Sign up: register@panafrican.email

Nigeria’s Dangote refinery in talks with Libya to secure oil

Nigeria’s Dangote refinery is in talks with Libya to secure crude for the 650,000 barrels per day (bpd) plant and will also seek Angolan oil, a senior executive said, as it seeks to overcome problems with domestic supplies.

The $20 billion refinery, built by Africa’s richest man Aliko Dangote on the outskirts of Lagos is Africa’s largest, and is designed to end Nigeria’s dependence on imported fuels because of insufficient refining capacity.

Since Dangote began operations in January, it has been unable to get adequate crude supplies in Nigeria, which, although Africa’s biggest oil producer, is struggling with theft, pipeline vandalism and low investment.

Dangote has resorted to importing crude from as far as Brazil and the United States.

“We are talking to Libya about importing crude,” Dangote refinery senior executive Devakumar Edwin told Reuters late on Saturday. “We will talk to Angola as well and some other countries in Africa.”

Leave a Reply

Your email address will not be published. Required fields are marked *