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Dangote Refinery, as revealed by Devakumar Edwin, Dangote Group Executive Director, is gearing up for significant milestones in its operations:
1. **Diesel and Jet Fuel Production:** Starting in October 2023, the refinery is set to produce up to 370,000 barrels per day of diesel and jet fuel.
2. **Petrol Refining:** By November 2023, the refinery will commence the phased ramp-up to produce 650,000 barrels per day of petrol.
3. **Crude Supply:** Initially, there was a delay in crude supply due to prior commitments, but this is expected to be resolved by November 2023 when the refinery will run exclusively on Nigerian crude.
4. **Currency and Pricing:** The Nigerian oil will be purchased in US dollars because the refinery is located in a free zone. However, NNPCL (Nigerian National Petroleum Corporation Limited) will provide some crude at discounted prices due to its equity stake.
5. **Versatile Crude Processing:** The Dangote refinery can process a wide range of African crudes but not heavy Angolan grades, Middle Eastern Arab Light, or US light tight oil.
6. **Export Opportunities:** Excess gasoline of Euro 5 quality will be exported to various African markets, the US, and South America. Jet fuel will be exported to Europe, and diesel will be sold in sub-Saharan Africa.
7. **Benefits for Nigeria:** The refinery is expected to provide a reliable supply of environmentally friendly refined products, boost foreign exchange earnings, and alleviate fuel supply challenges in West Africa.
8. **Future Investments:** Revenue generated by the refinery will be reinvested, aligning with Aliko Dangote's focus on Nigeria's development.
In summary, the Dangote Refinery is on track to significantly impact Nigeria's energy landscape, offering a reliable supply of refined products, boosting the economy, and contributing to regional energy stability.
1. **Diesel and Jet Fuel Production:** Starting in October 2023, the refinery is set to produce up to 370,000 barrels per day of diesel and jet fuel.
2. **Petrol Refining:** By November 2023, the refinery will commence the phased ramp-up to produce 650,000 barrels per day of petrol.
3. **Crude Supply:** Initially, there was a delay in crude supply due to prior commitments, but this is expected to be resolved by November 2023 when the refinery will run exclusively on Nigerian crude.
4. **Currency and Pricing:** The Nigerian oil will be purchased in US dollars because the refinery is located in a free zone. However, NNPCL (Nigerian National Petroleum Corporation Limited) will provide some crude at discounted prices due to its equity stake.
5. **Versatile Crude Processing:** The Dangote refinery can process a wide range of African crudes but not heavy Angolan grades, Middle Eastern Arab Light, or US light tight oil.
6. **Export Opportunities:** Excess gasoline of Euro 5 quality will be exported to various African markets, the US, and South America. Jet fuel will be exported to Europe, and diesel will be sold in sub-Saharan Africa.
7. **Benefits for Nigeria:** The refinery is expected to provide a reliable supply of environmentally friendly refined products, boost foreign exchange earnings, and alleviate fuel supply challenges in West Africa.
8. **Future Investments:** Revenue generated by the refinery will be reinvested, aligning with Aliko Dangote's focus on Nigeria's development.
In summary, the Dangote Refinery is on track to significantly impact Nigeria's energy landscape, offering a reliable supply of refined products, boosting the economy, and contributing to regional energy stability.