Dangote Refinery Breaks New Record, Sells Fuel to World’s Biggest Oil Company in Saudi Arabia
- The Dangote Refinery has sold two consignments of jet fuel to Saudi Aramco, the world’s biggest oil company
- Africa’s richest man, Aliko Dangote, revealed this during a facility tour by the Nigerian Economic Summit Group (NESG)
- Experts believe that Saudi Aramco’s patronage of Dangote Refinery pitches it as one of the world’s biggest refining facilities
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The mega Dangote Refinery has exported two consignments of jet fuel to Saudi Aramco, the world’s biggest energy company valued at $1.92 trillion.
The move establishes Dangote Refinery as a global leader in the energy business.
Source: UGC
Aliko Dangote confirms jet fuel sales
President of Dangote Industries Limited, Aliko Dangote, disclosed this to the directors of the Nigerian Economic Group (NESG) during the facility’s tour on Tuesday, February 4, 2025, saying the refinery is making giant strides.
Dangote said the facility is already attaining great heights, selling two cargoes of jet fuel to the state-owned Saudi Aramco.
Experts say Saudi Aramco’s patronage of Dangote Refinery shows the quality and size of the refinery.
In 2024, S&P Global reported that British Petroleum (BP) purchased its first jet fuel consignment from the Lekki-based refinery, with sources confirming that the shipment marked the beginning of BP cargo of about 45,000MT.
The report said the shipment shows the growing reach of products from the world’s single-train refinery as it moves to ramp up production.
In 2024, the $20 billion refinery issued tenders for the first export consignment from the refinery.
Dangote Refinery exports product to Singaport
According to reports, the first cargo was 65,000 metric tonnes of low-sulphur straight-run fuel oil, which it sold to Trafigura and the second was 60,000MT naphtha.
Legit.ng had reported that Singapore also received its first low-sulphur straight-run fuel oil cargo from Dangote Refinery.
BusinessDay reported that the development marked a new trade route between the facility and Asia.
The Dangote refinery, which started production in January last year, can refine up to 650,000 barrels per day of products.
The refinery is expecting a shipment of 12 million barrels of crude oil from the US as it plans to ramp up production this June.
Dangote Refinery intensifies competition
Legit.ng earlier reported that several oil marketers are changing their brand names from the Nigerian National Petroleum Company Limited (NNPC) at their fueling stations following the crash in petrol prices by the Dangote Refinery.
The refinery’s actions have sparked an intense price war between the state oil firm, which operates the Port Harcourt and Warri refineries, and the mega refinery owned by Africa’s richest man, Aliko Dangote.
Findings show that more marketers are considering moving away from the NNPC franchise as they seek to maximise profit following the deregulation of the petroleum downstream sector.
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Source: Legit.ng
