Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil

Dangote Refinery

Nigeria’s new Dangote mega refinery near Lagos is seeking to buy millions of barrels of US crude over the next year as it ramps up processing rates, a sign of the challenges that Africa’s largest producer faces in lifting its own oil output.

The plant, built by Africa’s richest man Aliko Dangote, issued a so-called term tender for the purchase of 2 million barrels a month of West Texas Intermediate Midland crude for 12 months starting in July, according to a document seen by Bloomberg. The tender closes on May 21.

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