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businesspost - 1 month ago

Dangote Refinery Buys US Crude Oil Amid Nigeria’s Faltering Production

By Adedapo Adesanya Dangote Refinery has revealed plans to buy at least 24 million barrels of US crude oil over the next year as it ramps up its processing capabilities. A report by Bloomberg revealed that the refinery has issued a term tender for the purchase of 2 million barrels a month of West Texas Intermediate Midland (WTI) crude for 12 months starting in July, which amounts to 24 million barrels of crude in one year. The push for US oil comes as Nigeria’s struggle to lift its crude production, which remains well below the country s target of 1.8 million


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