Dangote Refinery Boosts Nigerian Crude Purchases Amid War

Dangote Petroleum Refinery has ramped up its purchase of Nigerian crude oil in response to disruptions in the global oil market caused by the US-Iran war. This strategic move is intended to support Nigeria's push to process its oil domestically, as the refinery has recorded a total of 1.83 million metric tons of crude oil deliveries from Nigerian sources.

The refinery's offshore single point mooring terminals, SPM C1 and SPM C2, have been involved in sourcing crude from Nigeria's largest oil-producing assets, including Qua Iboe, Bonny Light, Bonga, Forcados, and others. The increased reliance on domestic feedstock underscores the growing role of Nigerian crude in sustaining operations at Africa's largest refinery.

The refinery's actions come amid concerns over the reliability of Middle Eastern oil supplies, prompting traders to diversify their sourcing. Additionally, the refinery has announced plans to process 700,000 barrels of crude oil per day, exceeding its official capacity of 650,000 barrels per day, further solidifying its status as the largest refinery on the continent.