Cameroon Becomes First Buyer of Dangote Refinery’s Petroleum Exports

Cameroon is officially the first importer of refined petroleum from the Nigeria-based Dangote Refinery, receiving 60,000 tons of the product through Neptune Oil, a leading distributor in Central Africa. This milestone aligns with the plans of Alike Dangote, the chairman of Dangote Group, to export 56% of the refinery’s 650,000 barrels-per-day production. Domestically, the refinery began selling gasoline in September, with the Nigerian National Petroleum Company (NNPC) as its exclusive buyer. The NNPC, previously reliant on imports for domestic fuel supply, hopes Dangote’s operations will fulfill Nigeria’s fuel needs, thereby reducing forex dependency and improving local fuel availability. However, Dangote Refinery has faced crude supply difficulties, preventing it from operating at full capacity. The NNPC, under a crude-for-gasoline swap agreement, supplies the refinery with thousands of barrels per day. However, it is not enough to meet the refinery’s crude requirement.

SOURCE: AFRICA NEWS