Cameroon Becomes First Importer of Dangote’s Petrol

Vodina Sam, 1 month ago 0 1 min read 171

Cameroon has become the first foreign buyer of petroleum from the Dangote refinery.

The first 60,000 tonnes of refined petroleum were exported to Neptune Oil, Central Africa’s largest distributor and retailer.

The company stated that it was collaborating with the refiner to create ‘a reliable supply chain that would assist in stabilising fuel costs and opportunities’ throughout the region.

Aliko Dangote aims to export 56% of his entire fuel production, even as crude supply concerns threaten to bog down the refinery’s operations.

The 650,000 barrel-per-day refinery began selling petrol domestically in September, with Nigeria’s state-owned oil firm as the sole buyer

The Nigerian National Petroleum Company (NNPC) has relied largely on imports for domestic petrol supplies, but Dangote’s efforts are expected to reduce this dependence and save the government valuable cash.

Dangote and the NNPC initiated a crude-for-gasoline exchange agreement in October, with Naira as the settlement currency.

Tags #Aliko Dangote #Cameroon #Dangote #Dangote Refinery #Oil Refinery