- Dangote Reveals Plan To Market Petroleum Products
Dangote Group has revealed its plan to market petroleum products from its refinery to the rest of the world.
The Company’s Executive Director, Strategy, Capital Projects and Portfolio Development, Devakumar Edwin disclosed this on Sunday when a delegation led by the Minister of State for Petroleum Resources, Timipre Sylva visited the refinery site in Lagos.
He hinted that the petroleum products of the refinery which has the capacity to process 650,000 barrels per day, will be exported to Europe, South America, West Africa and Central Africa.
“It is one of our targets to take diesel to Europe. Our equipment is already being designed to do this. We can take surplus petrol to South America, apart from West African countries and Central African countries. That is why decided to go for Euro V.
“The refinery can handle all the Nigerian crude grades and all the African crude grades, as well as some of the Middle East grades and the US light oil.”
Edwin further noted that the refinery can meet 100 percent of Nigerian requirements of liquid products and still have surplus to export.
Excited about the plan, Sylva pledged the Federal Government’s support in ensuring the development of the refinery.
“This is one of the impressive projects, if not the most impressive project, we have seen done by a Nigerian. It is a very encouraging development, and for us as government, we have also resolved to support this project fully.
“In terms of support, it will be in the areas of feedstock and off-take. Government will guarantee some of these things. But all these will come out of discussions with the President of Dangote Group. Once they put their needs on the table, we will look at them and see how to narrow the gap,” the Minister said.
On his part, the President, Dangote Group, Aliko Dangote, said, “We believe in Nigeria, and if we don’t do it by ourselves, nobody will come down here and do it for us. Nigeria is actually supposed to feed the entire West and Central Africa and that is what we are trying to do. That is why went for this massive capacity.”