NewStats: 3,259,773 , 8,170,879 topics. Date: Monday, 26 May 2025 at 12:02 AM 29731c

The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil.

OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery among the top Diesel and jet Fuel suppliers that will disrupt Europe’s oil & gas Industry, a development experts forecasted will positively impact the Nigerian economy.

Recall that Standard & Poor Global quoting trading and the ship tracking sources had earlier predicted that Nigeria’s $20 billion Dangote refinery would shake up international crude flows when it reaches full capacity, having already made an impact since coming online in January, trading sources and ship tracking data show.

The OPEC report revealed that “Upside potential for higher production levels from Nigeria’s Dangote refinery, coupled with strong flows from the Middle East and new supplies from the Mexican Olmeca refinery, will likely exert pressure on NWE gasoil performance in the mid-term.”

It stated further “Europe is one of the world’s largest purchasers of refined petroleum products and relied on imports from Asia and the US after the European Union banned the use of Russian diesel in the bloc.

However, the 650,000bpd capacity refinery which is owned by the Africa’s richest man, Aliko Dangote, is eyeing the wider European market after International Oil Companies stopped supplying its crude oil.

Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin announced the company had earlier exported its first jet fuel cargo to Europe as it rapidly scales production.

The refinery is said to have exported 90 percent of its 3.5 billion litres of jet fuel and diesel to Europe over alleged lack of from the Nigerian government.


“It is good to note that from the start of production, more than 3.5 billion litres, which represents 90 percent of our production, have been exported,” Edwin said

BP is currently transporting its first jet fuel cargo to Rotterdam from Dangote, after being awarded part of a 120,000 metric tonnes tender offered for the end of May, according to S&P Global.

OPEC stated that, “In June, the jet/kerosene crack spread in Rotterdam against Brent showed a slight decline, influenced by supply-side dynamics. Despite signs of improving air travel activities, subdued jet fuel demand from the aviation sector weighed on the product market

“Going forward, European jet/kerosene demand is expected to see upward pressure as consumption levels from the aviation sector continue to pick up in the coming months.”

S&P had noted that Dangote Refinery in its first six months, scaled to 400,000 b/d and delivered diesel, jet fuel, naphtha, and fuel oil to both domestic and export markets, with Gasoline, Nigeria’s primary fuel type, being expected to be produced from mid-August

Notwithstanding, the refinery has already affected crude flows, with dozens of Nigerian cargoes remaining in-country and US WTI Midland, a comparable light, sweet grade, being imported

The mega-refinery could therefore tighten the light, sweet crude market. “Its diet is WTI and the lighter Nigerian [crudes] so if you were chasing those barrels you’d probably feel it quite keenly,” a West African crude trader told Commodity Insights. “Once they get to 650,000 b/d without any WTI Midland, ‘severely disrupted’ [will be] the headline.”

WTI Midland crude initially emerged as the favored feedstock to supplement Nigerian supply, with the refinery g long-term supply contracts for the US grade and noting its competitive pricing. Platyts, part of Commodity Insights, last assessed WTI Midland into Rotterdam at $82.36/b on July 31, while Nigeria’s Bonny Light was assessed at $82.80/b on the same day.

Crude flows in and out of the Dangote refinery have been felt in other markets, especially in Europe, the largest consumer of light, sweet Nigerian crude. The US grade has ed for 30% of crude delivered to Dangote, through 18 cargoes

President of Dangote Group, Aliko Dangote, said the facility would broaden its feedstock sources with Libyan, Angolan, and Brazilian crude.

“The refinery was built to use Nigerian crude and add value to it within Nigeria. Why should we deviate from that focus?” said Dangote, adding that the crude supply issues were “getting resolved”, but that the refinery remained open to all opportunities “to supplement it”.

“Dangote refinery is designed to process a range of light and medium grades of crude oil, including Nigerian grades,” said Rasool Barouni, Associate Director and head of Refining at S&P Global Commodity Insights. “Other similar grades including other WAF grades could be an option.”

Nigeria is sub-Saharan Africa’s largest oil producer, pumping 1.5 million b/d in June, according to the Platts OPEC Survey from S&P Global Commodity Insights.

