The Dangote Petroleum Refinery Group Executive Director says Dangote Refinery is set to begin refining petrol by November 30, 2023, and diesel and jet fuel operations by October 2023.
Dangote Refinery plans to start making petrol by November 30, 2023, and diesel and jet fuel by October 2023. According to Devakumar Edwin, the group’s executive director, the refinery will receive its first shipment of crude in two weeks and will produce up to 370,000 barrels per day of diesel and jet fuel by October 2023.
The refinery will gradually increase petrol production, aiming for 650,000 barrels per day by November 30. Edwin mentioned that the refinery is ready to receive crude oil and is waiting for the first shipment.
Edwin explained that the Nigerian National Petroleum Corporation Limited (NNPCL) had initially committed their crude oil elsewhere, causing a temporary delay. However, the refinery will use Nigerian crude oil exclusively from November 2023.
Crude oil from Nigeria will be purchased in US dollars, not naira, due to its location in a free trade zone near Lagos. The NNPCL will supply some crude at lower prices due to its equity stake.
The Dangote refinery can process various African crudes, Middle Eastern Arab Light, and even US light-tight oil. Excess gasoline will be exported to other African markets, the US, and South America, while jet fuel will go to Europe, and diesel will be sold in sub-Saharan Africa.
Devakumar Edwin highlighted the refinery’s importance for Nigeria, providing eco-friendly products and bringing foreign exchange into the country. It will also help solve fuel supply challenges in West Africa, aggravated by Nigeria’s removal of fuel subsidies.
Revenues generated by the refinery will be reinvested in further developments, reflecting Aliko Dangote’s commitment to Nigeria.
