A new report by Bloomberg suggests that Dangote Refinery plans to purchase no less than 24 million barrels of US crude oil over the next year.
The purchase is necessary as the refinery increases its processing capabilities.
According to the report, the $20 billion refinery has issued a term tender to buy two million barrels per month of West Texas Intermediate Midland crude for a year starting in July, amounting to 24 million barrels of West Texas Intermediate Midland crude in one year.
It said the request for foreign oil by a refinery located in Africa’s top producing country demonstrates the significant role the facility will play in the international crude and fuel markets.
It is set to become the largest refinery in Africa once it is fully operational.
Dangote refinery to buy 24m barrels of crude oil from US – Report
A new report by Bloomberg suggests that Dangote Refinery plans to purchase no less than 24 million barrels of US crude oil over the next year.
The purchase is necessary as the refinery increases its processing capabilities.
According to the report, the $20 billion refinery has issued a term tender to buy two million barrels per month of West Texas Intermediate Midland crude for a year starting in July, amounting to 24 million barrels of West Texas Intermediate Midland crude in one year.
It said the request for foreign oil by a refinery located in Africa’s top producing country demonstrates the significant role the facility will play in the international crude and fuel markets.
It is set to become the largest refinery in Africa once it is fully operational.
