Dangote Refinery Awaits First Crude Oil Shipment from Brazil

SEATTLE (Oil Monster): The Nigerian Dangote Refinery is scheduled to receive its first shipment of crude oil from Brazil. The refinery will purchase one-million-barrel cargo of Brazil’s Tupi crude, which is scheduled for delivery by second half of August. This is the first purchase of Brazilian crude oil by Nigeria.

The 650,000 barrels per day (bpd) refinery has been playing a crucial role in reducing the country’s reliance on fuel imports. Despite being rich in oil resources, the country has been a major importer of oil, due to lack of domestic processing capability. The import of oil from Brazil will help the refinery another step closer towards full operational capacity.

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The refinery is expected to boost the country’s energy security. Additionally, it will also result in supply of fuel at lower prices to the citizens of the country.

Earlier this week, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had entered into an agreement with oil producers to supply crude oil to domestic refineries at market prices. This agreement will help the country secure a stable supply of crude at market prices for its refineries.

Of late, the Nigerian refinery has been in controversies as well. The regulatory authorities had accused Dangote Refinery of rolling out sub-standard petroleum products. However, the company had refuted the allegation.