Nigerian crude oil remained the mainstay of operations at the Dangote Petroleum Refinery between May and June 2026, supplying nearly 78 per cent of the refinery’s total feedstock despite continued imports from several foreign producers.
Cargo and pricing records released by the refinery showed that the Lekki-based facility processed 40.40 million barrels of crude during the two-month period, with 31.43 million barrels sourced from Nigerian oil fields and 8.97 million barrels imported from countries including Libya, Angola, Ghana and Guyana.
The figures indicate that local grades accounted for almost four out of every five barrels refined during the period, highlighting the increasing role of domestic crude in sustaining production at Africa’s largest refinery.
The refinery received 21.47 million barrels of crude in May and 18.93 million barrels in June. Of the May volume, Nigerian grades supplied 16.74 million barrels, representing 77.97 per cent, while imported crude contributed 4.73 million barrels or 22.03 per cent.
A similar pattern was recorded in June, when local crude deliveries stood at 14.69 million barrels, accounting for 77.58 per cent of total feedstock, while foreign supplies made up 4.24 million barrels, representing 22.42 per cent.
The refinery disclosed the data while explaining its crude procurement strategy, noting that purchases are made under long-term contracts linked to monthly average prices rather than day-to-day movements in international oil markets.
According to the records, Bonny Light emerged as the refinery’s most utilised crude grade during the review period, supplying 5.90 million barrels. Qua Iboe followed with 4.80 million barrels, while Amenam and Forcados contributed 4.00 million barrels and 3.89 million barrels respectively.
Together, the four grades supplied more than 18.5 million barrels, accounting for a substantial share of the refinery’s total crude intake.
Other Nigerian streams processed by the refinery included Escravos, Utapate, Cawthorne, Bonga, Agbami, Okwori and ABO, further demonstrating the refinery’s reliance on domestic production.
While local crude dominated supply, the refinery also continued to diversify its feedstock sources through imports. Libya was the largest foreign supplier during the period, delivering 2.10 million barrels of El Sharara crude.
International trading blends also featured prominently, with CJ Blend and EA Blend providing a combined 2.95 million barrels. Additional volumes came from Guyana’s Payara crude, Angola’s Cabinda grade and Ghana’s Jubilee crude.
The data also revealed a notable decline in crude procurement costs between May and June.
In May, some Nigerian grades, including Qua Iboe and Bonga, were purchased at prices exceeding $134 per barrel, bringing the total value of crude acquired during the month to approximately $2.68 billion.
However, crude prices eased significantly in June, with most cargoes trading between $90 and $97 per barrel. This reduced overall crude spending to about $1.80 billion, despite higher-priced deliveries such as Angola’s Cabinda grade, which arrived at $123.30 per barrel.
The decline mirrors developments in the global oil market, where weaker demand forecasts, increased production and easing geopolitical concerns contributed to softer crude prices.
Industry analysts believe the lower feedstock costs could improve the refinery’s profit margins while creating room for further reductions in refined product prices.
The figures come amid ongoing efforts by the Federal Government to strengthen implementation of the domestic crude supply obligation policy designed to ensure adequate feedstock for local refineries.
The Dangote refinery had previously raised concerns over difficulties in securing sufficient volumes of Nigerian crude, leading to increased purchases from international markets.
Nevertheless, the latest records suggest that domestic crude remains central to the refinery’s operations, reinforcing the importance of local production to Nigeria’s refining ambitions.
With refining capacity of 650,000 barrels per day, the Dangote refinery has become a major force in Nigeria’s downstream sector, reducing dependence on imported petroleum products and expanding fuel exports to markets across Africa and beyond.
The latest supply figures are expected to bolster confidence in the domestic crude supply framework and support efforts to position Nigeria as a leading refining hub on the continent.
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