The plant, built by Africa’s richest man Aliko Dangote, issued a so-called term tender for the purchase of 2 million barrels a month of West Texas Intermediate (WTI) Midland crude for 12 months starting in July, according to a document seen by Bloomberg. The tender closes on May 21, it said.
The call for US oil highlights how influential the plant will be in global crude and fuel trading. It also reflects Nigeria’s struggle to lift its own crude production, which remains well below theoretical capacity, as well as Dangote’s willingness to tap cheaper supplies than it can find at home.
