Africa’s largest oil refinery, the Dangote Refinery, has taken a significant step forward in its operations by initiating tenders to sell its inaugural fuel cargoes for export. This development marks a pivotal moment for the recently commissioned facility and has garnered considerable attention within the industry.
Sources familiar with the matter revealed to Reuters that the first cargo comprises 65,000 metric tons of low-sulphur straight-run fuel oil, with Trafigura securing the contract. The cargo is slated for loading by the end of February, signifying the refinery’s entry into the global fuel market.
Additionally, the refinery has issued a tender for approximately 60,000 tons of naphtha, according to three separate sources. With the tender closing on February 15, the move underscores Dangote’s strategic positioning in the international petroleum market.
This development comes on the heels of recent reports indicating that the refinery, situated on the outskirts of Lagos, is gearing up to supply its first fuel cargoes to the domestic market in the coming weeks.
In a report by Ratecaptain on January 16, 2024, it was disclosed that seven major oil marketers in Nigeria had registered with Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products from the $20 billion plant.
Members of the Major Oil Marketers Association of Nigeria (now MEMAN) confirmed their registration with the Dangote refinery, expressing readiness to commence product distribution pending finalization of commercial terms.
Similarly, the Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed engagements with the refinery’s management to iron out product loading terms, highlighting the anticipation within the local oil industry for Dangote’s contributions to the fuel supply chain.
PETROAN (Petroleum Products Retail Outlets Owners Association of Nigeria) also affirmed ongoing discussions with Dangote Refinery’s management for potential product supplies from the facility, underlining the widespread interest and collaboration in the sector.
Among the seven major marketers registered with Dangote Refinery are 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail, collectively reflecting the diverse participation in Nigeria’s petroleum distribution landscape.