The Dangote Petroleum Refinery has initiated the exportation of refined petroleum products to neighboring West African nations, marking a pivotal moment that could reshape fuel markets across the region.
This milestone is seen as a signal of the refinery’s potential to transform regional fuel supply dynamics.
A report by Bloomberg on Tuesday, citing data from sources including Vortexa, Kpler, Precise Intelligence, and a ship-tracking platform, revealed that a tanker has transported a shipment of gasoline from the Dangote Petroleum Refinery to the waters off Togo’s coast.
The report revealed that the vessel, identified as CL Jane Austen, carried more than 300,000 barrels of gasoline and is currently stationed in an area popular for ship-to-ship transfers.
This development comes as Ghana considers sourcing refined petroleum from the Dangote Refinery to address its dependence on costly imports from Europe, a move estimated to save the country approximately $400 million monthly.
Chairman of Ghana’s National Petroleum Authority, Mustapha Abdul-Hamid, expressed optimism about this shift during the OTL Africa Downstream Oil Conference in Lagos last month.
Speaking on the potential benefits, Abdul-Hamid stated: “If the refinery reaches 650,000bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices.”
He further emphasized that reduced freight costs would lower the prices of other goods and services, boosting economic relief for the country.
In addition to Ghana, other African nations have expressed interest in importing fuel from the Dangote Refinery.
According to an exclusive report by The PUNCH two weeks ago, the refinery is preparing to export fuel to South Africa, Angola, and Namibia.
Furthermore, negotiations have reportedly commenced with Niger Republic, Chad, Burkina Faso, and the Central African Republic.
A source close to the refinery’s management confirmed these developments, stating: “I can confirm to you that talks are actually at the advanced stage with Ghana, Angola, Namibia, and South Africa, while the initial discussion is coming up with Niger, Chad, Burkina Faso, and the Central African Republic.”
The recent shipment of gasoline by CL Jane Austen, now floating off Lomé, Togo, is significant despite its modest volume in the context of the global gasoline market.
The location, often used for ship-to-ship transfers, means the cargo’s final destination remains uncertain. Nevertheless, industry watchers see this as a sign of the refinery ramping up production and its potential to disrupt traditional fuel supply chains in West Africa and beyond.
In October, the Dangote Refinery shipped its first seaborne gasoline cargo to Lagos, signaling the beginning of its operational impact.
Although the Federal Government has ended the Nigerian National Petroleum Company Limited’s monopoly on purchasing fuel from the refinery for domestic use, it has maintained the importation of fuel from Europe and the United States under existing regulatory frameworks.
Industry analysts believe that if the Dangote Refinery consistently produces significant export volumes, it could alter the dynamics of the regional gasoline market, reducing reliance on imports from distant markets and enhancing local availability.
Despite these promising developments, a spokesperson for Dangote declined to provide comments on the shipment. For now, all eyes are on the refinery as it positions itself as a game-changer in Africa’s energy landscape.
