Africa Business News of Thursday, 21 November 2024
Source: Webbers Choice
The Dangote Petroleum Refinery has resumed purchasing crude oil from the United States, marking a shift after a three-month break in foreign imports.
The latest shipment, scheduled for delivery next month, includes two million barrels of WTI Midland crude from Chevron.
This move follows a temporary reliance on Nigerian crude under a government deal to pay in naira, which aimed to support the local economy.
Dangote's refinery, the world's largest single-train facility, began production earlier this year, producing diesel and aviation fuel, and has now expanded to producing premium motor spirits.
The facility is set to export refined products to West African countries, potentially disrupting regional fuel markets.