Singapore, Asia's oil hub, is expected to receive more fuel from Nigeria's Dangote Refinery in April. This follows a spike in arrivals last month.

Sources said that the refinery offered to export additional residual fuel in its most recent tender, which was held this week. The cargo is expected to be loaded between April 17-19.

The combined cargo will consist of approximately 85,000 metric tonnes of low-sulphur straight run fuel oil and 35,000 metric tons slurry. Sources said that the tender will close on Friday.

According to tender records, the refiner sold a shipment for loading between April 10 and 12 based on the data compiled by.

Kpler, a shipping analytics company, reported that Asia would be the number one destination for fuel oil exported from the Dangote Refinery by 2024.

Sources said that Dangote only exports fuel oil occasionally, depending on the refinery plant's status.

Kpler data showed that Asia saw a monthly record of Nigerian fuel arrivals totaling more than 300,000.

Fuel oil benchmarks are expected to soften in Asia due to expectations of increased supplies. They have already weakened in recent sessions.

(source: Reuters)