Crude

Nigeria and India's Shifting Oil Dynamics: A Tale of New Alliances As the sun dips below the horizon, brushing the sky with hues of orange and purple, a seismic shift is quietly taking place in the global oil market. Nigeria, a country long known for its abundant oil reserves, is preparing to send not just barrels, but an invitation for change to partners on the other side of the world. Come September 2025, a staggering two million barrels of Nigerian oil are set to find their way to India—a relationship fueled by…

In a significant shift within the global oil market, the United States has recently found itself in a unique position - exporting more crude oil to Nigeria than it imported during February and March of 2024. This revelation, highlighted by the U.S. Energy Information Administration (EIA), marks a pivotal moment in trade dynamics that hasn’t been seen before. Interesting, isn’t it? How a series of events can lead to such a reversal in the balance of trade. This transition was primarily spurred by a notable…

In the ever-evolving landscape of Nigeria's oil and gas sector, significant changes are underway. The government's initiatives aim to reduce its influence over the private sector, thus paving the way for a more competitive and liberalized market structure. This transition could potentially reshape the dynamics of oil supply and demand within the country and beyond. Recently, Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), shared insights during an…

Dangote Refinery's Future: A Turning Point for Nigeria By the close of 2025, the Dangote refinery, a titan in Africa’s energy landscape, will pivot entirely to using Nigerian crude oil, as articulated by Devakumar Edwin, the Vice President of Dangote Industries. This journey toward self-sufficiency represents not merely a strategy for the refinery but a potential renaissance for Nigeria's oil sector. This ambitious refinery, boasting a capacity of 650,000 barrels per day, is owned…

Setting the Stage: Ethiopia’s New Chapter in Oil Exports Ethiopia has taken a significant stride forward in its economic development by joining the ranks of Africa's oil-exporting nations. This pivotal moment places Ethiopia alongside established producers like Nigeria, Angola, Algeria, and Libya, marking the dawn of a new era in its energy aspirations and economic landscape. It invites us to ponder: how will this transition reshape not just Ethiopia, but the entire Horn of Africa? The announcement was made by…

Nigeria, despite holding the title of Africa's largest oil producer, finds itself in an ongoing struggle to consistently deliver crude feedstock to its flagship Dangote Petroleum Refinery, which is poised to refine up to 650,000 barrels daily. This disparity has compelled the refinery to look beyond its borders, seeking imports to maintain its operations. Why does this discrepancy exist in a nation rich in natural resources? It’s a question that can foster deeper discussions about the infrastructure, politics, and…

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…

Dangote Oil Refinery: A New Era in Fuel Production In an ambitious move, the Dangote Oil Refinery is set to import at least five million barrels of U.S. West Texas Intermediate (WTI) crude oil this July. This information comes from three well-informed trading sources who are familiar with the company's operations and strategies. Consider this: a refinery with the capability to process an astounding 650,000 barrels per day is looking to import approximately 161,000 barrels daily in July. This comes shortly after a…

Understanding Global Oil Shipping Routes: The Lifeblood of Our Economy Every day, vast tankers navigate the intricate web of oil shipping routes, transporting millions of barrels of crude oil and refined petroleum products. These pathways play a pivotal role in sustaining not only the global economy but also our energy security. Imagine a world where these routes suddenly ceased to function; a stark realization emerges: our daily lives, from the fuel in our cars to the heating in our homes, would be profoundly…

The Nicolaos, a Greek-operated Suezmax tanker, recently made headlines by successfully docking at the Sentuo Refinery. This event marked a significant milestone, heralding the resumption of operations at the refinery after a six-month hiatus. The anticipation surrounding this delivery was palpable, as it symbolized hope for a facility that had struggled to fulfill its potential. Using data from vessel tracking systems, one can see that the Nicolaos is no ordinary vessel. With a deadweight tonnage of 165,000, this tanker…