The $19 billion facility, which has a capacity to produce 650,000 barrels per day, has started to produce diesel and aviation fuel, the Dangote Petroleum Refinery company reported Saturday. As Nigeria’s first privately owned oil refinery, the project “is a game-changer for our country,” it added.
This is the best summary I could come up with:
ABUJA, Nigeria (AP) — Africa’s biggest oil refinery has begun production in Nigeria, the company has said, ending a yearslong wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
The nation’s oil and natural gas sector has struggled for many years, and most of its state-run refineries operate far below capacity because of the poor maintenance.
The plant is expected to meet 100% of Nigeria’s needs for gasoline, diesel, kerosene, and aviation jet fuel at full production capacity, Dangote said last year when the facility was opened.
The plant received about 6 million barrels of crude so far from Nigeria’s state oil firm, NNPC Limited, to kickstart its operation, although it could take months before the refinery reaches full capacity, according to analysts.
Some citizens have expressed hope that the new plant would soon help reduce consumer gas prices, which have tripled from a year ago after the government stopped decadeslong subsidies,
Analysts have said any impact on prices would still depend on industry trends such as the cost of crude, government interventions such as subsidies, and the local currency’s exchange rate to the dollar.
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