The company
'Dangote Petroleum Refinery and Petrochemicals', which drills and trades oil in
Nigeria, has started selling this oil to other countries including Cameroon,
which is one of the main goals of Aliko Dangote, who founded it, who wants to
reduce the amount of oil that African countries import, and it's underground.
This company
sells this oil to Neptune Oil, a company that distributes oil to many countries
in Central and West Africa.
This company
bought 60 thousand tons of refined oil, which should be sent to Cameroon, a
country that produces oil abroad and it is more expensive to get there due to
the cost of the long journey.
Dangote Petroleum
Refinery and Petrochemicals plans to sell 650,000 barrels of oil per day, which
will enable it to recover the investment of more than $20 billion spent on its
construction.
Neptune Oil said
it would like to discuss with the company to see how the two parties can
establish a long-term, mutually beneficial relationship because Dangote
Petroleum Refinery and Petrochemicals will have a steady supply, while other
countries will buy cheap oil.
The company plans
to export more than 56% of its oil production abroad, but this plan may take a
long time to be implemented. It is currently selling oil in Nigeria, but other
countries including Ghana have shown interest in starting to extract oil from there
