Dangote Refinery to Import Five Million Barrels of US Crude Oil, Moves to Cut Petrol Prices Again

• The Dangote Refinery is scheduled to import about five million barrels of WTI crude in July 2025
• This is according to a tender, which shows that the imports are from three different dealers
• Reports say Dangote’s previous record for the WTI crude imports was about 173,000 in April

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Dangote Refinery will continue its crude oil imports, with reports saying that it has already secured five million barrels of US WTI scheduled for July this year.

The mega 650,000 bpd capacity facility is set to import about 161,000 barrels per day of West Texas Intermediate (WTI), Reuters quotes sources as saying, extending its buying spree after June supplies.

Dangote Refinery to buy crude from 3 firms

According to the report, the final totals for July are subject to change if the refinery makes more purchases.

The refinery’s buying spree shows the increasing rivalry oil exporters face as OPEC+ producers increase output, with US crude facing steep competition from Asia against a six-month drop in spot premiums for UAE Murban crude.

Vitol, a commodity trader, reportedly supplied two million barrels for July delivery in the latest tender for the Nigerian refinery, while Azeri state-owned Socar supplies another two million, and Glencore sold the remaining one million barrels.

The companies refused to comment on the reported tender for purchases.

The dealers of the nine million barrels Dangote bought for June arrival in an earlier tender were confirmed by a Reuters report.

Reports say Dangote’s previous record for the WTI crude imports was about 173,000 in April, according to data from global shipping data-tracking firm Kpler.

Dangote purchases crude from African countries

"We can take only what they are giving to us from Nigeria, this is a known fact. We have to import the rest," said Edwin Devakumar, head of the Dangote Oil Refinery.

The giant refinery’s crude blend comprises mainly Nigerian grades, despite its WTI purchases since March 2024.

In 2025, the refinery also bought spot cargoes from Angola, Equatorial Guinea, Algeria, and Brazil, available data show.

Industry monitor, IRR, said the refinery is expected to operate at a reduced rate until October due to recent issues, after cancelling the scheduled June turnaround maintenance.

According to reports, the refinery is gearing up to hit 85% operating capacity, as it has been running at 80% since March this year.

Dangote imports 5 million barrels of crude

Legit.ng earlier reported that the Dangote Refinery increased its crude imports in May 2025, receiving about 672,324 metric tonnes of crude from five different oil tankers.

The cargoes were delivered between April 23 and May 21, 2025, and were approximately 4.93 million barrels, according to industry conversion rates.

The volumes show the refinery’s continued dependence on imports to meet processing needs amid challenges in getting local crude under the Nigeria Domestic Crude Supply Obligation (DCSO).

Source: Legit.ng