he will dump WTI. It's just business, people.

aribisala0:

That is an assumption Dangote did not tell you that . If it is cheaper there is a reason
Stop talking ignorantly

Nigeria does not have any oil to sell him .
It has already been sold for weeks ahead and the money spent.
That is why the Naira is crashing

aribisala0:

That is an assumption Dangote did not tell you that . If it is cheaper there is a reason
Stop talking ignorantly

Nigeria does not have any oil to sell him .
It has already been sold for weeks ahead and the money spent.
That is why the Naira is crashing

chicfarmer:

America's Wti is cheaper because it is heavier to refine. Nigeria's crude is light and easier to refine and hence attracts a higher price, that is why it is sometimes referred to as sweet crude. Dangote also didn't inform you that we don't have crude to sell him.

gaby:
Lol

Comedy Central of the World.

Dangote refinery will reduce fuel prices and stem the disappearing Naira, indeed...

abhosts:
The CBN gave tens of billions of dollars to dangote at cheap official rate with the expectation that it would save the country foreign exchange in return. If dangote wanted to import crude at global prices to for his refinery, he should have built the refinery with funds from oversees investors and not with cheap CBN dollars.

Akinomoakin021:
Nigeria’s giant new oil refinery Dangote, the largest in Africa, is set to import crude from the US in the coming months, a sign of just how competitive American barrels have become in the global market.

Trafigura Group sold 2 million barrels of WTI Midland to Dangote refinery for end-February delivery, said traders with knowledge of the matter. This is the first time that the giant refinery has purchased non-Nigerian crude, traders said.

Booming US oil supply over the past decade or so has transformed the global market, reaching as far afield as Asia. Nigeria’s economy is dependent on petroleum exports, meaning the deliveries from across the Atlantic are telling.

The new 650,000 barrel-a-day oil refinery, owned by Aliko Dangote, Africa’s richest person, started operations earlier this month. It is targeting an initial processing rate of 350,000 barrels a day before ramping up toward its full capacity.

The refinery is sourcing domestic crude under a supply deal with the trading arm of the state company Nigerian National Petroleum Co. The first cargo that arrived at the plant last month was Nigeria’s Agbami crude, sold by a trading unit of Shell Plc. This was followed by more Nigerian barrels including the nation’s Amenam, Bonny Light and CJ Blend streams.

abhosts:
The CBN gave tens of billions of dollars to dangote at cheap official rate with the expectation that it would save the country foreign exchange in return. If Dangote wanted to import crude at global prices to for his refinery, he should have built the refinery with funds from oversees investors and not with cheap CBN dollars.

aribisala0:


In your mind you are making sense

Is this Better than Bonny Light

Do not talk in an attempt to sound knowledgeable

Be quiet

He is buying abroad because Buhari has sold oil that will be produced next month and spent the money. A lot of the oil in the ground has been sold and the money spent.
Tinubu is not ready to confess

gaby:
Lol

Comedy Central of the World.

Dangote refinery will reduce fuel prices and stem the disappearing Naira, indeed...

Abufo:




nigerians do not have any idea the extent of the damage the fulanis inflicted on the Nigerian economy!

abhosts:
The CBN gave tens of billions of dollars to dangote at cheap official rate with the expectation that it would save the country foreign exchange in return. If dangote wanted to import crude at global prices to for his refinery, he should have built the refinery with funds from oversees investors and not with cheap CBN dollars.

chicfarmer:
West Texas Intermediate, WTI is cheaper than Nigeria's Bonny Light crude or Brent. Dangote is simply looking after his bottom line. If Nigeria gives him a better deal he will dump WTI. It's just business, people.

chicfarmer:
West Texas Intermediate, WTI is cheaper than Nigeria's Bonny Light crude or Brent. Dangote is simply looking after his bottom line. If Nigeria gives him a better deal he will dump WTI. It's just business, people.

lastkingsman:
Nigeria my country

We are now importing crude oyel (oil)

I remember vividly when US was importing oil from Nigeria during Obj admin, now we are now importing crude from US

Black man and stupidity suppose get title like stupidity-23 version 2.0, stupidity-19 version 2.2....

By the way, I thought NNPC invested 2.7bn USD for 20% stake in this project? Nnpc has 2.7bn USD to invest in this private business but FG is borrowing 2.5bn USD from Afriexim bank using our future oil sales as collateral.

I think the unity of Nigeria is now negotiable. We need to divide this country as fast as possible so everyone can go and develop their region. If we continue this rubbish we are practicing, Nigeria will implode and the impact will be catastrophic