The Nigerian National Petroleum Company (NNPC) Ltd, is set to supply Dangote’s new 650,000-barrel-per-day oil refinery with up to six crude oil shipments in December for trial operations.
The refinery is poised to reshape oil trading in the Atlantic Basin, potentially affecting European and U.S. fuel exports to Africa.
Located in the Lekki Free Trade Zone near Lagos, the Dangote refinery aims to make Nigeria a net exporter of fuels. An official of the NNPC Nigeria’s state oil company mentioned that six crude oil shipments, totalling 200,000 barrels per day, are part of a one-year deal for December, with future volumes to be determined mutually.
Dangote Refinery, backed by Africa’s richest man, Aliko Dangote, is expected to gradually improve its fuel output as it approaches full operational capacity.
Located in Lagos City Southern Nigeria, the refinery started commissioning in May after experiencing delays and exceeding cost estimates at $19 billion.
