U.S. Gulf Coast crude exports soared to 4.4 MMb/d for the week ended August 21, with cargos headed solely to Nigeria after a roughly five-month absence (as seen in the red dashed oval in chart below). Two Aframax cargoes loaded during the week for delivery to the Dangote Refinery in Lekki, Nigeria. As discussed in this week's Crude Voyager, the Aframax Marlin Lome departed the Seabrook Terminal in Houston and the Aframax Sti Elysees loaded out of the South Texas Gateway Terminal in Corpus Christi. Exports to Nigeria averaged 200 Mb/d (blue bar at far right of chart) for the week, marking the first U.S.-loaded vessels expected to fully discharge in Africa since March.
The return is notable because Dangote’s pull on U.S. crude fell sharply this spring as the refinery gained better access to domestic Nigerian grades. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria's crude imports dropped from 9.4 MMbbl in March to just 410 Mbbl in April, with locally sourced barrels supplying most of its feedstock. Dangote also broadened its slate with Middle Eastern crude later in the summer, including its first UAE cargoes, further reducing the need for Atlantic Basin light sweets such as WTI Midland.
