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Crude Supply

All articles tagged with #crude supply

business1 year ago

Dangote's Strategic Moves to Enhance Nigerian Fuel Supply

Aliko Dangote is seeking billions in funding to boost crude supplies for his $20 billion oil refinery near Lagos, aiming to reach its full capacity of 650,000 barrels per day. The refinery, which has started producing some refined products, is seen as a potential game changer for Nigeria, reducing its reliance on imported fuel. However, challenges include securing a steady crude supply and concerns over Nigeria's currency devaluation. Dangote is in talks with various financial entities and the Nigerian government to address these issues.

via Financial Times|
#business#crude-supply#dangote
business2 years ago

Dangote Refinery Commissioned in Nigeria Despite Crude Supply Concerns

Nigeria's Dangote Petroleum Refinery, one of the country's single largest investments, will be commissioned on Monday, but a lack of crude supply poses a major risk to it achieving full production. Despite being Africa's biggest oil producer, Nigeria imports petrol, diesel and processed petroleum products because its refineries were run down over the years. The refinery needs a constant supply of crude but Nigeria's oil production has been declining due to oil theft, vandalism of pipelines and underinvestment.

via Reuters|
#business#crude-supply#dangote-petroleum-refinery
energy2 years ago

Saudi Arabia Continues Oil Supply to Asia Despite OPEC+ Cuts, Boosting Bourse Gains.

Despite its pledge to cut output by 500,000 barrels per day, Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers. The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, announced an extra output cut of 1.16 million barrels per day from May for the rest of the year. The move caused Brent and U.S. West Texas Intermediate crude futures to jump 6% last week, returning to levels last seen in November.

via Reuters|
#asian-refiners#crude-supply#energy