Cameroon Becomes First Buyer of Dangote Refinery’s Petroleum Exports
Cameroon has officially become the first country to import refined petroleum from Nigeria’s Dangote refinery, taking delivery of 60,000 tonnes of product through Neptune Petroleum, a leading distributor in Central Africa. This milestone is in line with Dangote Group Chairman Alike Dangote’s plan to export 56% of the refinery’s 650,000 barrels per day output. Domestically, the refinery started selling gasoline in September, with the Nigerian National Petroleum Corporation (NNPC) as its exclusive buyer. The national oil company, which previously relied on imports for domestic fuel supplies, hopes Dangote’s operations can meet Nigeria’s fuel needs, thereby reducing foreign exchange dependence and improving local fuel supplies. However, the Dangote refinery is facing crude oil supply difficulties and is unable to operate at full capacity. NNPC supplies thousands of barrels of oil per day to refineries under a crude-for-gasoline swap agreement. But it’s not enough to meet refinery crude demand.
source: africa news
