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Dangote May Receive First WTI Crude Cargo in March

OIL

Nigeria’s 650k b/d Dangote refinery is set to receive its first cargo of WTI in March, according to Argus and Bloomberg ship tracking.

  • The VLCC Gem no. 1 loaded 2m bbl US crude via three STS transfers in the USGC between Feb. 6-9.
  • It loaded via STS from the Sea Urchin, SFL Thelon, and Aquatravesia. Trafigura is the exporter of record.
  • This is slightly later than market participants expected, according to Argus’ sources who said that the refinery had purchased 2m bbl of WTI from Trafigura for late-Feb delivery.
  • However, this will mark the first overseas cargo delivery to the refinery since it began receiving cargoes in Dec.
  • The refinery's motor spirit block – containing a naphtha hydrotreater, catalytic reformer and isomerisation unit — is yet to begin operations, sources told Argus.
  • Blending component offers have so far been declined as sources said it was too early for gasoline production at the site.

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