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Nigeria’s Dangote Buys Brazilian Crude

OIL

Nigeria’s 650k b/d Dangote refinery is to import a cargo of Brazilian crude, adding to the large number of overseas barrels it is taking, Bloomberg said.

  • Dangote will receive 1m bbl of cargo of Brazil’s Tupi crude for delivery in H2 August.
  • The cargo was sold by Petrobras, traders told Bloomberg and it marks the first sales of Brazilian crude to Nigeria.
  • The purchase of Brazilian crude highlights that crude grades from the Americas, including WTI, remain competitively priced for the refinery, allowing it to snap up imports.

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