Historically, Africa has been heavily dependent on Western suppliers for its refined petroleum product needs. This dependence has resulted in a marked influence of European and American companies in African markets, often dictating the prices and availability of essential products such as gasoil et l’essenceThis dynamic has long placed the continent in a position of economic vulnerability, dependent on price fluctuations and commercial decisions made thousands of kilometers from its coasts.
The situation seems to be changing, however, with the emergence of new powerful players on the continent, such as the group’s oil refinery. Dangote. a few months after the start of its production, this installation has not only increased its refining capacity, but has also begun to redefine the contours of the oil market in West Africa. The refinery has recently succeeded in exporting 100,000 barrels of diesel per day with the majority of its cargoes destined for West African countries and a portion shipped to Spain.
This phenomenon has caused a shock wave among traditional suppliers in the region. The agency’s data Reuters reveal a significant drop in diesel exports from the European Union and the United Kingdom towards West Africa, fallen to 29,000 barrels per daythe lowest level in four years. Russian suppliers also saw their shipments drop drastically, marking the lowest level in the last eight months.
The Dangote refinery represents a major investment by $20 billion. Presented as the largest in Africa with a processing capacity of 650,000 barrels per dayit was designed to optimize the use of Nigerian crude. However, it also has the flexibility to process other types of crude from various African countries, Saudi Arabia and even the United States.
Besides diesel, the refinery also produces fuel oil, naphtha and jet fuel, expanding its footprint in the international market. Indeed, after supplying neighboring countries like Senegal and the TogoDangote recently exported a cargo of jet fuel to Europe, marking its entry into markets traditionally dominated by Western refineries.
Dangote’s rise in the oil industry represents not only a turning point for the African refining market, but also a potential rebalancing of forces in the global oil industry. As the continent gradually moves away from its historical dependence on Western suppliers, the implications of this transition could redefine economic and trade relations not only in West Africa, but globally.
