WATCH THE VIDEO HERE Dangote refinery is buying feedstock from across the world to add to its domestic deliveries as it looks to meet its full capacity target by end of the month. According to a Bloomberg report, the 650,000 barrels per day capacity refinery has received delivery of more than three million barrels of American crude since the start of March 2025. The refinery has also made purchases from former and present colleagues in the Organisation of the Petroleum Exporting Countries (OPEC), Angola and Algeria, respectively. From Angola, the company has imported a shipment of Pazflor grade and a cargo of Algeria’s Saharan Blend from Glencore Plc in recent weeks. According to the most recently update, the refinery is operating around 85 per cent but it has been boosting processing rates since it started up early last year. Even as foreign purchases are increasing, Bloomberg reported that the mega refinery runs mostly on local feedstock, as it took in more than ten million barrels of Nigerian crude last month alone. The Lagos-based oil facility had received about 24 million barrels of Nigerian supply in October and November last year. In February, Mr Edwin Devakumar, vice-president of Dangote Industries Limited (DIL), said the refinery could begin operating at full capacity in 30 days. The major shareholder in the structure and chairman, Mr Aliko Dangote assured Nigerians that his refinery has over N600 billion worth of premium motor spirit (PMS) in storage that can sufficiently meet Nigeria’s needs. The buying spree comes as the Naira-for-crude deal with the Dangote Refinery and other local refineries was reportedly suspended by the Nigeria National Petroleum Company (NNPC) Limited. However, following the report, the Nigerian government said it was in talks with Dangote to extend a contract to sell it crude in the local currency with the NNPC saying it has supplied 48 million barrels since the agreement started in October 2024.
Dangote Buys Crude Oil from US, Angola, Algeria to Ramp Up Production
