The Dangote Oil Refinery, Africa’s largest, is set to operate at full capacity within 30 days, according to its Executive Director, Edwin Devakumar.
The 650,000-barrel-per-day refinery, built by billionaire Aliko Dangote in Lagos, began processing diesel, naphtha, and jet fuel in January last year and commenced petrol production in September.
Despite its ambition to compete with European refineries, the plant initially struggled to secure sufficient crude oil locally, leading it to import supplies.
However, Devakumar stated on Monday that the refinery is now operating at 85% capacity and could reach 100% within a month.
To address supply challenges, the Nigerian oil regulator has mandated 550,000 barrels per day (bpd) of crude for domestic refineries between January and June 2024. Additionally, the regulator has warned that oil producers who fail to meet their supply obligations will be denied export permits.
As part of its expansion strategy, the Dangote Refinery is actively exploring international markets for its refined products.
Speaking to a delegation of Nigerian professionals, Aliko Dangote revealed that the refinery recently shipped two cargoes of jet fuel to Saudi Aramco, marking a significant step in its global trade plans.
“We are looking at all the markets right now,” Devakumar added, signaling the refinery’s intent to become a key player in the global oil market.
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