Dangote Refinery Reverts to US Crude Imports

Bizbooq

Bizbooq

November 22, 2024 · 1 min read
Dangote Refinery Reverts to US Crude Imports

The Dangote refinery, Africa's largest oil refinery, has allegedly reversed its commitment to exclusively purchase crude oil from Nigeria, instead opting to import from the United States. This decision comes just three months after the refinery pledged to support the local economy by buying crude from Nigeria.

According to sources close to the dealings, the refinery has procured around two million barrels of WTI Midland crude from Chevron Corp., set to be delivered in a month's time. This move is seen as a reversal of the refinery's earlier stance, which was prompted by Nigeria's decision to sell crude in its local currency.

The development highlights the challenges faced by Nigeria in supplying crude oil to the refinery, despite efforts to promote local content. The news is significant for the energy sector in Africa, as it underscores the complexities of promoting local economies while ensuring a stable supply chain.

Similiar Posts

Copyright © 2023 Starfolk. All rights reserved.