It has been revealed that the Dangote oil refinery has released tenders to sell two fuel cargoes for export, the first from the recently commissioned facility.
Built on a peninsula on the outskirts of Lagos, the commercial center of Africa, the refinery has a nameplate capacity of 650,000 barrels per day, making it the largest on the continent, owned by Aliko Dangote, the richest man in Africa.
Nigeria has long been dependent on pricey imports for almost all of the petroleum it uses, but the $20 billion refinery is expected to change that, potentially shifting the industry’s power and profit dynamics to the point where Nigeria becomes a net exporter of fuel to other West African nations.
According to sources, Dangote has granted Trafigura the first cargo, which is 65,000 metric tons of low-sulfur straight run fuel oil that is scheduled to load at the end of February.
According to three other sources, the second tender is for roughly 60,000 tons of naphtha. The deadline for the tender is February 15th, two of them said.
The two fuels that are being offered are the usual byproducts of a refinery processing light sweet oil via a crude distillation unit without additional capacity improvement.