The Dangote Refinery has purchased at least 16 million barrels of Nigerian crude oil for delivery in October, according to four industry sources cited by Reuters.
The volume is broadly in line with the refinery’s crude purchases in recent months and is significantly above its average intake last year, as the facility continues to increase its processing activities.
The 16 million barrels comprise monthly crude allocations from the Nigerian National Petroleum Company (NNPC) as well as additional volumes secured through a tender.
The October supply translates to roughly 520,000 barrels per day, covering a substantial portion of the refinery’s 700,000-barrels-per-day installed processing capacity.
The latest purchases indicate growing demand for crude feedstock as the refinery expands its operations and works towards running at a larger percentage of its installed capacity.
The development also highlights the refinery’s increasing role in Nigeria’s domestic crude and petroleum products market as it scales up processing.
