Patrick Maweu retweetledi
If you don't understand this thread, i'll explain it in the most basic terms.
So, a crack spread is what measures the the difference between the market price of refined petroleum products and the cost of the crude oil used to produce them. In this case, it uses the 4-2-1-1 variant which means that for every 4 barrels of crude input, the refinery produces 2 barrels of gasoline, 1 barrel of diesel, and 1 barrel of fuel oil.
If you look at the chart, it shows that the spread held flat from November 2025 through late January 2026, then spiked sharply in March 2026. The $60/bbl figure means Dangote currently earns roughly $60 over its crude input cost for every barrel it processes.
A higher crack spread means a refinery is more profitable per barrel.
For Dangote as an operator, $60/bbl is an exceptionally wide margin by global standards. Global complex refiners typically operate at $10 to $20/bbl in normal market conditions.
K. D. Ivi-Oreh@NagosBigBoi
The Dangote crack spread is actually above $60/bbl currently. It has more than doubled.
English
