Dangote Refinery Secures 16 Million Barrels of Nigerian Crude Amid Global Oil Supply Tightening
Nigeria's Dangote refinery has made significant purchases of Nigerian crude oil to meet its October requirements, tightening the country's export supply. The refinery acquired at least 16 million barrels through allocations from the Nigerian National Petroleum Company (NNPC) and additional cargoes obtained through tenders.
This purchase is equivalent to approximately 520,000 barrels per day, which would provide most of the crude required by Dangote's 700,000-barrel-per-day refinery during October. The final quantity could rise if the refinery makes further purchases.
According to Reuters sources, the NNPC will supply eight cargoes of Nigerian oil to the refinery in October, matching its monthly record reached in April, May, and August. Additionally, the state oil company will provide one cargo of US WTI Midland crude.