Dangote refinery resumes purchase of crude oil from US

Dangote

Dangote Refinery has resumed the importation of crude oil from the United States to bolster refining capacity and production.

The refinery is set to receive two million barrels of WTI Midland crude from Chevron Corp next month, Bloomberg reports

The refinery resumed the practice of buying crude oil from foreign entities after a three-month break during which it sourced for crude oil locally.

The latest development could mean that the naira-for-crude deal by the federal government fell through or that the refinery is not getting enough supply from the Nigerian National Petroleum Company Limited.

Dangote refinery purchased its first shipment of US oil after a hiatus of three months as the site continues to ramp up production.

“The plant purchased about two million barrels of WTI Midland crude from Chevron Corp.,” the report said.

According to the publication, Chevron booked the supertanker Azure Nova to load crude from the US Gulf around December 5 to Dangote, according to tanker fixtures seen by Bloomberg.

Recall that on October 5, 2024, the Nigerian government hinted at the Naira-for-crude sale deal with Dangote Refinery.

However, an economist, Kelvin Emmanuel, recently said Dangote Refinery still buys crude oil from the Nigerian government in dollars.

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