A tanker has transported petrol from Nigeria’s new Dangote plant to waters off Togo, an indication to merchants that the mega-refinery’s operations may quickly probably shake up regional gas markets.
The CL Jane Austen just lately loaded greater than 300,000 barrels from Dangote and sailed west, in response to knowledge from Vortexa, Kpler, Exact Intelligence, a port report, and ship-tracking knowledge compiled by Bloomberg.
It’s now floating off the coast of Lome, a well-liked space for ship-to-ship transfers.
Whereas the cargo is tiny within the context of the worldwide gas market, it alerts the ramp-up of Dangote’s manufacturing and the potential to export important volumes of petrol past Nigeria, which may upend regional markets.
The refinery final month shipped its first seaborne petrol cargo to the close by industrial hub of Lagos.
Whether or not massive quantities of Dangote’s petrol output find yourself being exported stays to be seen.
Final month, Nigeria ended its state-owned oil firm’s monopoly on shopping for gas from the plant for home use. In the meantime, the nation continues to import gas from Europe and the US.
It’s additionally not sure the place the CL Jane Austen’s cargo will finally find yourself. Though it’s off Togo, the realm is commonly used for STS transfers, which means the gas may subsequently be taken elsewhere.
Dangote eyes different African international locations
Based on latest stories, about eight African international locations together with Ghana, Benin Republic, Togo and South Africa are more likely to buy petroleum merchandise from the 650,000 bdp refinery.
- Earlier final month, Nairametrics reported that Ghana’s chief oil regulator, Mustapha Abdul-Hamid, mentioned the nation is contemplating the importation of petrol from Dangote as a part of its efforts to curb importation in addition to scale back stress on its overseas alternate market.
- He defined that importing from Nigeria would assist decrease the costs of products and providers by slicing freight prices.
“If the refinery reaches 650,000 bpd a day capability, all that quantity can’t be consumed by Nigeria alone, so as an alternative of us importing as we do proper now from Rotterdam, will probably be a lot simpler for us to import from Nigeria and I imagine that may deliver down our costs,” Hamid mentioned.
What it is best to know
Africa’s wealthiest particular person, Aliko Dangote, accomplished the Dangote Refinery with an funding of $20 billion.
- With a processing capability of 650,000 barrels per day, the refinery is ready to turn out to be the biggest in each Africa and Europe as soon as it achieves full operational standing, anticipated both this yr or the following. The ability is poised to drastically scale back Nigeria’s reliance on imported petroleum merchandise.
- Regardless of being Africa’s most populous nation and its main oil producer, Nigeria paradoxically imports almost all of its gas.
- That is largely as a consequence of insufficient refining infrastructure a spot the Dangote Refinery is designed to handle.
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