Dangote Refinery ramps up fuel exports as crude shortages, forex squeeze bite
Checks by Vanguard showed that crude oil supply to the refinery under the Federal Government’s naira-for-crude arrangement has declined sharply, compelling the refinery to source a larger share of its feedstock from the international market.
This comes as rising global crude oil prices are expected to increase feedstock costs for the 650,000-barrels-per-day refinery, although stronger prices for refined petroleum products are providing some support for refining margins.
By UdemeAkpan, Energy Editor The Dangote Petroleum Refinery has significantly increased exports of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange constraints continue to hamper its operations.
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