6 days ago
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Dangote Refinery has revealed that most of its crude oil are imported from as far as Brazil.
The company also revealed that most of its refined products are being exported simply because the importers are practically refusing to buy from them.
The Vice President of Dangote Industries Limited, Devakumar Edwin, said this on Thursday during a Twitter Spaces session organized by Nairametrics.
“We’re importing most of our crude oil from as far as US and Brazil, and we’re exporting almost all of our production, including our diesel and jet fuel,” he said.
“The importers are practically refusing to buy from us. ”
He further stated that Dangote Refinery is facing challenges in selling approximately 29 tankers of diesel daily, primarily due to reduced demand from oil marketers.
He said that oil marketers currently acquire just three percent of the products from Dangote Refinery, as they are opting out.
He said, “As a result of this poor local patronage, the refinery exports most of its diesel and aviation fuel.”
Edwin previously stated that if the Nigerian National Petroleum Company Limited, NNPCL, and other oil distributors in the country do not support Dangote Refinery, its products would be marketed for export instead.
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