Dangote Refinery Announced Import of First Brazilian Crude Oil Shipment

The Brazilian crude is considered to be one of the most cost-effective and suitable oil grades available in the market.

SEATTLE (Oil Monster): The Dangote Refinery in Nigeria announced that it will receive its maiden shipment of Brazilian crude oil shipment next month. This marks a significant milestone in the country’s efforts to cut its reliance on imported fuel and boost its domestic refining capabilities. It must be noted that despite being the leading African oil producer, Nigeria has been relying on foreign fuel imports, mainly due to lack of adequate domestic refining capabilities.

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According to sources, the delivery of the cargo of one million barrels of Brazil’s Tupi crude from Petrobras is scheduled to be delivered during the latter half of next month. The agreement reached on crude delivery from Brazil is the result of Dangote’s efforts to diversify its crude oil sources, thus ensuring steady supply in support of its operations.

Commenting on the development, Aliko Dangote, CEO, Dangote Refinery noted that importing crude and refining it locally will significantly enhance Nigeria’s energy security. The ability to source crude oil from various countries, including Brazil, is crucial for the refinery’s success, he added.

The Brazilian crude is considered to be one of the most cost-effective and suitable oil grades available in the market.

Recently, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had reached an agreement with oil producers to ensure supply of crude oil to domestic refineries at market prices.