Dangote Refinery Buys 16m Barrels Of Nigerian Crude For October

Nigeria’s Dangote Refinery has bought at least 16 million barrels of Nigerian crude oil for delivery in October, according to four industry sources cited by Reuters.

The volume is in line with purchases in recent months and significantly higher than the refinery’s average intake last year, as Africa’s largest refinery ramps up crude processing.

The 16 million barrels comprise monthly crude allocations from the Nigerian National Petroleum Company and additional volumes purchased through a tender.

The October supply is equivalent to about 520,000 barrels per day, representing most of the refinery’s 700,000 barrels-per-day processing capacity.

The increased crude purchases highlight the refinery’s rising demand for feedstock as it expands operations and moves closer to operating at a larger share of its installed capacity.