TotalEnergies Signs Crude Supply Deal with Dangote Refinery

TotalEnergies Signs Crude Supply Deal with Dangote Refinery

TotalEnergies has signed  supply deal of crude oil, marking the first deal with Dangote Refinery, TotalEnergies CEO Patrick Pouyanne announced during a meeting with Africa Africa’s richest man, Aliko Dangote.

“We met this morning, we made the first deal between both of us,” Pouyanne told a panel at the Africa CEO Forum in Kigali, Rwanda. “The two CEOs met with our head of trading, and we found the way to convince them to make a deal,” he added.

Dangote Refinery, which is the largest in Africa and Europe with a capacity of 650,000 barrels per day, aims to secure crude oil supplies.

In May, the company released a tender for two million barrels of West Texas Intermediate (WTI) Midland crude per month for a year, starting in July, according to Reuters.

Dangote aims to reverse Nigeria’s reliance on imports for fuel and other refined products even though the country is Africa’s biggest oil producer.

Dangote said the refinery had enough gasoline, diesel and aviation fuel to supply the African continent and export to Brazil.

“We started producing jet fuel, we are producing diesel, by next month, we’ll be producing gasoline. What that will do, it will be able to take most African crudes,” Dangote told the panel.

“Our capacity is too big for Nigeria. It will be able to supply West Africa, Central Africa and also Southern Africa,” he added.

Dangote also revealed that the next phase of the refinery will commence early next year, further increasing its production capacity.

 

 

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Doaa Ashraf 458 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

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