Crude-For-Naira: Dangote Refinery Gets 395,000bpd Supply

The volume of black gold supplied to the Lagos-based facility was 40 per cent higher than the 280,000 barrels per day delivered in November.

According to a report from Argus, the crude receipts at the 650,000 barrels per day capacity Dangote refinery rose to a new high in December.

It gathered the data from its tracking systems as well as from Kpler and Vortexa data.

The report said that this was the fourth consecutive month that crude deliveries were all Nigerian and did not include any US WTI.

Deliveries of WTI had been anticipated in December, but did not materialise.

The Dangote Group said it is aiming for 350,000 barrels per day throughput in a first phase of operations.

It had achieved this mark in June as receipts hit 350,000 barrels per day but fell back after that. Since March, when crude delivery began to increase, estimated receipts have averaged a little under 275,000 barrels per day.

Recall that Dangote Refinery had bought some foreign cargoes when NNPC could not adequately supply it with the needed resources.

In July, President Bola Tinubu directed the NNPC to commence sales of crude oil in Naira to local private refiners as part of efforts to boost domestic capacity and reduce foreign exchange pressure on the economy.

Last month’s receipts included cargoes of Nigerian grades Escravos, Bonny Light, CJ Blend, Qua Iboe, and Erha.

Bonny Light was the largest single grade at 140,000 barrels per day.

It was disclosed that three deliveries on very large crude carriers (VLCC) helped boost receipts in the review month.

Argus added that no cargoes of Forcados or Amenam were delivered to Dangote last month, having previously been regular grades at the refinery.

Dangote Group is also maintaining a very consistent slate in terms of gravity and especially sulphur content.

Argus assessed Dangote’s December slate at a weighted average gravity of 36.3°API and under 0.2 per cent sulphur content, compared with 36.4°API and under 0.2 per cent sulphur in November. In March-December, the slate averaged 36.3°API and again, under 0.2 per cent sulphur.