The Dangote Refinery has struck a deal with Neptune Oil to export petrol to Cameroon, a major step in energy integrationThe companies described the shipment as a critical collaboration to boost economic ties between the two countriesThe two firms are exploring further plans to establish a reliable supply chain to stabilise fuel prices
Henzodaily.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Dangote Refinery and Neptune Oil have announced their maiden petrol export to Cameroon, representing a significant step in regional energy integration and collaboration.
The firms described the shipment as a strategic collaboration to strengthen economic ties between the two countries while addressing rising energy demands in the region.
Chairman of the Dangote Group, Aliko Dangote, praises efforts at exporting petrol
Credit: Bloomberg/Contributor
Source: UGC
Dangote speaks on first petrol export to Cameroon
The two firms are exploring further plans to establish a reliable supply chain, stabilise fuel prices, and create new economic opportunities in the region.
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According to a statement, Aliko Dangote, Chairman of the Dangote Group, said the move is the first step to exporting petrol to Cameroon and is a tangible demonstration of the company’s vision for united and energy-independent Africa.
He said with the new development, the refinery is laying the foundation for a future where African resources are refined and exchanged on the continent for the people.
The Lekki-based refinery is Africa’s largest, with a processing capacity of 650,000bpd, and is seen as the group’s flagship project.
There have been predictions that the facility will disrupt African and European energy markets when it reaches full production capacity.
It will also eliminate Nigeria’s dependence on imported fuel, which has gulped trillions of naira.
Other countries begin negotiations for petrol purchases
The export shows Dangote Refinery’s capacity to meet Nigeria’s fuel requirements while positioning it as a significant player in the regional energy market.
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Filling stations reduce fuel price as Dangote, marketers strike deal
According to a Punch report, the refinery facilitates access to high-quality, locally sourced petroleum products from Central African countries while reducing its reliance on imports
The refinery has also begun fuel exports to South Africa, Angola, and Namibia.
Also, other African countries such as Niger Republic, Chad, Burkina Faso, and the Central Africa Republic have begun negotiations with the refinery for PMS purchases.
Reports say Antoine Ndzengue, Director and Owner of Neptune Oil, said the partnership with Dangote Refinery is a turning point for Cameroon.
Another Nigerian refinery begins fuel export, top buyers revealed
Henzodaily.ng earlier reported that reports disclosed that the Port Harcourt Refinery has begun fuel exports.
Kepler, a data analysis company, said the refinery sold its first cargo to a Dubai-based Gulf Transport and Trading Limited.
The company also revealed that the refinery had started its Coolant Distribution Unit 1, with an estimated pinning operation of 20,000 barrels daily.
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Source: Henzodaily.ng