The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production.
A report on Thursday stated that the plant has been shipping products in recent weeks while readying two units to enable gasoline (petrol) output that will deliver a long-promised transformation of the fuel market both in Nigeria and the region.
The refinery is running at about 300,000 barrels per day, nearly half its nameplate capacity, according to the average estimate of analysts at WoodMac, FGE, and Citac.
The complex has started shipping jet fuel, gasoil, and naphtha as it widens to a full slate of products.
African investors accounted for 22.76% of Nigeria’s foreign capital inflows in Q3 2024.
The National Bureau of Statistics (NBS) has reported that African investors, excluding those from Nigeria, contributed 22.76% of the total...
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