Tristan James Jr
The world’s single train refinery, the Dangote Refinery, has made an essential move by issuing tenders to sell its first two fuel cargoes for export in Nigeria.
The development is an essential step for the newly launched refinery, which has generated a buzz in the industry.
A Reuters report quotes three sources saying that the first cargo of 94,000 metric tons of sulphur straight run fuel oil, which Dangote has awarded to Nigeria, is due to load at the end of this week. Before 25th February 2024.
The second tender is for about 70,000 tons of naphtha, which three other sources told Reuters, with the tender started on February 05, 2024.
The development comes after reports emerged that the refinery was preparing to deliver its first fuel cargoes to the domestic market in early weeks today.
“Significant oil marketers in Nigeria had registered with Dangote Refinery to lift and distribute petroleum products from the $20 billion facility”
INSIDERNOTES
The Petroleum Products Outlets Owners Association of Nigeria said that PETROAN has been in talks with the refinery management holding on a conclusion to supply products from the facility as soon as possible.
The report outlined the seven significant marketers, including 11 Plc, Conoil Plc, AA Rano, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc and NNPC Retail.
Adeola Yusuf, Energy Policy expert and Lead of Platforms Africa said the development is good and did say that the move will affect local pricing positive.
In another report the Port Harcourt refinery is set to begin operations after receiving 745,000 barrels of crude oil from #Shell Petroleum Development Company Limited.
The crude oil supply is the first to be made in the past few years due to the poor state of the plant, which called for rehabilitation and testing to ensure readiness for sustainable operations.
Port Harcourt refinery begins production after years of neglect Shell stated that the recommencement of crude oil supply from the BOGT to Port Harcourt Refinery is a significant achievement and a game changer for the industry and Nigeria.
The intensive preparations, partnerships, and dedication of both teams involved were responsible for overcoming challenges and ensuring safe and efficient supply operations.
According to Shell, the move will support the government’s plan of a steady supply of petroleum products to the downstream market and other associated benefits to Nigeria’s economy like the #150naira sale back from October, 7th, 2023.
FG gives oil firms in Nigeria strict orders on Dangote, other refineries as reported that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has ordered oil companies in Nigeria to supply about 934,000 barrels of crude oil daily to local refineries for the next seven months beginning from January, 1st, 2024.
The initiative is part of Nigeria’s efforts to ensure regular supply to local refiners for domestic consumption.
About 12 local refineries are expected to begin production in the coming weeks, including the 960,000 capacity Dangote refinery and Nigeria’s four refineries in Port Harcourt, 2 in Warri, and 3 in Kaduna.
The economic hardship in Nigeria has proven on over time that “while the seething nectar we drink inn harms no one else but ourselves” every institution from every sector is detrimental to this scourgerous failure.
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