A report by Precise Intelligence, a new oil-and-gas trading analytics firm based in Geneva, has revealed that international oil traders, Vitol, Trafigura, and BP Plc are the dominant buyers of refined products from Dangote Refinery, securing 75 per cent of its output.
The trio, according to the report, account for the vast majority of the plant’s shipments since flows began ratcheting up around the middle of this year.
This is coming on the heel of the recent back and forth with local marketers on petrol prices and supply issues, with Aliko Dangote, the CEO of the refinery, insisting that the refinery has about 500 million liters of petrol in its storage.
Vitol is a global energy and commodities trading company in Rotterdam, Netherlands. It has its operations worldwide, with major offices in Geneva, Houston, London, and Singapore while Trafigura has its headquarters in Singapore but operates in over 50 countries.
BP Plc on the other hand is a British oil trading company and operates across various countries.
Precise figures show that automotive gasoil — diesel — is the biggest cargo type being lifted, followed by fuel oil.
Together, they account for more than 60 per cent of what’s being collected from the plant.
Other products include petrol and jet fuel.
