Dangote, Neptune Oil announce maiden export of petroleum products to Cameroon

*Dangote Petroleum Refinery and Neptune Oil announce the first-ever export of Premium Motor Spirit, also called petrol from the African largest oil refinery, located in Lagos to Cameroon in a landmark move for regional energy integration

Alexander Davis | ConsumerConnect

The Dangote Petroleum Refinery and Neptune Oil have announced the first-ever export of Premium Motor Spirit (PMS), otherwise known as petrol from the African largest oil refinery to Cameroon in a landmark move for regional energy integration.

Dangote Group Wednesday, December 11, 2024, stated the milestone, resulting from a strategic collaboration between the two companies, has underscored their “commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands.”

Speaking on the development, Alhaji Aliko Dangote, President and Chief Executive (CE) of Dangote Group, stated: “This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa.

“With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people.”

Antoine Ndzengue, Founder and Director of Neptune Oil emphasised: “This partnership with Dangote Refinery marks a turning point for Cameroon.

“By becoming the first importer of petroleum products from this world-class refinery, we are bolstering our country’s energy security and supporting local economic development.

“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”

According to Dangote, the collaboration between Dangote Petroleum Refinery and Neptune Oil does not end with this first export.

It stated both companies are exploring fresh initiatives to establish a reliable supply chain that will help stabilise fuel prices and create new economic opportunities across the region.

Major impact of oil export in regional energy market

According to Dangote Refinery, for Nigeria, this export showcases Dangote Petroleum Refinery’s ability to meet domestic needs and position itself as a key player in the regional energy market.

The company said: “It represents a significant step forward in accessing high-quality and locally sourced petroleum products for Cameroon.”

Dangote Refinery, located in Lagos, Nigeria, is the largest single-train refinery in the world, with a processing capacity of 650,000 barrels per day.

The refinery is a flagship project of the Dangote Group, which is dedicated to transforming Africa’s energy landscape.

Neptune Oil is a leading energy company in Cameroon, committed to providing reliable and sustainable energy solutions.

Through collaborations with international partners, Neptune Oil plays a pivotal role in driving economic growth in the region.

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