Dangote refinery secures licence to refine 300,000bpd crude

Africa’s wealthiest individual, Aliko Dangote, has made a significant announcement regarding his refinery’s operations. He confirmed that the Dangote Petroleum Refinery has obtained a license to refine over 300,000 barrels of Nigerian crude oil daily and is gearing up to begin processing gasoline imminently.NYSC Portal

Dangote emphasized the strategic decision to commence operations with Nigerian crude, highlighting a commitment to leveraging local resources. His comments were made during an interview in Riyadh, on the sidelines of the Saudi-Nigeria business roundtable, as reported by Bloomberg.

Dangote expressed confidence in the refinery’s readiness, stating, “We’re more than ready and you will see our gasoline products soon.”

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The refinery, one of the largest in Africa, had missed its initial production start date in August, along with several other deadlines over the years. However, Dangote remains optimistic, assuring that production will start “very very soon.”InformationGuideNigeria

The primary focus of the refinery upon commencement will be to cater to Nigeria’s gasoline needs before considering exports to other regions, including West Africa. This approach aligns with Dangote’s vision of supporting and enhancing Nigeria’s energy self-sufficiency.

According to a report by The PUNCH, the refinery is already in the process of importing crude oil, with its first cargo expected within two weeks. This development comes despite the Nigerian National Petroleum Company Limited (NNPCL) having committed its crude to other entities.JAMB Result

The Dangote refinery, with a capacity of 650,000 barrels per day, is poised to produce significant volumes of diesel, kerosene, and jet fuel. The facility will receive crude from various Nigerian producers as well as the state oil company.

In a broader context, Nigeria has been increasing its oil output, recently achieving 1.49 million barrels per day — the highest in almost two years. The country has also introduced a new grade of crude called Nembe through a joint venture, as part of its efforts to ramp up oil production.

The Nembe crude stream is managed and marketed by a partnership between the state-owned NNPC and Aiteo Eastern E&P Co. Ltd.

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