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Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline

Nigeria’s new Dangote oil refinery is ramping up gasoil exports to West Africa, capturing market share from European refiners, according to traders and shipping data.

According to Reuters, the $20 billion refinery is currently producing a lower grade of gasoil than anticipated as it awaits the restart of units necessary for producing cleaner fuels.

Consequently, the refinery is seeking buyers in neighbouring markets.


In May, gasoil exports from the refinery reached nearly 100,000 barrels per day (bpd), almost doubling April’s levels, data from analytics firm Kpler indicated. Most of these exports were directed to other West African countries, with one shipment sent to Spain.

However, preliminary data for June shows a significant drop in gasoil volumes, although overall oil product exports, including fuel oil, naphtha, and jet fuel, remained relatively high at 225,000 bpd.


Decline in European exports to West Africa
“The refinery has shifted the balance in West Africa,” impacting European markets, a European distillates trading source told Reuters.

Kpler data revealed that EU and UK gasoil exports to West Africa fell to a four-year low of 29,000 bpd in May, while Russian exports to the region dropped to an eight-month low of 87,000 bpd in the same month.

Dangote has been selling some high-sulphur gasoil in the Nigerian market, but a dispute has arisen with local fuel retailers over who is responsible for selling the dirtier fuel.


The Petroleum Industry Bill passed in 2021, mandated a sulphur content of 50 parts per million (ppm) to align with the sub-regional ECOWAS standards adopted in 2020.

However, the regulator permitted the sale of gasoil with sulphur content above 200 ppm locally from the beginning of the year until June, allowing local refineries and importers more time to comply with the new standard.

As European countries, including major hubs like Belgium and the Netherlands, tighten regulations on high-sulphur gasoil exports, cargoes from the Dangote refinery have found markets in regions with more lenient motor fuel standards.

More Insights
Earlier in May, the Chairman of the Dangote refinery, Aliko Dangote had stated that when fully completed, the refinery will supply product to West and Central African countries as its capacity is too big for Nigeria alone.

This decline in gasoil exports from Europe to West Africa confirms earlier reports by Reuters which stated that the refinery has the potential to reduce the $17 billion in oil imports into the continent and even lead to the closure of some European refineries.

In 2023, West Africa became the largest regional recipient of Europe’s gasoline exports, receiving roughly one-third of the continent’s average exports, which totalled 1.33 million barrels per day (bpd).

https://nairametrics.com/2024/07/02/dangote-refinery-begins-gasoil-exports-to-west-african-countries-as-imports-from-europe-decline/

Good

UncleAdebisi:
It is not good for someone to be jobless.

Is that the current situation you are in?

Is the year of trolling a cursed thing?

Thank God, we're gradually getting freed from the shells of the European mafia.

igbo hate this news

Hmmmmmmmmm

Paraman:
Dangote refinery begins gasoil exports to West African countries, as imports from Europe decline


https://nairametrics.com/2024/07/02/dangote-refinery-begins-gasoil-exports-to-west-african-countries-as-imports-from-europe-decline/

person wey never chop belle full dey drink tea 😆😆😆

Nigeria will be great again

Good

Give us fuel at 400 naira if cartel go only allow u drink water drop cup

Khyrvxjzy:
igbo hate this news

Abi ya papa

Remman:
Thank God, we're gradually getting freed from the shells of the European mafia.

U can believe anything oooo 😜😜😜 gullibility at it's peak

Oakenshield:
Give us fuel at 400 naira if cartel go only allow u drink water drop cup

Prayer warrior 😅🙏

Hahahahaha

What a nation. The poor will eventually eat dust while they are waiting for a Messiah to come and save them

You see the foolish people saying God help us. Did Kenya wait for a God or did they take to the streets in protest .

Foolish people, that's why I never give them charity. Stupid people .

Keep waiting for the corrupt politicians to grow a conscience and pity you smelly lot.
I swear the poor in Nigeria are so stupid . They don't have brains and only know how to rant and abuse each other online while pretending to be better than each other.
I am so happy the suffering is breaking them. Useless pigs.

Wait for them to come on this thread to come here and start crying for a savior. Stupid lazy lot always looking for handouts and give aways.

They will give you. A million excuses why Kenya could protest but they can't.

Dirty smelly lazy bunch.

Newsflash!! NO ONE IS COMING TO SAVE YOU. NO ONE!
Una go die finish. Stupid people

femtex007:
Nigeria will be great again

Till ur 10th generation 😆

Th man man with balls that control Nigeria economy indirectly...

helinues:
Good

They've been begging u to get a job since


Abeg nah 🙏

[quote author=Akfrenzy post=130754310]Till ur 10th generation 😆

Nay sayers. I didnt write that thing for you or ur family member. So back off my post
Enemy of nigeria

Chai..




Lobatan

Khyrvxjzy:
igbo hate this news

They hate good things

Peter Obi, IP0B/0BIDIENTS left the group

Peter Obi, IP0B/0BIDIENTS are in pains.

This good news will make Peter Obi, IP0B/0BIDIENTS to start crying.

Any good news about Nigeria will cause Peter Obi, IP0B/0BIDIENTS to start crying upandan

G

Oyibo people said the Refinery will never work. Any good thing that is not done by one of them, they will always be against it. How can people be so bitter and hateful

Many of you guys never read the news at all



Petrol with high sulphur will destroy peoples engine & cause environmental pollution

Nigerian oil cabal will not be happy with this news

Use Nigerian money to build refinery then product for sale to other African countries when Nigeria is in dire need