Nigeria’s Dangote Refinery imports 2 million barrels of US WTI Midland crude


Nigeria’s Dangote refinery, the largest in Africa, is breaking new ground by securing its first-ever import of 2 million barrels of US WTI Midland crude.

Thank you for reading this post, don't forget to subscribe!

This move, scheduled for end-February delivery and facilitated by Trafigura Group, underscores the growing competitiveness of American oil in the global market.

With an initial processing rate of 350,000 barrels per day, the refinery aims to reach its full capacity of 650,000 barrels per day.

This strategic shift towards diversified crude sources, encompassing not only domestic but also African and international supplies, reflects Dangote’s vision to reshape regional dynamics in oil trade and position itself as a key player in global energy markets.

Aliko Dangote, the visionary behind Africa’s richest refinery, aims to transform Nigeria into an energy self-sufficient nation.

The refinery’s ability to process various feedstocks, including those from the US and Saudi Arabia, signals its pivotal role in shaping both local and international energy landscapes.

As the refinery gears up for significant gasoline production by March, it is poised to influence global market dynamics through strategic partnerships, setting the stage for a transformative impact on Nigeria’s energy sector and broader trends in the international oil trade.

Godwin Okafor
Godwin Okafor
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

Share post:



More like this

Services Account Reflects Higher Net Deficit, Equivalent to 4% of Nigeria’s GDP in Q3 2023

In our ongoing examination of the balance of payments...

Nigeria Infrastructure Debt Fund Facilitates N10 Billion Financing for Affordable Clean Energy Access

In a significant development, the Nigeria Infrastructure Debt Fund...

FirstBank Offers N36 Million in Rewards in FirstMobile Cash-Out Promo

Feb 20, 2024 – FirstBank, a leading financial institution,...

Nigeria Government and Malaysia to Ink MoU on Palm Biomass Development

In a recent announcement, the National Palm Produce Association...
WP to LinkedIn Auto Publish Powered By :