This is your 1 News posts out of 3 that you are entitled to as a guest.

Please sign up for one of our PREMIUM SUBSCRIPTIONS to continue your access to Global Energy Infrastructure.

Nigeria Commissions the 650,000 barrels per day Dangote Refinery in an Effort to Cease Fuel Imports to the Country

5/22/2023

Nigerian President Muhammadu Buhari performed a commissioning ceremony on Monday to formally announce that the 650,000 barrel per day Dangote refinery had officially begun, with crude refining anticipated for a June startup. The country hopes that this will bring about fuel independence, but securing crude supplies for the project could prove to be difficult.

The Dangote refinery has experienced years of delays as the project has cost approximately $19 billion to finally complete. This refinery is expected to produce enough petroleum products to become an export hub eventually, as this refinery is planning to produce 53 million liters a day. Nigeria currently consumes about 33 million liters per day. The rest of the production would be exported as the country hopes to become an export hub.

The Dangote refinery will require a constant supply of crude from Nigeria, but in recent years the oil production in the country had declined due to factors such as oil theft, pipeline vandalism and lack of investment into growth and infrastructure.