Dangote Refinery Secures 12 Million Barrels of U.S. Crude to Address Local Supply Gaps
The $20 billion Dangote Petroleum Refinery is set to receive 12 million barrels of crude oil from the United States by February to mitigate challenges posed by insufficient local crude supply. Currently producing 500,000 barrels per day (bpd), the Lekki-based refinery aims to reach its full refining capacity of 650,000bpd by June 2025.
Local supply issues with the Nigerian National Petroleum Company Limited (NNPC) have forced the refinery to rely on international crude markets. To accommodate increased imports, the refinery is expanding its crude storage capacity by 41.67% with the construction of eight additional tanks.
Despite benefiting from the naira-for-crude initiative introduced by President Bola Tinubu, the refinery’s daily crude requirement of 550,000bpd remains unmet locally. This shortfall underscores the need for international sourcing as competition for local crude intensifies with the anticipated reopening of the Port Harcourt and Warri refineries.
The Dangote Refinery continues to supply petrol, diesel, and aviation fuel to Nigeria and neighboring countries, maintaining its role as a vital contributor to regional energy needs.
