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Nigeria’s Dangote Refinery Sets New ULSD and Gasoline Dates

OIL PRODUCTS

Nigeria’s 650k b/d Dangote refinery will start production of 10ppm ULSD in the week commencing June 17, refinery head Aliko Dangote told Nigeria's Channels Television, cited by Argus.

  • Gasoline production will follow as early as July 10, Dangote added.
  • The updated timeline suggested a slight delay from previous guidance
  • Until now, Dangote has been producing 680-700ppm gasoil for supply to local and international markets.
  • Gasoil loadings of at least 20k mt FOB Dangote were offered at discounts of around $30-$35/mt versed ICE gasoil futures front month, Argus said. This compares to a $1/mt discount in European markets for a 30k mt FOB cargo.
  • The heavier discounts reflect stricter pricing terms, such as upfront payment in lieu of a letter of credit, along with payment in USD and not in local naira.
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