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Apr
04
2024
By ISAAC ANYAOGU
Nigeria’s Dangote refinery supplies petroleum products to local market

Nigeria’s Dangote refinery supplies petroleum products to local market

BUSINESS
NIGERIA'S Dangote oil refinery started supplying petroleum products to the local market, a company executive and fuel marketing associations said, a major step in the country's quest for energy independence. The refinery, Africa's largest, was built on a peninsula on the outskirts of the commercial capital Lagos at a cost of $20 billion by the continent's richest man Aliko Dangote and was completed after several years of delays. It can refine up to 650,000 barrels per day (bpd) and will be the largest in Africa and Europe when it reaches full capacity this or next year. Dangote's group executive, Devakumar…
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Dec
10
2023
By MACDONALD DZIRUTWE
Nigeria’s Dangote refinery receives first crude cargo

Nigeria’s Dangote refinery receives first crude cargo

BUSINESS
THE Dangote oil refinery in Nigeria received its first cargo of 1 million barrels of crude oil from Shell International Trading and Shipping Co (STASCO), bringing the start of operations closer after years of delays. Once fully running, the 650,000 barrel-per-day refinery funded by Africa's richest man Aliko Dangote will turn oil powerhouse Nigeria into a net exporter of fuels, a long-sought goal for the OPEC member that almost totally relies on imports. Dangote Group said in a statement seen by Reuters on Friday that the cargo of 1 million barrels of crude from Agbami - a deep water field run…
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Nov
04
2023
By JULIA PAYNE and LIBBY GEORGE
Exclusive: Nigeria brings major Dangote refinery to life with own oil supply

Exclusive: Nigeria brings major Dangote refinery to life with own oil supply

NEWS
NIGERIA'S state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs, three industry sources with knowledge of the matter said. The refinery, funded by Africa's richest man, Aliko Dangote, will transform oil trading in the Atlantic Basin and remove a lucrative outlet for fuels produced in Europe and the United States that have for years powered the cars, trucks and generators on the continent. The refinery is in the Lekki free trade zone near Lagos. Once it is fully up…
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May
23
2023
By MACDONALD DZIRUTWE
Nigeria commissions Dangote refinery, seeks to end fuel imports

Nigeria commissions Dangote refinery, seeks to end fuel imports

NEWS
NIGERIA commissioned Dangote Refinery amid hopes of transforming the country into a net exporter of petroleum products, but analysts said securing crude supplies could affect its achieving full production this year. The government of outgoing President Muhammadu Buhari sees the refinery as the answer to Nigeria's repeated fuel shortages, the latest of which hit the country in the run-up to February's disputed presidential election. Nigeria spent $23.3 billion last year on petroleum product imports and consumes around 33 million litres of petrol a day. Dangote's 650,000 barrels per day refinery plans to produce 53 million litres a day. The plant plans to…
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