Dangote Seeks More Nigerian Crude to Cushion Fuel-Price Gains
A storage tank at the Dangote Industries oil refinery in Lagos, Nigeria.
Photographer: Benson Ibeabuchi/BloombergBillionaire Aliko Dangote’s refinery is seeking to buy more crude from Nigeria’s government to help soften the impact of rising fuel costs.
The refinery, which has the capacity to process 650,000 barrels a day of oil, gets about five cargoes of crude a month from the state-run Nigerian National Petroleum Co., Dangote Refinery Chief Executive Officer David Bird said at a briefing in Lagos on Monday. The facility can “easily” take 13 or more cargoes, he said.