- Dangote Refinery Gets New Completion Date
The Dangote refinery which was scheduled to begin operation by 2020, has been rescheduled for 2021.
This was disclosed by the Executive Director of Dangote Group, Devakumar Edwin in an interview at a conference in Lagos State.
Edwin noted that the 650,000 barrels per day (bpd) integrated refinery and petrochemical project will reach its full capacity in the middle of 2021.
He added: “We are confident that we can meet 100% of the requirement of the country, so the balance will go for export.”
According to him, the Dangote refinery won’t be involved in the crude-for-fuel swap deal controlled by the Nigerian National Petroleum Corporation (NNPC).
“We are going to buy the crude just at the export price and will sell our products at the import price, the crude swap is operating only for the importers of the product.”
Edwin further disclosed that the company is planning to export its diesel to Europe and gasoline to Latin America, Western and Central African markets.
He noted that the clearing of refined products will be done by sea and through road.
“We are thinking of investing in vessels. We want to make sure we are not held for ransom by any transport operators.”
Recall that Dangote Group had earlier said when the refinery is completed, it will dedicate 53 percent of the capacity to the production of petrol, which means 344,500 barrels of its projected 650,000 barrels per day.
Owned by the richest man in Africa, Aliko Dangote, the refinery is aimed at transforming the nation’s economy.
“We are doing everything possible to ensure Nigeria moves from an importing country to an exporting country,” Dangote had earlier said, adding that “the most important thing for us is to see how we can partner with the NNPC; it is not to see how we can compete with the NNPC. We would like the NNPC to be part of us and we also want to be part of the NNPC. I think that is the only way we can achieve a win-win situation.”