https://en.sputniknews.africa/20240722/nigerias-dangote-refinery-reportedly-in-talks-with-libya-to-secure-crude-oil-supplies-1067593718.html
Nigeria's Dangote Refinery Reportedly in Talks With Libya to Secure Crude Oil Supplies
Nigeria's Dangote Refinery Reportedly in Talks With Libya to Secure Crude Oil Supplies
Sputnik Africa
Since the Dangote plant began operations in January, it has struggled to obtain sufficient crude supplies in Nigeria. As a result, the refinery has turned to... 22.07.2024, Sputnik Africa
2024-07-22T12:55+0200
2024-07-22T12:55+0200
2024-07-22T13:16+0200
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The Dangote refinery in Nigeria is now engaged in discussions with Libya in order to ensure a steady supply of oil, the media reported on Sunday.While specific details about the negotiations were not disclosed, it was mentioned that international traders and oil companies are among the largest purchasers of Dangote's gasoil, much of which is being exported.Edwin noted that Dangote's oil trading arm is fully operational, with teams stationed in both London and Lagos to manage supplies and facilitate product sales.Aliko Dangote's May promises appear to have fallen short, as Africa's richest man and chairman of the Dangote Group then said Nigeria would stop importing petrol in June thanks to his refinery.Speaking of Dangote, last Friday, the director of the Nigerian Midstream and Downstream Regulatory Authority informed journalists that Dangote had supposedly asked the authorities to halt the importation of diesel and aviation fuel. According to the director, this action appears to be an attempt to build a monopoly on the country's market.
https://en.sputniknews.africa/20240720/nigerian-regulatory-agency-head-accuses-dangote-of-threatening-with-monopoly-over-diesel-import-ban-1067575746.html
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Nigeria's Dangote Refinery Reportedly in Talks With Libya to Secure Crude Oil Supplies
12:55 22.07.2024 (Updated: 13:16 22.07.2024) Since the Dangote plant began operations in January, it has struggled to obtain sufficient crude supplies in Nigeria. As a result, the refinery has turned to importing crude from distant locations, including Brazil and the United States.
The
Dangote refinery in Nigeria is now engaged in discussions with Libya in order to ensure a steady supply of oil, the media reported on Sunday.
"We are talking to Libya about importing crude," Dangote refinery senior executive Devakumar Edwin told Reuters. "We will talk to Angola as well as some other countries in Africa."
While specific details about the negotiations were not disclosed, it was mentioned that
international traders and oil companies are among the largest purchasers of Dangote's gasoil, much of which is being exported.
"The biggest offtakers are the two big traders, Trafigura and Vitol and BP, and, to some extent, even TotalEnergies. But all of them are saying they are taking it to offshore," Edwin was quoted as saying.
Edwin noted that Dangote's oil trading arm is fully operational, with teams stationed in both London and Lagos to manage supplies and facilitate product sales.
Aliko Dangote's
May promises appear to have fallen short, as Africa's richest man and chairman of the Dangote Group then said Nigeria would stop importing petrol in June thanks to his refinery.
Speaking of Dangote, last Friday, the director of the Nigerian Midstream and Downstream Regulatory Authority informed journalists that Dangote had supposedly asked the authorities to halt the importation of diesel and aviation fuel. According to the director, this action appears to be an attempt to build a monopoly on the country's market.
