NNPC Ltd. plans to deliver four crude oil cargoes, totaling four million barrels, as part of its February program to supply the $20 billion Dangote refinery. With six million barrels already delivered, the upcoming four cargoes will boost the total supply to approximately one billion barrels of crude.
Reuters reports that this supply is sufficient for the plant to conduct operational test runs in the upcoming weeks.
It stated: “OPEC member Nigeria currently relies on imports for most of the fuel it consumes, but the Dangote refinery is expected to make it self-sufficient and able to export fuel to neighbours in West Africa, potentially transforming oil trading in the Atlantic Basin.
“Dangote received 1 million barrels of Nigeria’s Agbami crude on Monday, lifting total volumes received since December to 6 million barrels.
“NNPC supplied the 650,000 barrel per day (bpd) plant with four of the cargoes, two of the sources said.”
Edwin Devakumar, the Group Executive Director for Strategy, Portfolio Development, and Capital Projects at Dangote, stated that the company did not make any requests for cargoes from NNPC in January.
“We are starting the refinery and if we continue to line up cargoes our inventory will build up as well as costs,” he said. “If everything goes well, we will run 8-10 days of operation then we will begin to line up cargoes.”
The refinery is exploring crude supplies from different countries, withholding additional information, according to him.
For February, the refinery has proposed four NNPC cargoes, as per one insider.
Another source mentioned that NNPC intends to wait for the plant’s trial operations before dispatching additional oil.
Dangote stated that the initial processing capacity is anticipated to hit 350,000 barrels per day (bpd), with the objective of achieving full capacity by year-end.
……….
Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500