Source: https://dailytrust.com/$20bn-Dangote-Refinery-will-disrupt-Europe’s-oil&gas-industry-OPEC

Okay

And Dangote that knows how to get monopoly to any industry he likes on Nigeria suddenly can not negotiate n get crude oil from same Nigeria to his refinery ?!

adenigga:
Source: https://dailytrust.com/$20bn-Dangote-Refinery-will-disrupt-Europe’s-oil&gas-industry-OPEC

Correct source please!

adenigga:
↪ The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil.
OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery among the top Diesel and jet Fuel suppliers that will disrupt Europe’s oil & gas Industry, a development experts forecasted will positively impact the Nigerian economy.
Recall that Standard & Poor Global quoting trading and the ship tracking sources had earlier predicted that Nigeria’s $20 billion Dangote refinery would shake up international crude flows when it reaches full capacity, having already made an impact since coming online in January, trading sources and ship tracking data show.
[b]The OPEC report revealed that “Upside potential for higher production levels from Nigeria’s Dangote refinery, coupled with strong flows from the Middle East and new supplies from the Mexican Olmeca refinery, will likely exert pressure on NWE gasoil performance in the mid-term.”
It stated further “Europe is one of the world’s largest purchasers of refined petroleum products and relied on imports from Asia and the US after the European Union banned the use of Russian diesel in the bloc.

What Nigerian Media says and what OPEC in fact said.

This is a game changer for Nigeria! Dangote's refinery is not just boosting our economy but also shaking up the global oil market. With 90% of production exported, it's clear that this mega project is putting Nigeria on the map. We need to Dangote; his success means more jobs and growth for all of us!

okoo

Kobojunkieee:
Correct source please!

https://dailytrust.com

Dangote is truly making waves! This $20 billion investment is not just a refinery; it's a game changer for Nigeria and a serious contender in the global market. The potential to disrupt Europe’s oil industry is impressive. Can’t wait to see how this boosts our economy and creates jobs! Let's keep ing local initiatives like this.

And Tinubu’s govt is planning to kill it for their own selfish gains

On May 29, 2023, during his inauguration, President Bola Tinubu publicly declared that “subsidy is gone,” signaling the end of barriers that had been restricting the nation’s economic growth.

However, this claim has been contested by the International Monetary Fund, the World Bank, and other authoritative figures, who argue that the government had quietly reintroduced fuel subsidies.

Dangote can surely change things if government really want to

“The refinery was built to use Nigerian crude and add value to it within Nigeria. Why should we deviate from that focus?” 

Both the FG and Dangote are not coming clean with this refinery issue. Dangote wants to be monopolistic about the Nigerian downstream Petroleum industry while the FG wants the subsidy corruption cabal to continue to hold the Fort. What a country.

I need the shares NNPC is dropping ASAP, not the GTCO they have been flaunting on my face.

Kobojunkieee:
What Nigerian Media says and what OPEC in fact said.

people don't know that Nigerian press is behind Nigeria problem, they create and sustain it

This is the kind of bold move we need in Nigeria!

Dangote is setting the pace and shaking things up globally. This is just the beginning; Europe better watch out!

Yankee101:
And Tinubu’s govt is planning to kill it for their own selfish gains

Tinubu is working for IMF and World Bank to keep Nigeria perpetually dependent on those multilateral organizations. If Europe feels threatened, the Refinery will be killed. We need good leaders, not a hypocrite and tribal bigot.

Dangote really faced wars before getting this refinery to completion.

What a fight. What a man.


I'd rather listen to Dangote a million times than listen to any Nigerian president or leader.

I pray for him from my heart. May God continue to bless and protect him.

OAFMods:
And Dangote that knows how to get monopoly to any industry he likes on Nigeria suddenly can not negotiate n get crude oil from same Nigeria to his refinery ?!

Monopoly this, monopoly that...

Hogwash!

Which business did you intend to go into and Dangote stopped you with his "monopoly"?

This is what progress looks like! While some are busy hating, Dangote is making waves that even Europe can’t ignore. Let the bitter ones keep talking, we know greatness when we see it!

BALLOSKI:
Monopoly this, monopoly that...

Hogwash!

Which business did you intend to go into and Dangote stopped you with his "monopoly"?

Don't mind them they were deceived by government propaganda

Every day this uncompleted building is making headline for the wrong reasons. Too much talk

Yankee101:
And Tinubu’s govt is planning to kill it for their own selfish gains

He has to be careful, killing the prospect of that refinery can lead to so many things, Dangote wouldn't sit and watch while you destroy his investments because of your greed, Tinubu should work to get our refineries working that should have been one of the demands of the protest not subsidy.

It should put pressure on NNPC first.

.

Of course, but will the imperialists and their puppets/saboteurs allow it?

I now understand

God bless Dangote
God bless Nigeria

And the nigerian government is going everything in their power to fustrate dangote.

Isn't that suppose to be a good thing? Is Opec indirectly against the disruption or is it in of the refinery?

Nigerian government that should be fighting tooth and nail for the success and progress of the refinery because of the massive economic impact and benefit is busy fighting Dangote for their selfish interest.

Loud