Dangote Petroleum Refinery has been scheduled to import a shipment of Brazilian crude oil.
The Punch Headlines gathered that this import contributes to the substantial volume of overseas crude feedstock Nigeria is currently importing.
According to informed traders, the Dangote refinery, which is still in the process of ramping up to full capacity, will receive a shipment of one million barrels of Tupi crude from Brazil in the latter half of next month.
“The refinery, considered crucial for ending Nigeria’s reliance on foreign fuel, has already acquired millions of barrels of American crude,” the publication reported.
“The selection of non-Nigerian crude likely reflects the most competitively priced and suitable options available.”
The traders indicated that the cargo was sold by Petrobras, the state-owned Brazilian multinational corporation.
The officials from both companies did not immediately respond to requests for comment.
Citing data from Brazil’s commerce ministry, the publication stated that this marks the first time Brazil has exported oil to Nigeria.
On July 11, the Dangote refinery purchased five million barrels of US crude, scheduled for delivery next month and in September.
In May, the refinery planned to purchase 24 million barrels of US crude over the course of a year.
