Nigeria’s NNPC to Supply Dangote’s Mega-Refinery with Crude Oil for Testing.
The Nigerian National Petroleum Corporation (NNPC) is gearing up to provide up to six shipments of crude oil to the Dangote Refinery for trial operations in December, according to industry sources.
This massive 650,000-barrel-per-day oil refinery, spearheaded by Africa’s wealthiest individual, Aliko Dangote, has the potential to revolutionize oil trading in the Atlantic Basin, with potential implications for European and U.S. fuel exports to Africa.
Situated in the Lekki Free Trade Zone near Lagos, the Dangote refinery’s primary objective is to make Nigeria a net exporter of fuels. NNPC officials have disclosed that this one-year deal for December will encompass six crude oil shipments, totaling 200,000 barrels per day.
Future volumes are expected to be mutually determined as the refinery, which commenced commissioning in May amid delays and cost overruns estimated at $19 billion, progresses towards full operational capacity.