The 650,000 barrel-per-day Dangote refinery has sought crude oil import from Brazil amid the product availability challenge in Nigeria.
This is according to a recent report by Bloomberg.
According to the Bloomberg report, this adds to the large number of overseas barrels of crude feedstock that the Nigerian $20 billion indigenous refinery is importing.
According to traders with knowledge of the matter, Dangote refinery, which is still ramping up to full capacity, will receive a shipment of one million barrels of Tupi crude from Brazil for delivery in the second half of next month.
“The refinery, billed as pivotal in ending Nigeria’s dependence on foreign fuel, has already snapped up millions of barrels of American crude,” Bloomberg reports.
The publication said the latest purchases of non-Nigerian barrels likely reflect the most competitively priced, suitable cargoes.
However, the Dangote refinery has not officially responded to an inquiry on the matter as of the time of filing the report.
Recall that on July 11, 2024, the Dangote refinery purchased five million barrels of US crude scheduled for delivery next month and in September.
Similarly in May, the refinery planned a purchase of 24 million barrels of crude from the US for over a year.
The development comes amid an allegation by Dangote Refinery that International Oil Companies are frustrating its full-scale kickoff by selling crude at higher prices.
The company had earlier announced a plan to commence supply of fuel in Nigeria in mid-July 2024.
