Crude

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…

Crude oil has long been the backbone of the global energy economy, a fiercely competitive arena dominated by a few key players. The push and pull of geopolitics, technological advancements, and economic imperatives shape this essential resource, influencing not only nations' fortunes but also the daily lives of millions. Have you ever stopped to consider the intricate web of dependency that crude oil weaves through our societies? Global Leaders in Oil Production As of the latest statistics, the United States proudly…

As of Tuesday, April 22, 2025, the price of the OPEC basket, which comprises twelve distinct crudes, reached $69.94 a barrel. This figure represents a slight increase from the previous day's price of $69.65, as calculated by the OPEC Secretariat. This subtle shift in pricing might seem trivial at first glance, but it serves as a telling reflection of the intricate dance between supply and demand in the global oil market. Is it possible that such fluctuations are merely the calm before a more turbulent storm? The oil…

Navigating a Strategic Shift: Indonesia’s Changing Oil Dynamics In an era where global trade dynamics are in constant flux, Indonesia's recent pivot away from crude oil exports to Nigeria marks a pivotal moment in international economic relations. This decision stems from Indonesia's attempts to rectify its trade imbalance with the United States and sidestep a daunting 32% tariff on its exports. It’s a well-calibrated move, yet it raises several questions about the future of Nigeria’s oil revenues and its standing within…