The Dangote Petroleum Refinery has solidified Nigeria’s presence in the regional energy market with the successful sales of 12 cargoes, by traders, totaling 456,000 tonnes (456KT) of refined petroleum products.
The shipments by traders, meant for countries such as Cote d’Ivoire, Cameroon, Tanzania, Ghana and Togo represent the refinery’s export of Premium Motor Spirit (PMS) since achieving 650,000 barrels a day capacity in February
The products were sold on a FOB (Free on Board) basis to the end international traders for deliveries to the above-identified countries of export, the company said in a statement on Sunday.
It explained that the accomplishment underscores the Dangote Refinery’s capability to not only meet but exceed Nigeria’s domestic fuel demands.
According to the statement,it lso demonstrates the refinery’s growing role in supplying high-quality Euro 5 gasoline and diesel to West Africa — a region long underserved and historically regarded as a dumping ground for lower-quality fuels, and other regions which have become destinations of exports.
It added:”By supplying neighbouring and other economies, the Dangote Refinery is expected to contribute to enhance energy security in West, East and Central Africa, reducing logistics and supply chain delays associated with long-distance fuel imports, lowering cost pressures on regional fuel markets through proximity sourcing and as well as building stronger trade relations between Nigeria and key African economies.”
