NIGERIA’S MEGA REFINERY DANGOTE TURNS TO US OIL.


• Trafigura sells 2 million barrels of WTI Midland to Dangote.

• First time Dangote refinery buys any non-Nigerian crude.


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.

Source:
https://www.bloomberg.com/news/articles/2024-01-29/nigeria-s-mega-refinery-turns-to-us-oil-as-ramp-up-gathers-pace

Meanwhile..

A political critic is of the strong opinion that this trade is a cover-up trade.

He is seriously doubting whether Dangote is actually importing crude oil.

Let's continue to watch and see.

Western Texas Oil is easier to distill, and has more yeild

Another method to sale our oil that's been produced locally at a very high price.. shege continua

Just imagine the excuses so that they can continue to put more pressure on the dollar while the naira weakens more taking their products out of reach of the common man

solmusdesigns:
Western Texas Oil is easier to distill, and has more yeild

And how is that not putting pressure on the forex?

Fake news

proff010:
Fake news

Really??

So Bloomberg carry fake news?
Ok naa.

Nbote:


And how is that not putting pressure on the forex?

With Dangote cement and fertilizer selling and earning dollars accross Africa, I doubt Dangote refeniry will lack dollars