Nigeria’s new Dangote oil refinery is significantly ramping up its gasoil exports to West Africa, a move that has seen it take market share from European refiners. The refinery’s decision to do this was driven by the recent production of lower-grade gasoil as it awaits the restart of units needed for cleaner fuel production. In May, gasoil exports nearly doubled to 100,000 barrels per day (bpd), mainly to West African countries and one shipment to Spain. This shift has reduced EU and UK gasoil exports to West Africa to a four-year low. It also reduced Russian exports to an 8-month low. The refinery is able to sell its low grade gasoil to the region due to the lax standards surrounding the product. However, it is working assiduously towards meeting more stringent European standards and recently commissioned new equipment in pursuit of that goal.
SOURCE: REUTERS
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