The Dangote Petroleum Refinery has initiated an export bid by tendering two fuel cargoes destined for the overseas market.
This development marks a pivotal step for the newly commissioned refinery, which has been eagerly anticipated by Nigerians since its inauguration in May last year by former President Muhammadu Buhari.
The refinery’s decision to venture into international trade comes amidst lingering regulatory approvals that have delayed the release of aviation fuel (Jet A1) and diesel for sale in the local Nigerian market.
Despite facing hurdles in obtaining necessary regulatory clearances, the refinery has taken proactive steps to explore global opportunities for its products.
The first cargo, comprising 65,000 metric tonnes of low-sulphur straight run fuel oil, has been awarded to Trafigura and is scheduled for loading by the end of February.
Meanwhile, the second tender, involving approximately 60,000 tonnes of naphtha, is set to close on February 15.
While Trafigura declined to comment on the matter, indications suggest that other refiners have also been approached regarding the cargo.
Sources familiar with the matter revealed that preparations are underway for the refinery’s first fuel cargoes to be delivered to the domestic market in the coming weeks.
These cargoes represent typical products derived from processing light sweet crude through a crude distillation unit, reflecting the refinery’s initial operational capacity.
The move to explore international markets underscores the Dangote Refinery’s ambition to become a key player in the global energy trade landscape, transitioning Nigeria from a fuel importer to a net exporter and reshaping dynamics within the industry.
