Dangote Refinery targets end to crude imports from US, other countries by December

Dangote Refinery has announced plans to dump imports from the United States and other countries and rely 100 percent on domestic crude.

According to Bloomberg, the vice president of Dangote Industries, Devakumar Edwin, made this known during an interview.

The newspaper reports that Edwin noted that Dangote Refinery received half of its crude in June from local producers who will be able to sell more to the facility as their foreign supply obligations end.

In June, the refinery sourced 53 percent of its crude supply from domestic producers and 47 percent from the US, according to Bloomberg.

“We expect some of the long-term contracts will expire.

“Personally, and as a company, we expect that before the end of the year we can transition 100 percent to local crude,” Edwin stated.

Meanwhile, Edwin noted that to achieve the feat, there would be a significant increase in local oil production over the coming months.

Since the Dangote facility opened in 2023, the company has bought crude from the US, Brazil, Angola, Ghana, and Equatorial Guinea.

Meanwhile, Dangote Refinery is scheduled to take five cargoes from Nigeria’s state oil company in July, the same amount that it’s due to take up in August, according to a list of cargo allocations of millions of barrels of crude.

On Tuesday, Dangote Refinery announced a reduction of its ex-depot price of Premium Motor Spirit to N820 per litre.

Dangote Refinery targets end to crude imports from US, other countries by December