In the heart of Africa, a new era in the oil sector is dawning as the Dangote Refinery completes the first export of refined oil to Neptune Oil in Cameroon. This first shipment of 60,000 tonnes of fuel illustrates the ambition and impact of this cooperation on the regional economy.
Neptune Oil, a major player in distribution and retail in Central Africa, is partnering with the refinery to establish a reliable supply chain aimed at stabilizing fuel prices and opening up new opportunities in the region.
Aliko Dangote, the visionary behind this innovative project, plans to export 56% of its total fuel production, despite crude supply challenges that could hamper the refinery’s operations.
The 650,000 barrel per day facility began selling gasoline domestically in September, with Nigeria’s national oil company as the sole buyer. State-owned NNPC has relied heavily on imports for its domestic gasoline supply, but it hopes that Dangote’s operations will reduce this dependency and save the state crucial foreign exchange.
In October, Dangote and NNPC launched a crude-for-gasoline swap deal settled in Naira, a significant step forward that will help strengthen energy stability in the region.
This collaboration between Dangote Refinery and African oil players marks a major turning point in the continent’s energy landscape, paving the way for mutually beneficial cooperation that will foster economic development and regional stability.