TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

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

Second WTI Cargo Heading for Dangote: Argus

OIL

A second cargo of WTI is headed to Nigeria’s 650k b/d Dangote refinery and set to discharge March 13, Argus said.

  • The Suezmax Otis loaded a cargo of WTI from Enterprise Houston, Texas, Feb. 18, according to Kpler. The tanker was chartered by Vitol.
  • A source told Argus that Dangote could be trying different crude grades to see which work best and are most competitive in the market.
  • Dangote’s first WTI crude cargo was on a VLCC the Gem No. 1 which arrived from the Port of Lekki, carrying 2m bbl of WTI.
  • The move by Dangote to buy crude on the international market may frustrate NNPC, with whom the plant has a supply agreement. This could increase competition with domestic grades.
  • NNPC may need to factor in the cost of WTI on a delivered Nigeria basis when setting its monthly pricing formulas, Argus said.
Energy BulletsCommodities
Energy BulletsCommodities

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.