The largest single-train refinery in the world, Dangote Refinery, is set to ship its first Premium Motor Spirit (PMS) cargo out of the African region with a vessel heading for Asia, a source with knowledge of the plans told Reuters on Wednesday.
The cargo of 90,000 metric tons (about 90 million litres) of petrol is set to be loaded by major oil trader, Mercuria, this weekend, according to the source.
The refinery, which began operations in 2024, has so far exported petrol only to the West African region.
“We sell our products to those who are willing to give us the highest price. It’s the buyer’s right to take the products to any destination of their choice”, a spokesperson for the Dangote refinery told Reuters.
The 650,000-barrels-per-day refinery has been buying increasing volumes of U.S. crude WTI in recent months, for both logistical and technical reasons.
According to a senior refinery analyst at Energy Aspects, Randy Hurburun, WTI has become refiners choice because it offers higher yields of reformate and has better gasoline blending capabilities.
Dangote began fuel production in 2024. The refinery started up in January last year with the launch of diesel and naphtha production and began producing petrol in September.
Owned by Africa’s richest person, Aliko Dangote, the refinery has a total processing capacity of 650,000 bpd, which makes it Africa’s biggest and one of the world’s largest crude processing sites.
The refinery is expected to meet 100% of Nigeria’s demand for all refined petroleum products and will also have a surplus of each of the products for export.
Dangote will also export polypropylene to the global markets under an exclusive partnership with petrochemicals distributor Vinmar International.
Meanwhile, Nigeria’s premium oil grade, Bonny Light, breached the $80 ceiling on Wednesday as the war between Israel and Iran rages.
As of 3.32pm on Wednesday, the nation’s premium grade was traded at $80.32, $5.32 above the Federal Government’s 2025 budget benchmark of $75.
Likewise, Brent crude oil stood at $77.32, while West Texas Intermediate (WTI) traded at $75.86.
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