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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
REFINING
Since Nigeria’s Dangote refinery’s start-up, its crude imports have exclusively been sweet crude, mainly light, sourced domestically from Nigeria, with 75% of cargoes from ports loading Bonny, Forcados, Agbami, and Odudu, and the remaining 25% has been WTI loaded from PADD 3 according to Vortexa.
- Nigeria has imported ~230kbd of gasoline from Europe in the first half of this year, likely to move lower during the second half of the year as Dangote units ramp up.
- In the Atlantic Basin, gasoline oversupply looks to remain a key theme. Mexico is aiming for higher runs, something it was achieving until May but will keep pushing to achieve, albeit at a later date. Meanwhile, the US summer driving season has been seasonally slow along with Europe which will likely leave the Atlantic Basin oversupplied as they fade into late summer.
Source: Vortexa
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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