Gajagojo:
On average last year the US imported 8.5 million barrels a day it also exported just over 10 million barrelos daily

Why did it not just stop all imports?


The market is complex and dynamic

The refining sector is totally different from the upstream sector


They are decoupled and operate independently

People need to understand this and generally refrain from talking about what they do not know

I understand u.s oil but our oil is one of the best in the world and very attractive. We are not even supposed to be struggling to produce between 1-2m barrel.

Bizibi:
I understand u.s oil but our oil is one of the best in the world and very attractive. We are not even supposed to be struggling to produce between 1-2m barrel.

I don't get what you are trying to say
Even if we produce a 100m barrels a day

That does not mean that selling to Dangote is the best business decision

They are not connected

It is better to sell our own oil an d import cheaper oil for Dangote that gives you at today's prices a saving of $14 a barrel

Islie:

https://saharareporters.com/2024/05/16/dangote-refinery-buy-24-million-barrels-us-crude-oil-report

https://www.bloomberg.com/news/articles/2024-05-16/nigeria-s-new-mega-refinery-seeks-millions-of-barrels-of-us-oil?srnd=homepage-middle-east

What is the matter with us as people . Is it crude oil we don't have or no vessel to take it to dangote? Is he not going to pay if he buys it ? Why source from abroad. Why not open up oil wells and mandate all oil well to contribute to the monthly local supplies to our refineries ? Otherwise take the oil well from them.

Paraman:
Dangote is buying crude oil from suppliers in the USA, not Nigeria

So he can't buy from his home country?

lagosrd:


What is the matter with us as people . Is it crude oil we don't have or no vessel to take it to dangote? Is he not going to pay if he buys it ? Why source from abroad. Why not open up oil wells and mandate all oil well to contribute to the monthly local supplies to our refineries ? Otherwise take the oil well from them.

Dangote's family also owns oil wells in Nigeria.

lagosrd:


What is the matter with us as people . Is it crude oil we don't have or no vessel to take it to dangote? Is he not going to pay if he buys it ? Why source from abroad. Why not open up oil wells and mandate all oil well to contribute to the monthly local supplies to our refineries ? Otherwise take the oil well from them.

Same thing that is wrong with the USA as people last year they bought 8.5 million barrels and sold 10million plus abroad

What is wrong with us is we have Compulsive Opinion syndrome

We must talk on any and everything even when we don't have the slightest idea what the issues are

Gajagojo:
Same thing that is wrong with the USA as people last year they bought 8.5 million barrels and sold 10million plus abroad

What is wrong with us sf we have Compulsive Opinion syndrome

We must talk on any and everything even when we don't have the slightest idea what the issues are

You're a clown until you answer the questions I asked before making your uniformed reply. Don't be lazy to read before commenting

codemaniacs:


Dangote's family also owns oil wells in Nigeria.

Maybe I should summarize my questions to you. Does OPEC quota includes supply for local production? Or is it that Nigeria cannot supply those crude oil to those refineries ? Except there is a bilateral agreement between he owners and the US

According to copilot


The United States imported the following amounts of crude oil from Nigeria from January to May 2024:

January: 199,000 barrels/day
February: 165,000 barrels/day
March: 222,000 barrels/day
April: 136,000 barrels/day
May: 136,000 barrels/day

So we are selling to their refineries and they are selling to ours

The moment people understand that the upstream crude

Downstream refining are decoupled they will get it


Refining has nothing absolutely nothing to do with ownership of oil

Any one with Capital can set up a refinery any where there is sea access


Sea access is even more important than owning oil
The evidence is front of us for years we have been importing petrol from countries that have refineries but no oil



They are totally different businesses

For several reasons refiners will buy from other other countries no matter that they have

Even the great Saudi has been known to buy Bonny light

rertylentl:
Nigeria now importing crude oil from US wonder shall not end.

Calm down sir and read.

The refinery is 650,000 b/per day.
He’s importing 2m b/ month.

Do the maths and you’d realize that he’s not only refining the imported 2m per month if he refines is 650k per day.

Simple answer is that; Nigerias current crude production is not enough for him, and note that Nigeria currently at 1.2m per day, but then we have other commitments before his refinery came online.. now it’s upto the government to prioritize local refineries supply over exporting our crude. Doesn’t mean the country is bad because he’s importing some crude.

The US export crude, yet it is one of the world’s biggest importer of crude from other countries too.

Let’s stop looking at the bad side of things every time.

atobs4real:
Nothing will work in9ja. What is happening to our crude oil for dangote not to buy and refine?

2m a month is a very small percentage compared to what his refinery’s daily capacity is. Now where is he getting the large percentage from? From heaven?

Because Buhari don take Nigeria own borrow money finish. E finish even the country future before e comot.

lagosrd:


Maybe I should summarize my questions to you. Does OPEC quota includes supply for local production? Or is it that Nigeria cannot supply those crude oil to those refineries ? Except there is a bilateral agreement between he owners and the US

Nigeria can supply or sell to anyone but Nigerian politicians have colonial mentality so they don't have the intelligence to ignore and do without Nigeria's colonial thieves.

There could be an agreement with the U:S since W:orld Bank has a stake in the refinery which again is as a result of Nigerias politicians generation suffering from colonial mentality.

Nigeria crude oil has been mortgage as a result of heavy borrowing from FG

Basic123:
Niger delta people and our oil singers can rest now!




Crude oil can be sourced anywhere!

My own Refinery will be in Ibadan city or Kano city!

Lolzzzz... Our oil people go rest small ... Lolzzzz

Basic123:

How will Peter pethief obi,the fraud, with his fish brain solve that kind of problem??

