Dangote Refinery is set to begin refining petrol by November 30 2023, and diesel and jet fuel operations by October 2023, says the group’s executive director, Devakumar Edwin.
In an interview with S&P Global Commodity Insights on Monday, Edwin mentioned that the refinery will receive its first crude cargo in two weeks and will start producing up to 370,000 barrels per day of diesel and jet fuel by October 2023.
Furthermore, Edwin pointed out that the refinery would gradually increase petrol production, aiming to reach an impressive 650,000 barrels per day by November 30.
He emphasised the refinery’s readiness to receive crude oil.
“Right now, I’m ready to receive crude. We are just waiting for the first vessel. And so, as soon as it comes in, we can start,” he said.
Regarding the shift in the original timeline, Edwin clarified, during his conversation with S&P, that the Nigerian National Petroleum Corporation Limited had already committed their crude oil to another entity on a forward basis, causing a temporary delay.
He said the setback is momentary, and the refinery would soon run exclusively on Nigerian crude oil as of November 2023.
He noted that the Nigerian oil would be bought in US dollars and not naira because it is in a free trade zone on the outskirts of Lagos.
Edwin further stated that, aside from heavy Angolan grades, the Dangote refinery can process most African crudes, Middle Eastern Arab Light and even US light-tight oil.
His words: “We can take even some of the Russian grades if the global system opens up to allow us to receive them.
”Basically, if you look at our production profile, 50% of my production will meet 100% of the requirements of the country.”
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