Dangote Refinery Issues Tender to Sell 128,000 metric tons of residual fuel oil

Dangote Refinery has issued a tender to sell 128,000 metric tons of residual fuel oil according to a market document sighted by news sources. This is coming after the refinery recently suspended sales of petrol in Naira.

According to a report by Reuters, the Dangote refinery will close the tender on Wednesday at 1200 GMT, as it seeks buyers for 88,000 tons of low sulphur straight-run fuel oil and 40,000 tons of slurry oil for loading on April 10-12.

The refinery is also expected to shut its 204,000 barrel-per-day gasoline-making unit for 30 days for maintenance tentatively expected to start on June 1 as the refinery seeks new ways to survive following the expiration of its crude for naira contract with the NNPC.

Dangote Refinery Intensifying Exports

Following challenges encountered in its Nigerian business operations, the refinery has been intensifying efforts to export more of its products, especially to the US with Six vessels carrying about 1.7 million barrels of jet fuel from the Dangote refinery arriving at U.S. ports this month, according to data from ship-tracking service Kpler.

According to the same report, another vessel, Hafnia Andromeda, is set to arrive at the Everglades terminal on March 29 with a load of about 348,000 barrels of jet fuel with the refinery being a major contributor to the influx of jet fuel to the U.S. market and also competing with European refiners on gasoline exports.