OPEC reports that the Dangote Petroleum Refinery’s production of petroleum products has significantly cut refined imports from Europe.
In its January 15, 2025, Monthly Oil Market Report, the organization noted that the refinery’s efforts in Lagos are redirecting gasoline volumes from international markets to new destinations.
“The ongoing operational ramp-up efforts at Nigeria’s new Dangote refinery and its gasoline exports to the international market will likely weigh further on the European gasoline market.
“Continued gasoline production in Nigeria, a country that has relied heavily on imports to meet its domestic fuel needs in the past, will most likely continue to free up gasoline volumes in international markets which will call for new destinations and flow adjustments for the extra volumes going forward,” the report partly read.
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