Official: Dangote Refinery is set to start refining petrol in November.
According to the group's executive director, Devakumar Edwin, Dangote Refinery will begin refining petrol on November 30, 2023, and diesel and jet fuel operations on October 30, 2023.
Nigerian refinery Dangote is set to receive its first crude cargo in two weeks and begin producing up to 370,000 barrels per day of diesel and jet fuel in October 2023. The refinery aims to reach an impressive 650,000 barrels per day by November 30. Edwin, the refinery's CEO, stated that the Nigerian National Petroleum Corporation Limited (NNPCL) has committed their crude oil to another entity on a forward basis, causing a temporary delay. However, the refinery will soon run exclusively on Nigerian crude oil as of November 2023.
Edwin stated that the refinery can process most African crudes, Middle Eastern Arab Light, and US light-tight oil, with 50% of its production meeting 100% of Nigeria's requirements. Excess gasoline will be exported to other African markets, the US and South America, while jet fuel will be exported to Europe and diesel will be sold in sub-Saharan Africa.
The refinery would be "enormously beneficial to the country" by establishing a reliable supply of environmentally-friendly refined products and bringing "a huge amount of foreign exchange into the country." It would also play a pivotal role in alleviating fuel supply challenges faced by import-dependent West Africa, worsened by Nigeria's recent removal of fuel subsidies.
Revenues generated from the refinery's operations will be reinvested to fuel further developments, underscoring Aliko Dangote's commitment to Nigeria. The money generated from the refinery's operations will go for further investments, underscoring Dangote's commitment to Nigeria.
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