Someone with fish brain that's a billionaire, so what do we call you that's poor and wretched. Eshinshin brain abi. You even get 2k for your account so? Olofo..

rertylentl:
Nigeria now importing crude oil from US wonder shall not end.

I would rather import raw materials like crude oil, process them into refined oil and other products, and sell them at a margin by doubling their value. This is What Singapore, India, and South Korea do. They industrialise oil and gas into finished products for sale at a higher margin.

BTW, USA refineries are very old and not designed for Shale oil, which is light crude oil. Nigeria is actually becoming industrialized with over 1.5 million tonne refinery capacity.

Exousiang01:


650k barrels per day is the production capacity.
6m barrels is the feed stock.
It simply means they will have 6m in the system or are you expecting them to go about buying 650 barrels everyday?
Its called feedstock.
And about his source, he is a business man whi is out to make profit, he became the richest black man by doing busing, i dont thinka nobody like you has a bragging right to advice him on what is profitable for him or not.

E say no dey cap.
You ignorants folks loL

Dangote refinery where nnpc owns 20% ?

You are quoting nonsense... A business which is supported fully by a country is digging the common folks to slavery and you here clapping...

How does it profit Nigeria buying from USA? When there are cheaper gas in the world, even most European countries distance themselves from US oil before the Russian conflict..

Why did they do so?

China and India source most of its oil from Russia and Iran and the industrial complex have accelerated far more then Europe which has switched to the USA due to sanctions on Russia...

Common sense is far from you if celebrate this colonial deal between dangote and USA

Gajagojo:
I don't get what you are trying to say
Even if we produce a 100m barrels a day

That does not mean that selling to Dangote is the best business decision

They are not connected

It is better to sell our own oil an d import cheaper oil for Dangote that gives you at today's prices a saving of $14 a barrel

okay I get it now.....

Lilosio:


Dangote refinery where nnpc owns 20% ?

You are quoting nonsense... A business which is supported fully by a country is digging the common folks to slavery and you here clapping...

How does it profit Nigeria buying from USA? When there are cheaper gas in the world, even most European countries distance themselves from US oil before the Russian conflict..

Why did they do so?

China and India source most of its oil from Russia and Iran and the industrial complex have accelerated far more then Europe which has switched to the USA due to sanctions on Russia...

Common sense is far from you if celebrate this colonial deal between dangote and USA

20% is not enought for NNPCL to call the shots and like I said earlier the FG does not completely own NNPCL.
And yes the chairman calls the shots and he is a business man, he grew from the grandson of a wealthy man to become the richest black man, he knows better than you.
I will listen to Dangote before I listen to you who is a nobody.
Dangote will never take a business decision that will cost him more.
Amd how does one mans refinery enslave you?
By the way the aim of Dangote Refinery is to first of make profit for its shareholders which what every companu does. So you asking how it profit Nigerians is what I dont understand.
Was the company set up to make profit for Nigerians?

Bizibi:
okay I get it now.....

Don't take my word for it do Some research so you are better informed

Nigeria's crude is called Bonny Light

Dangote is bidding for WTI

You can check and compare the prices here
https://oilprice.com/oil-price-charts/

rertylentl:
Nigeria now importing crude oil from US wonder shall not end.

Its Dangote that's importing not Nigeria govt

By the way, Almost all countries import Oil from another.. Even US with her large oil deposit still imports oil from other countries.

Story

Basic123:
Niger delta people and our oil singers can rest now!




Crude oil can be sourced anywhere!

My own Refinery will be in Ibadan city or Kano city!

See them wey no understand say refinery business no be mama put business, u tink say u go just wake up out one for ibadan or Kano? U need head to know say in today's Nigeria you can't cite a refinery in ibadan and Kano, where will you get your feedstock from? Which assets will deliver it to your refineries unlike Lagos where tankers can berth and unload it. You think say u dey mock Niger Delta but na urself u dey mock for thinking refinery business na mama put business that can be cited anywhere in the country.

Lol.

See why transparency and accountability is good.

6 pages of speculation & no one can actually say which loans and for how long Nigeria's crude oil was mortgaged.

The government refuses to be accountable to the people. When sane Nigerians speak up, the apc attack dogs would insult and turn it to hate speech.

All of a sudden, for the apc clowns, there is nothing wrong for dangote to import crude oil.

Apc is a disaster.

What a shame that the Nigeria poor redundancy is dragging the Dangote refinery's strenght backward？ May God help us!

What a big joke.

Islie:

https://saharareporters.com/2024/05/16/dangote-refinery-buy-24-million-barrels-us-crude-oil-report




https://www.bloomberg.com/news/articles/2024-05-16/nigeria-s-new-mega-refinery-seeks-millions-of-barrels-of-us-oil?srnd=homepage-middle-east

We need our own refinery.

Dangote is a business man aim at gain and profit . His refinery solve no problem in Nigeria.

Tinunu should make all four refineries of this country to be working. That is all we want to reduce the price.of fuel that had crippled out economy

Nawaoooo...a country blessed with abundant crude oil still going to import crude oil.... what a shame

So how much is he buying the oil from us . It’s oil from Dubai and Saudi Arabia cheaper ? Plus are we having issues drilling that many barrels that he needs to import crude oil to refine and then sell at what rate ?

Gajagojo:
When you have no clue just keep your mouth closed

People will assume you are smart
It is not compulsory to speak

The issue is beyond your knowledge and brain power

You simply have no clue

Then make your point

codemaniacs:


Nigeria can supply or sell to anyone but Nigerian politicians have colonial mentality so they don't have the intelligence to ignore and do without Nigeria's colonial thieves.

There could be an agreement with the U:S since W:orld Bank has a stake in the refinery which again is as a result of Nigerias politicians generation suffering from colonial mentality.

Thanks for the gentle man's response . I appreciate you bro