Dangote’s $20B Refinery Taps U.S. Crude, Sparking Nigerian Output Concerns
It’s an interesting time in the world of oil, particularly in Nigeria, where the national petroleum company and the Dangote refinery— the country’s pride, with a staggering $20 billion investment and an impressive capacity of 650,000 barrels per day (bpd)— have recently shifted their sourcing strategy. In a surprising twist, they are now turning to the U.S. crude oil market. According to data from Bloomberg's ship tracking, this decision is set to take effect in 2025, marking a significant change in their operational…