{"id":925,"date":"2024-07-14T04:17:32","date_gmt":"2024-07-14T04:17:32","guid":{"rendered":"https:\/\/panoramanews.com.ng\/?p=925"},"modified":"2024-07-14T04:17:32","modified_gmt":"2024-07-14T04:17:32","slug":"dangote-refinery-to-import-crude-from-brazil-report","status":"publish","type":"post","link":"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/14\/dangote-refinery-to-import-crude-from-brazil-report\/","title":{"rendered":"Dangote refinery to import crude from Brazil \u2013 Report"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-926\" src=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/Dangote-768x432-1-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/Dangote-768x432-1-300x169.jpg 300w, https:\/\/panoramanews.com.ng\/wp-content\/uploads\/2024\/07\/Dangote-768x432-1.jpg 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Dangote<\/p>\n<p>Kindly share this story:<\/p>\n<p><span style=\"font-weight: 400;\">Dangote Petroleum Refinery is set to import a cargo of Brazilian crude, Bloomberg reported on Friday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It said this would add to the large number of overseas barrels of crude feedstock that the Nigerian firm was importing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Indigenous crude oil refiners, including Dangote refinery and modular refineries, as well as local crude producers have repeatedly raised concerns about the low crude oil output from Nigeria.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although the government, through the Nigerian Upstream Petroleum Regulatory Commission, has been making efforts to tackle this, oil production from Nigeria has remained low.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This has made it tough for local refiners to get crude, as bulk of the oil produced in-country are exported due to earlier arranged contracts with International Oil Companies operating in Nigeria and the Nigerian National Petroleum Company Limited.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bloomberg reported on Friday that traders with knowledge of the matter stated that Dangote refinery, which is still ramping up to full capacity, would receive a shipment of one million barrels of Tupi crude from Brazil for delivery in the second half of next month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe refinery, billed as pivotal in ending Nigeria\u2019s dependence on foreign fuel, has already snapped up millions of barrels of American crude,\u201d the report by the media organisation stated.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It stated that the purchases of non-Nigerian barrels likely reflect the most competitively priced, suitable cargoes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The traders said the cargo was sold by Petrobras, a state-owned Brazilian multinational corporation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bloomberg said officials at the company, and one at Dangote, did not immediately respond to requests for comment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quoting data from the Latin American country\u2019s commerce ministry, the publication said it was the first time that Brazil had exported oil to Nigeria.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dangote refinery recently purchased five million barrels of US crude scheduled for delivery next month and in September.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It was reported in May this year that the refinery planned a purchase of 24 million barrels of crude from the US for over a year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Modular refiners had also stated that crude importation would linger until Nigeria produces enough barrels to meet both domestic demand and exports. Punch<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dangote Kindly share this story: Dangote Petroleum Refinery is set to import a cargo of Brazilian crude, Bloomberg reported on&hellip;<\/p>\n","protected":false},"author":1,"featured_media":926,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[127,128],"class_list":["post-925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-aliko-dangote","tag-dangote-refinery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dangote refinery to import crude from Brazil \u2013 Report - Panorama News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panoramanews.com.ng\/index.php\/2024\/07\/14\/dangote-refinery-to-import-crude-from-brazil-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote refinery to import crude from Brazil \u2013 Report - 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