Dangote Refinery Taps Middle Eastern Crude Amid Global Market Shift

Nigeria's Dangote refinery has made its first crude oil imports from the United Arab Emirates (UAE), marking a significant shift in its supply chain. The refinery, which is capable of processing 650,000 barrels per day, imported 2 million barrels of crude from ADNOC, UAE's state-owned oil company.

The imports come at a time when global crude markets have weakened due to increased oil shipments through the Strait of Hormuz following the US-Iran ceasefire and weakening demand in Asia. This has led to an increase in Middle Eastern crude supply for other regions.

The Dangote refinery typically receives around 5-7 crude cargoes a month from Nigeria's state-owned NNPC, benefiting from lower shipping costs. However, it requires about 13-15 cargoes per month to operate at full capacity.