The Dangote Petrochemical Refinery is set to import no less than five million barrels of U.S. West Texas Intermediate (WTI) crude oil throughout July, marking a continuation of its aggressive feedstock acquisition strategy.
According to a report by Reuters, the refinery has finalised tenders for approximately 161,000 barrels per day of WTI crude to be shipped next month. The overall volume could rise further if additional deals are secured in the coming weeks.
This development comes on the heels of a record-setting procurement in June, when the refinery reportedly booked around 300,000 barrels per day—its highest monthly intake of U.S. crude to date.
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“The refinery is expected to bring in at least five million barrels of WTI in July, based on current tender awards,” Reuters quoted sources familiar with the matter as saying. The $19 billion, 650,000 bpd-capacity facility, located in Lagos, continues to ramp up operations as it prepares to play a transformative role in Nigeria’s energy sector.
Industry analysts view this surge in U.S. crude imports as a strategic move by Dangote to stabilise production and meet near-term refining needs as local crude sourcing challenges persist.
