• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Dangote Refinery Reselling Imported, Nigerian Crude Oil – Reuters

by Leadership News
1 year ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Dangote Petroleum Refinery, is reselling crude oil cargoes from both the United States and Nigeria.

Advertisement

Reuters sources indicate that this move, unusual for refineries, stems from technical challenges at the refinery.

A Dangote executive, asked about the offers and talk in the market that the refinery is having operational issues affecting the crude distillation unit, said the CDU is in operation.

The refinery, which began production in January 2024, aims to be the largest in Africa and Europe once fully operational. It’s designed to shift Nigeria from a fuel importer to a fuel exporter. However, recent events suggest the refinery is grappling with operational issues, specifically with its crude distillation unit (CDU). Despite these claims, a Dangote executive insists the CDU is functional.

Cargoes of Nigerian Escravos and Forcados crude were among the grades being offered, as well as U.S. WTI Midland crude, the sources told Reuters. The plant has been importing several crude cargoes a month, traders have said.

RELATED

Parallex Bank To Provide Limitless Banking Experience

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

21 hours ago
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration

Ministry Launches Portal For Tracking Real Estate Fraudsters

21 hours ago
ADVERTISEMENT

Constructed at a cost of $20 billion by Africa’s wealthiest individual, Aliko Dangote, the 650,000-barrel-per-day facility represents a significant investment in Nigeria’s oil and gas sector. Dangote’s ambition is to eliminate Nigeria’s dependency on imported fuel, an ongoing issue despite the nation being Africa’s top oil producer.

This situation arises amid other significant moves by the Dangote Group, which plans to list its refinery and a fertiliser subsidiary on the Nigerian stock exchange by early 2025. This public listing strategy hopes to alleviate foreign exchange pressures on the Nigerian economy.

The refinery has been importing considerable volumes of U.S. crude, with more than 16 million barrels of West Texas Intermediate crude purchased in 2024 alone.

ADVERTISEMENT

This trend is expected to continue, with increased imports slated for the coming months.

While the plan is for the refinery to meet Nigeria’s entire demand for refined petroleum products and generate a surplus for export, the current technical issues pose a significant hurdle.

 

The Nigerian Upstream Petroleum Regulatory Commission reached an agreement with oil producers earlier this month to supply crude oil to domestic refineries at market prices, ending a lengthy supply dispute.

 

 


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Dangote Refinery
SendShare10881Tweet6801Share
ADVERTISEMENT
Previous Post

Shippers’ Council Awaits Senate, As Reps Passes Port Economic Regulator Bill

Next Post

Lekki FTZ DMD Advocates Innovative Solutions For Affordable Housing

Leadership News

Leadership News

You May Like

Parallex Bank To Provide Limitless Banking Experience
Business

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

2025/08/28
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration
Business

Ministry Launches Portal For Tracking Real Estate Fraudsters

2025/08/28
Renewed Confidence In Aviation Sector Raises Local Airlines Participation – NCAA
Business

Lagos, FCT, Rivers Generate 70% Of Aviation’s N215.6bn GDP Contribution

2025/08/28
Air Peace Lauds Minister Over Installation Of Airfield Lighting On Lagos Airport
Business

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

2025/08/28
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

2025/08/28
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Tinubu Promises Continued Support For Capital Market Reforms, Expansion

2025/08/28
Leadership Conference advertisement

LATEST

Nigeria’s Top Oil Boss Walking into A Trap

Herders Ask Security Agencies, Others To Disregard Alleged Killings In Bokkos

Commissioner Tasks Kwara Teachers On Innovation

320 Kwara Schools Get Hygiene Wash Stations

Church Donates Food, Hygiene Items To Vulnerable Families In 5 States

Nigeria, Team Europe Chart New Course For Data Exchange

Again, 4 Killed In Benue Attack

AIG Hails Dangote Cement CSR Initiatives

Experts Task Schools To Integrate AI Into Curriculum

FG Urged To Provide Mentorship, Harness Youths’ Digital Skills For Security

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.