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Dangote Refinery Expects Second Oil Cargo & More Marketer Sign-ups.
Dangote Refinery Expects Second Oil Cargo & More Marketer Sign-ups.
Based on information obtained by NewsReport Nigeria, the Vitol-chartered Suezmax Otis carrying WTI Midland from Houston is presently en route, according to shipping reports and tracking data from Kpler. This is a significant step in aiding Nigeria’s oil sector as the refinery—which was founded in 2015—gets ready to receive its second shipment of US WTI, which is expected to arrive on March 13.
The strategic move to diversify the crudes being processed at the refinery reflects a calculated effort to ascertain the most economically viable options and optimize operational efficiency. Industry insiders suggest that this experimentation with different crudes could pave the way for lucrative deals for both buyers and sellers in the future.
Noteworthy is the recent development wherein Dangote Petroleum Refinery has enlisted the support of key industry players for the distribution of petroleum products from its state-of-the-art facility in Lagos. Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Oil Marketers Association of Nigeria (MOMAN) have all been registered as official partners for this venture.
Olufemi Adewole, the Executive Secretary of DAPPMAN, shed light on the collaborative efforts between the association and Dangote Petroleum Refinery, emphasizing the pivotal role that DAPPMAN members will play in ensuring seamless product distribution nationwide. This strategic alliance is poised to not only accelerate Nigeria’s economic progress but also provide DAPPMAN members with enhanced access to refined petroleum products.
Echoing similar sentiments, Alhaji Hammed Adekunle Fasola, the National Vice President of IPMAN, expressed optimism about the mutually beneficial relationship with Dangote Refinery. With a vast network encompassing 80% of the country’s retail outlets, IPMAN is well-positioned to facilitate the smooth distribution of petroleum products from the refinery across Nigeria.
Furthermore, MOMAN, under the leadership of Clement Isong, has also aligned its interests with Dangote Petroleum Refinery, marking a significant step towards becoming authorized marketers of its products. The registration of MOMAN members signifies a pivotal milestone in the journey towards commercial collaboration, with discussions on commercial terms poised to commence shortly.
The operational capabilities of Dangote Petroleum Refinery are nothing short of impressive, with the capacity to load a staggering 2,900 trucks daily at its truck-loading gantries. The products emanating from the refinery are designed to meet Euro V specifications, adhering to stringent international standards set by the World Bank, US EPA, European emission norms, and Department of Petroleum Resources (DPR) emission and effluent norms, all thanks to cutting-edge technology.
Notably, the refinery is geared to meet 100% of Nigeria’s domestic demand for all refined products, including gasoline (45 million litres per day), diesel (14 million litres per day), kerosene (10 million litres per day), and aviation jet (2 million litres per day), with surplus production earmarked for export.
The management of Dangote Industries Limited noted that the registration of distributors has commenced. It, however, added that the appointment process is ongoing. “All news regarding the Dangote refinery should not be taken as a matter of fact if not officially communicated by the company,” the management stated.
As the Dangote Refinery sets sail towards a future brimming with promise and prosperity, the collaborative efforts with key industry stakeholders underscore a shared commitment towards driving economic growth, enhancing operational efficiency, and fortifying Nigeria’s position as a key player in the global oil market.
