Nigeria’s Dangote refinery, Africa’s largest, is actively sourcing a portion of its crude oil from the United States.
A Bloomberg report said the $20 billion refinery, established by Africa’s richest man, Aliko Dangote, has issued a term tender to buy two million barrels per month.
The tender for overseas oil—from a refinery that’s situated in Africa’s largest producer nation—highlights how significant the plant will be in global crude and fuel trading. It will be the largest refinery facility in Africa when fully up and running.
According to the report, the tender closes at 3 p.m. on May 21. The tender shows how Nigerian crudes are struggling to compete against American supply, one trader of West African barrels said.
Currently under construction in the Lekki Free Zone near Lagos, Nigeria, the refinery is a 650,000 barrels per day (BPD) integrated project. It is set to become Africa’s largest oil refinery and the world’s largest single-train facility.
