(3 Minutes Read)
Dangote oil refinery in Nigeria has started producing diesel and aviation fuel. This comes after facing years of construction delays at the USD 20 billion facility.The first crude delivery took place in December 2023, and the sixth cargo was successfully delivered on 8 January 2024.
The refinery’s operation is expected to turn Africa’s largest oil producer into a net exporter of fuels. Nigerian oil firms have been mandated to provide 483,000 bpd to the Dangote refinery and five other refineries in the first half of 2024. Earlier in the week, the arrival of the sixth crude cargo from the Agbami field in the Niger Delta brought the total crude stock received at the facility to six million barrels of oil, the required amount to bring the 650,000 barrels per day (bpd) facility to life. Aliko Dangote, the President of Dangote Group, expressed gratitude to President Bola Ahmed Tinubu for his support and stressed the importance of the facility. Diesel and aviation fuel and the products will be in the market within this month once the refinery receives regulatory approvals. This achievement for the country demonstrates its ability to develop and deliver large capital projects, and this is a game changer for Nigeria.
The refinery’s operation is expected to turn Africa’s largest oil producer into a net exporter of fuels, a long-sought goal for the OPEC member that almost totally relies on imports. Nigeria is Africa’s largest oil producer, but it imports refined petrol despite having refineries that have become dysfunctional. Oil explorers in the country export crude to foreign refiners and import it back to the country for sale to downstream players, eroding its foreign exchange reserves.
Read Also:
https://trendsnafrica.com/dangote-refinery-gets-another-1-million-barrels-of-crude-oil-from-shell/
https://trendsnafrica.com/first-shipment-of-crude-oil-reaches-aliko-dangote-refinery-2/
https://trendsnafrica.com/dangote-says-it-cooperates-with-investigating-agencies/
The refinery, expected to generate 27 million liters of diesel, 11 million litres of kerosene, and 9 million litres of jet fuel, will source crude from various producers in Nigeria, including the country’s state oil company. The long-awaited refinery is starting with 350,000 barrels a day. The Refinery can load 2,900 trucks a day at its truck-loading gantries, and the products from the Refinery will conform to Euro V specifications.
