News

Dangote’s Massive Crude Arrival Puts Nigeria’s Petroleum Prices on Edge

Dangote Refinery has successfully received its first shipment of one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), marking a significant milestone in its operations. This initial delivery, as announced in a statement on Friday, made its way to the refinery’s Single-Point Mooring (SPM) and was subsequently unloaded into the refinery’s crude oil tanks.

In a pivotal moment for the company, this one million barrels of crude supply signifies the commencement of a larger plan involving the delivery of six million barrels by various suppliers. The initial phase is anticipated to provide the required 350 thousand barrels per day essential for the initiation of crude production at the refinery.

Dangote Refinery clarified that the subsequent four cargoes will be furnished by the Nigeria National Petroleum Company Limited (NNPCL) within a timeframe of two to three weeks, while the final two cargoes will be supplied by ExxonMobil.

“This supply serves as a fundamental catalyst for the refinery’s operations, setting the stage for the production of diesel, aviation fuel, and LPG. It is a precursor to the eventual production of Premium Motor Spirit (PMS),” the company stated, emphasizing the strategic importance of this shipment in facilitating the refinery’s initial operations and its future production capabilities.

Aliyu Mai Kakee

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