The Dangote Oil Refinery, Africa’s largest, is on track to operate at full capacity within 30 days, according to Edwin Devakumar, the refinery’s vice president. The facility began operations last January and currently runs at 85% capacity. When it was launched, the refinery processed diesel, naphtha, and jet fuel. However, it also began processing petrol in September 2024. The refinery, built by billionaire Aliko Dangote and situated in Nigeria’s economic capital, Lagos, aims to rival European refineries. However, it struggled to secure enough locally produced crude, forcing it to import supplies from other countries. Nevertheless, it has requested 550,000 barrels per day of crude from local sources for January to June. To overcome the supply hurdle, Nigeria’s oil regulator has mandated that oil producers meet their supply quota to local refineries, warning that those who default risk losing their export licenses.
Source: Reuters