Dangote Refinery has revealed its intention to completely eliminate imports from the United States and other nations, opting instead to use solely domestic crude oil. As reported by Bloomberg, Devakumar Edwin, the vice president of Dangote Industries, shared this information during an interview. He indicated that in June, the refinery procured 53% of its crude from local producers while the remaining 47% came from the US. Edwin mentioned that as the foreign supply contracts expire, local producers will have more capacity to supply the refinery. “We anticipate that some long-term contracts will come to an end. Personally, and as a company, we foresee transitioning to 100% local crude by the end of the year,” he said. To accomplish this goal, a substantial boost in local oil production is anticipated in the upcoming months. Since its launch in 2023, the Dangote facility has sourced crude from the US, Brazil, Angola, Ghana, and Equatorial Guinea. Additionally, according to crude cargo allocation details, Dangote Refinery is set to receive five cargoes from Nigeria’s state oil company in both July and August. On Tuesday, the refinery also announced a decrease in its ex-depot price of Premium Motor Spirit to N820 per liter.
