Baker & O'Brien Releases Q3 2021 U.S. Refining Industry in Focus - U.S. Refining Margins Continue Making a Comeback
Special Topic: Nigeria's Dangote Refinery: Making Waves in the Atlantic Basin
November 17, 2021
Baker & O'Brien’s third quarter 2021 PRISM analysis shows that improving demand and refinery utilization continues to underpin a sustained recovery in U.S. refining margins towards pre-COVID levels.
In our Special Topic, we review the likely impacts to refined product trade from the Nigerian Dangote Petroleum Refinery that is expected to be onstream in 2023. This single-train 650,000 B/D refinery has sufficient capacity to supplant all of West Africa’s product imports, and once complete, is likely to add further pressure on refining margins in the Atlantic Basin.
The newsletter can be found here: U.S. Refining Industry in Focus - November 2021