Daud Olatunji
In a bid to bolster its operations amidst local supply constraints, Dangote Petroleum Refinery has finalized arrangements to import 12 million barrels of crude oil from the United States, a statement issued by Head, Media Relations, Branding & Communication, Dangote Company, Esan Sunday reports.
PLATFORM TIMES reports that this move shows the refinery’s proactive stance to overcome hurdles in reaching its full refining capacity.
It was gathered that the $20 billion refinery, situated in Lekki, has encountered obstacles in achieving its target of 650,000 barrels per day due to inadequate local crude supply from the Nigerian National Petroleum Corporation (NNPC).
Confirming the impending delivery, an insider source informed The Africa Report, “About 12 million barrels of crude have departed the US and should arrive in Nigeria by February.”
Officials at the refinery highlighted the necessity of increasing crude imports as NNPC’s supply struggles persist, hampering fuel production at the facility.
Currently operating at 500,000 barrels per day, the refinery aims to scale up to 650,000 barrels per day by June this year.
“The NNPC is facing challenges in providing the required 350,000 barrels per day to Dangote refinery out of the allocated 450,000 barrels for local consumption,” stated industry sources.
In response to fluctuating local supply, Dangote Petroleum Refinery has initiated measures to expand its crude storage capacity.
The facility is constructing eight additional storage tanks, boosting capacity by 41.67% to 3.4 billion litres, to accommodate imported crude oil.
Devakumar Edwin, Vice President of Dangote Industries’ oil and gas division, emphasized the strategic importance of importing crude amidst uncertain local supplies.
“Importing crude from other countries ensures our operational continuity amid challenges in local sourcing,” he affirmed.
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