According to reports, The Dangote Refinery, with a capacity of 650,000 barrels per day, is seeking alternative sources of crude oil due to challenges in Nigeria.
The refinery has arranged to import one million barrels of Tupi crude from Brazil, scheduled for delivery next month.
This move is part of the refinery’s efforts to secure a stable supply of crude feedstock, amidst difficulties in sourcing the product locally.
The refinery has also been importing crude oil from other countries, including the United States.
In recent months, the refinery has purchased significant quantities of American crude, with five million barrels scheduled for delivery next month and in September.
The refinery’s decision to import crude oil from overseas is likely driven by the need to secure the most competitively priced and suitable cargoes.
The development comes as the refinery faces allegations that International Oil Companies are frustrating its full-scale operation by selling crude at higher prices.
Despite these challenges, the refinery remains committed to commencing supply of fuel in Nigeria, with plans to start deliveries mid-July 2024.
