By Oke Peter
*Dangote Refinery will continue to meet Nigeria’s fuel demand despite global supply disruptions and market volatility.
*Domestic refining gives Nigeria supply security, ensuring the country avoids fuel shortages and queues even when global markets are disrupted.
*Even under the crude-for-naira arrangement, Nigerian crude is purchased at international benchmark prices, meaning the refinery does not receive discounted crude.
MD/CEO Dangote Refinery David Bird during the media chat on Monday.
*Import dependent countries are worst hit as the global oil crisis escalate
*Global oil markets are experiencing extreme volatility, with crude prices rising from the mid-$60 range to nearly $120 per barrel within a week.
*The refinery is fully exposed to international commodity markets, including crude oil prices, freight rates, insurance, and financing costs.
*Freight costs have surged dramatically, with tanker costs rising from about $800,000 to roughly $3.5 million per shipment in the current market environment.
*Dangote Refinery operates at its full nameplate capacity of about 650,000 barrels per day, with potential to increase production to around 700,000 barrels per day.
