MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

REFINING: Dangote Significantly Reduced Crude Imports in August

REFINING
BulletEnergy BulletsCommodities

Nigeria's Dangote refinery significantly reduced its crude imports in August to 168 kbd - half of July’s level according to Kpler, something it said pointed towards supply issues. 

  • At 4.1 Mbbl, the refinery’s feedstock inventory hit the lowest level since the plant began operations.
  • Dangote has started processing gasoline, but Kpler does not anticipate Euro-spec output before Q4. Dangote is expected to swap gasoline for crude with Nigeria’s NOC NNPC. The potential resolution of the situation in Libya facilitates this swap deal as it weighs on Nigerian crude differentials.

 

Keep reading...Show less
90 words

To read the full story

Close

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.

Nigeria's Dangote refinery significantly reduced its crude imports in August to 168 kbd - half of July’s level according to Kpler, something it said pointed towards supply issues. 

  • At 4.1 Mbbl, the refinery’s feedstock inventory hit the lowest level since the plant began operations.
  • Dangote has started processing gasoline, but Kpler does not anticipate Euro-spec output before Q4. Dangote is expected to swap gasoline for crude with Nigeria’s NOC NNPC. The potential resolution of the situation in Libya facilitates this swap deal as it weighs on Nigerian crude differentials.

 

Keep reading...Show less