Nigerian modular refineries, facing an unreliable domestic crude oil supply, are exploring imports from the United States. This comes as investors hesitate to fund refinery projects without a guaranteed source of crude.
The newly built Dangote refinery is already using US oil for a portion of its needs, citing competitive pricing. Modular refinery operators are looking to secure long-term supply agreements to diversify their crude sources.
Nigeria has a large number of licensed modular refineries, but their operation has been limited by a lack of consistent crude oil supplies. The government plans to implement a program to mediate agreements between refiners and domestic producers, but details on the specific quantities of crude each refinery will receive are still being finalized.
Source: Business Day