Dangote Refinery: A Milestone in Nigeria’s Oil and Gas Downstream Sector
The Chairman of the Dangote Group, Aliko Dangote, says the refinery is a milestone in a new and exciting trajectory for Nigeria’s oil and gas downstream sector.
He made this statement at the commissioning of the integrated refinery project located in the Lekki free trade zone area of Lagos State today.
Revealing that the first tranche of petroleum products from the refinery will be supplied to the market before the end of July, Dangote said, “It is our firm commitment that we will replicate in this sector what we have actually achieved in the cement and fertilizer markets while Nigeria transformed from being the largest importer of these crude products to a net exporter.”
The Goals of Dangote Refinery
Speaking at the commissioning, Dangote said, “Our first goal is to ramp up projections of various products to ensure that within this year, we are able to fully satisfy our nation’s demand for higher quality products.” He noted that ramping up projections will enable them “eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic substandard petroleum products.”
The Nigerian business magnate added that the refinery will run at the highest capacity utilisation and the highest efficiency to enable the refinery to export competitively to other markets.
What you need to know about the Refinery
The Dangote refinery established to refine 650,000 barrels of crude oil per day transforms crude oil into different petroleum products such as diesel, gasoline, jet fuel and kerosene. Reports say the refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.
This is as Dangote revealed that the facility can process a large variety of crudes, including African crudes, some Middle Eastern crudes, and US (United States) Light Tight Oil.
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