Nigeria’s Dangote Oil Refinery Is Increasingly Skipping US Crude

Aug. 21, 2024, 2:57 PM UTC

Nigeria’s Dangote mega-refinery is taking more of the country’s own oil for processing, while inflows from the US appear to be waning.

The plant is set to import just over four-fifths of its feedstock from domestic sources in the third quarter, data compiled by Bloomberg show. That compares with less than three-quarters in the prior quarter, according to tanker-tracking data and information from traders.

Oil prices were pressured last month on reports that the plant planned on re-selling some of the US barrels it previously purchased, underscoring the pivotal role Dangote already plays within Atlantic basin petroleum markets. The refinery’s ...

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