Dangote Refinery Exports 17 Petrol Cargoes Amid Supply Crisis
• This Day • Business
Dangote Refinery, owned by Aliko Dangote, has successfully shipped 17 petrol cargoes to African nations as global supply constraints tighten due to disruptions caused by the ongoing Iran conflict. The refinery is currently operating at its maximum capacity of 650,000 barrels per day, which is crucial in alleviating the fuel crisis in Nigeria and across the continent. Reports indicate that the refinery can produce three million metric tons of urea annually, with recent increases in demand for alternative sources of supply. The Nigerian National Petroleum Corporation (NNPC) has limited allocations to Dangote Refinery, which has affected its ability to offset the impact of high crude prices. The refinery's officials expressed hope that crude cargo pricing in local currency could help reduce fuel costs. As oil prices remain volatile, the refinery's operations are critical in addressing the supply challenges faced by the region.
Topics: Business, Oil and Gas