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Market Chatter: Dangote Refinery Buys 16 Million Barrels of Nigerian Crude for October

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Nigeria's Dangote refinery has bought at least 16 million barrels of Nigerian crude for October delivery, maintaining recent purchase levels as the 700,000-barrels-per-day plant ramps up processing, Reuters reported on Thursday.

The volumes, equivalent to about 520,000 b/d, reportedly include monthly allocations from Nigerian National Petroleum, or NNPC, and crude purchased through a tender.

Dangote received 565,000 b/d of Nigerian crude in August, nearly double last year's average, Reuters said, citing Kpler data. NNPC is to supply eight October Nigerian cargoes and one US WTI Midland cargo, while additional spot purchases will bring the total to 16 million barrels.

Dangote Refinery and NNPC did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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