Nigeria’s giant new refinery in Lagos is to import a cargo of Brazilian crude, adding to the large number of overseas barrels that Africa’s biggest oil-producing nation is taking.
The Dangote refinery, which is still in the process of ramping up to full capacity, is to receive a 1 million barrel cargo of Brazil’s Tupi crude for delivery in the second half of next month, traders with knowledge of the matter said.
The refinery, billed as pivotal in ending Nigeria’s dependence on foreign fuel, has already snapped up millions of barrels of American crude. The purchases of non-Nigerian barrels likely reflect the most competitively priced, suitable cargoes.
The cargo was sold by Petrobras, the traders said. Officials at the company, and one at Dangote, didn’t immediately respond to requests for comment.
It’s the first time that Brazil has exported oil to Nigeria, according to data from the Latin American country’s commerce ministry.
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