It was recently reported that Nigeria’s new Dangote refinery, Africa’s largest at 650 Mb/d, was set to import U.S. crude, with trader Trafigura involved in the deal. That export appears to have happened this past week, with the VLCC Gem No. 1 loading through three different reverse-lightering operations across this week and last. Shortly after the end of the reporting week, she departed the U.S. Gulf Coast with a declared destination of Lagos, Nigeria.
Featured Articles
- Blog
Stranger in Town - Nigeria Turning to U.S. Crudes to Feed Dangote Refinery
If you asked someone where U.S. crude oil shipments would go when the Obama administration ended the ban on most crude exports in December 2015, it’s not likely that Nigeria would have come to mind. Yet this year marked the second time since the restrictions ended that U.S. oil has been sent to the OPEC member, this time to feed its long-awaited Dangote refinery. In today’s RBN blog, we will examine this development and the prospects for more U.S. exports to the West African nation.
- Analyst Insight
Weekly U.S. Crude Oil Exports Plummet But 4-Week Average Trends Higher
U.S. crude oil loadings averaged 2.9 MMb/d last week, a drop of 1.5 MMb/d from the previous week. Despite this, the four-week moving average was brought up to 3.8 MMb/d, with last week replacing a slightly lower volume for the week ended November 8.
- Blog
Deeper Bluewater - Phillips 66, Trafigura Continue Pursuit of a Deepwater Port Near Corpus Christi
Bluewater Texas, proposed by a 50/50 joint venture (JV) of Phillips 66 (P66) and commodity trading giant Trafigura, is in a unique position in the race to construct a deepwater crude oil export facility along the U.S. Gulf Coast. Of the four marketed deepwater proposals, Bluewater is the only project in the export-centric Corpus Christi market. It is also the only one in the group that does not include an offshore platform in its scope. In today’s RBN blog, we will explore these and other differences that set Bluewater apart.
