Business News

First Major Crude Supply to Dangote Refinery to arrive December 7 (today)

In a notable development for Nigeria’s oil industry, the OTIS tanker, carrying a substantial cargo of 950,000 barrels of Agbami crude, is currently en route to Lekki, Nigeria.

This shipment, scheduled to arrive at approximately 1900 GMT today (8 pm Nigerian time), marks the first major supply of crude to Dangote’s offshore crude receiving terminal.

The Suezmax tanker, chartered by NNPCL, embarked on its journey on December 6. According to the S&P Global MINT tanker tracking platform, the vessel’s destination is Lekki, the closest land port to the Dangote refinery. This move signals the beginning of operations for the Dangote refinery, a significant addition to Nigeria’s oil refining capabilities.

The Dangote refinery, a privately owned facility, was completed in May 2023. Despite its completion, the refinery has remained inactive, awaiting domestic crude feedstock. NNPC, which holds a 20% stake in the refinery, committed to supplying 6 million barrels of crude oil in December, as per company sources on November 5.

More to follow…