The Dangote Petroleum Refinery is preparing to sell two fuel cargoes for export, marking the first such exports from the newly operational refinery.
Nigerians have been eagerly awaiting the release of products from the Dangote refinery since its inauguration in May of last year by former President Muhammadu Buhari.
However, regulatory hurdles reportedly delayed the refinery’s plan to release aviation fuel (Jet A1) and diesel for sale in the Nigerian market as initially anticipated.
Despite these delays, the refinery announced the commencement of production of Automotive Gas Oil (diesel) and aviation fuel (Jet A1) on January 12, 2024.
The Dangote refinery, situated on a peninsula near Lagos and boasting a capacity of 650,000 barrels per day, was built by Africa’s wealthiest individual, Aliko Dangote. It represents a significant shift for Nigeria, which has long relied on costly fuel imports.
The refinery’s first cargo, comprising 65,000 metric tonnes of low-sulfur straight-run fuel oil, has been awarded to Trafigura and is scheduled for loading by the end of February.
Additionally, a second tender has been issued for around 60,000 tonnes of naphtha, with a deadline of February 15 for bids. Specifics regarding the loading schedule for this cargo were not immediately available.
While the refinery gears up for exports, it is also preparing to introduce its products to the domestic market in the coming weeks. These initial cargoes are expected to be composed of standard products resulting from the refining process.
While it will take time for all refining units to become fully operational, the refinery has already commenced purchasing crude, with Nigeria’s state-owned oil firm, NNPC Ltd, serving as the primary supplier. Furthermore, Dangote has procured some US oil and is slated to receive two million barrels of US WTI Midland in early March, according to ship tracking data.
