Nigeria's Dangote Refinery Makes First Petrol Export to Cameroon

SEATTLE (Oil Monster): Nigeria's Dangote Refinery said on Wednesday it has made its first export of petrol to Cameroon, a milestone that could pave way for regional energy integration and help stabilise fuel prices across the region.

The 650,000 barrel refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity and is expected to change trading of refined products in the Atlantic basin.

The company did not provide details of how much was exported.

Cameroon's energy firm Neptune Oil said in the statement that both companies were exploring new initiatives to establish a reliable supply chain that will help stabilize fuel prices and opportunities across the region.

Neptune Oil said the petrol supply transaction was executed without intermediaries.

Courtesy: www.reuters.com