CEM REPORT, ENERGY | The OTIS tanker loaded with 950,000 barrel of Agbami crude is expected to arrive at Lekki, the nearest land port to Dangote’s offshore crude receiving terminal at about 8.00pm tonight 07 Dec. 2023, S&P Global has reported.
Aliko Dangote
The arrival of the Suezmax tanker, chartered by NNPL signals the commencement of refining operation by the gigantic Dangote refinery after a long wait characterized by postponements of commencement date that seemed unending.
After the official inauguration in May, commencement of operation was stalled by lack of domestic crude feedstock as reported by sources. This maiden supply of crude to the refinery confirms report that NNPCL had agreed to supply 6 million barrels of crude oil as feedstock to the Dangote refinery in December.
S&P Global, quoting the oil trader, said NNPC has chartered a number of other tankers to transport further crude shipments from offshore fields to the refinery later this month.
Dangote refinery is designed, at full operation, to yield 327,000 b/d of gasoline, 244,000 b/d of gasoil/diesel, 56,000 b/d of jet fuel/kerosene, as well as 290,000 mt/year of propane/LPG.
Nigerians’ hope of consuming locally produced petroleum products in the country and stop its persistent forex drain is now fully rekindled.
While this is good news for Nigeria and Nigerians, there is still apprehension concerning the pump price of Dangote Refinery produced gasoline when it finally hit fuel stations across the country. This is where the difference between importation and local production will be felt.
