By Adedapo Adesanya
The Dangote Refinery has concluded plans to export its first fuel cargoes, Reuters is reporting.
The 650,000 barrels per day refinery has issued tenders to sell two fuel cargoes for export, according to sources cited in the report.
The first cargo is 65,000 metric tons of low-sulphur straight-run fuel oil, which Dangote has awarded to Trafigura and is due to load at the end of February.
The second tender is for about 60,000 tons of naphtha, which according to the sources, closes on February 15 (today).
Dangote Petroleum Refinery had earlier in January commenced production of diesel and aviation fuel, seven months after it was inaugurated by former President Muhammadu Buhari two weeks before the end of his administration in May 2023.
Announcing the commencement in a statement, the company said the refinery has so far received six million barrels of crude oil at its two SPMs located 25 kilometres from the shore. The first crude delivery was done on December 12 2023, and the sixth cargo was delivered on January 8.
Dangote Refinery also imported some cargoes of crude from the world’s largest oil producer, the United States, as it could not depend on offerings made by the Nigerian National Petroleum Company (NNPC) Limited.
Meanwhile, it is not clear when the refinery will start producing Premium Motor Spirit (PMS), otherwise known as petrol and other locally used fuels but last month, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Independent Petroleum Marketers Association of Nigeria (IPMAN), and the Major Oil Marketers Association of Nigeria, (MOMAN) were authorised to lift petroleum products from Dangote Refinery.
These three groups constitute 75 per cent of the total market in Nigeria and have been registered by Dangote Refinery to distribute its products across the country.
Modupe Gbadeyanka