PureFace1:



So many ignoramus and illiterates like you in Nigeria reason why you the country is backward, who told you USA has no crude as natural resource ?

Imagine believing that one of the largest producer of crude oil globally have no crude and you pass through a school ?

The majority of them are pathetic on this site. The USA which is the number one highest producing crude oil producing country in the world is what one ignoramus is saying doesn't have crude oil as natural resources.

internationalman:


The majority of them are pathetic on this site. The USA which is the number one highest producing crude oil producing country in the world is what one ignoramus is saying doesn't have crude oil as natural resources.

What is really annoying is the way they display their ignorance and gullibility with so much confidence to the extent you may even start to think that they are experts on the matter.

CharlesofJesus:
You can inquire with your government or search online for further details. Are you aware of the challenges Dangote faced in getting the refinery operational? Surprisingly, even the federal government seemed reluctant. Why? Because it could potentially disrupt Nigeria's daily barrel volume, with Dangote possibly purchasing a significant portion. It's concerning that Nigeria hasn't shifted its focus from exporting crude to exporting refined products like PMS, Diesel, Engine oil, and jet fuel to earn foreign currency. It reflects a lack of forward-thinking on the part of the government.

You are right but let us enjoy dangote small although not at his own detriment

favor914:
microbekorede, Dangote should refine the diesel @ 950, then sell it to you at 850 abi?

Bro 950?
There is enough waiver for dangote
In this construction
We’ve served dangote in this country meh

Joey4321:



How did you come up with this number?

Dangote can still do better bro

PureFace1:


What is really annoying is the way they display their ignorance and gullibility with so much confidence to the extent you may even start to think that they are experts on the matter.

That's the reason no sane country takes Nigeria educated people seriously. They have already done an assessment of the quality and standard of Nigerian education system and the kind of graduates they produce...

Who is deceiving you.....you better wale up from your dream.....

iwaeda:


When we finished deceiving ourselves, truth will laugh at us.

Nahunger:


Lol
Where you con dey, abi sowore you dey support 😒😒😒

I am batified

Kenochi:
Twenty years ago,a certain Governor had a very big dream,to create an Industrial Hub that would create jobs and wealth for the citizens of his state. He went far and wide and got partners who believed in his dream.The project required long term planning and he had only a short time to rule
He took on the project regardless and today the dream is a Reality

A few years later,an Industrialist was stranded,he was looking to site his monumental Industrial complex and the states he initially wanted to site the project disappointed him,step in the Ex Governor and he convinced him to site his project in the Industrial Hub.....
This would require a lot of money as a large expanse of Land would be filled and reclaimed,was it worth it,but like a determined bull the project began
Today as they say,the rest is History

In 2024,this Ex Governor is now President and the Industrialist has finally started the project.
The President has another big and ambitious dream, he wants to build a very long and costly road.The project is a 700km Coastal Road that will open up the coastal areas to development and excite tourist to visit,like 20 years before he is facing a lot of opposition but like the determined bull that he is,the project has began

Twenty years from now,when the project is finished,Nigerians will look back and ask why people opposed the project

Coastal road has been in the design before he became the president.

Benwallt:


I am batified

😳😳😳
🫢

Most production well in Nigeria is at higher cost due to security and community issue

Cantonese:
Hm.

“ The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production”.

Cheaper oil imports from the United States? Abi I no see or read well?

Nahunger:


😳😳😳
🫢

Yes, you heard me right

BayoSteel:


You read that right.. you see after oil crisis in USA.. they quickly learn how insanely their economy depended on oil cos of cars n industrialization hence the need to be oil independent but they ain’t really an oil producing country.

Their strategy was to start building massive storage facilities, and then after building they started buying massively during cheap periods to store away and releasing into their country to avoid price surge n once in a while sell for profit.

Wash n repeat till now they have become independent and can go several several several years without even need import drop a drop hence reason why Dangote like many other oil companies is buying cheap from em as a supplier!!!

And US refineries (overall) were designed to process relatively heavy, sour crudes, which characterize the bulk of most non-US crudes, especially from Venezuela and the Persian Gulf (i.e., Saudi Arabia).

So - what do they do - to make the highest profit? Heavy crudes are imported, and blended with the lighter, sweeter current US crudes. These imported crudes (often Venezuelan or Persian Gulf) are less expensive, which is part of their charm for refineries. Then the displaced light, sweeter US crudes are exported, at higher prices, for (blending and) refining overseas.

It is a simple adjustment for the reality of the history of operating major, installed, industrial assets (i.e., refineries)

All these fuss about not wanting oil price to surge n how it’s gonna affect the world economy. Guess what it’s not gonna be so so severe for America I can say d same for Europe, just that China who is the biggest manufacturer of USA and d world will be affected and ask for more money for it product so technically oil prices affect everyone! I hope u understand what it mean now

You did not respond to my question.
I asked why Dangote would purchase oil from America, seeing that petroluem imports puts pressure on the Naira to Dollar trade.

By the way, America is the world's No. 1 producer of oil. I has been so since before I was born.

Please respond to the given question.

Victor468:
It meant cheap crude oil from the US. Nigeria cannot meet Dangote crude oil demand for now or else it won't be able to supply other merchants who have booked ahead. So, Dangote refinery gets some quantity from Nigeria and others from abroad.

Government has insisted that crude purchases must be in the naira. Crude is sold at international prices using the US dollar. The principal reason being to lessen pressure in the forex market and allow the naira pick up.
One wonders how our crude has been tied to some future transactions, putting the country in debt pressure and not allowing refineries to receive enough. Again with Port Harcourt coming up, that government too having to source for crude from the same areas like Dangote. We have Dangote and the modular refineries purchasing locally what they can get and sourcing the additional abroad.

How can the naira pick up? When will Nigerians have a breathe of fresh air and this pressure eased off their heads.

Benwallt:


Yes, you heard me right

You guys should enjoy...

Nahunger:


You guys should enjoy...

Thank you. You guys should enjoy too

Benwallt:


Thank you. You guys should enjoy too

Na salary owners like wahala