Africa's largest oil refinery, Dangote Refinery, has moved petrol production from June to mid-July.
On Monday, refinery President and CEO Aliko Dangote briefed media at the $20 billion site in Lagos of the new production date.
Dangote said a little delay pushed the date shift from June to mid-July.
The CEO claimed the factory would start generating gasoline between July 10 and 15 and distribute fuel to local merchants in the third week.
Although it delayed longer than expected, PMS will begin between July 10 and 15. We want to keep it in the tank to settle. "By the third week of July, we'll be ready to put it on the market," he said.
Background
Several news sites reported that the Dangote factory would begin producing and supplying petrol this month.
An S&P Global Commodities Insights expert predicted that the refinery would begin supplying petrol in the fourth quarter, probably in June.
"There are signs of activity, but everyone is waiting for the day when we can see that the project will start making petrol." Manufacturers are under pressure from the Nigerian government to divert stock to the country.
"When we see that start-up grow is still up for debate in real life." Dangote is pressing for tight timeframes. They plan to create petrol by May, according to recent statements. The experts stated it is more likely to happen in the fourth quarter of this year.
Taking jet fuel overseas
At the same time, the refinery began shipping petrol and jet fuel to shops nationwide.
The $20 billion factory shipped its first jet fuel to Europe.
S&P Global Commodities at Sea claims the first consignment, on the ship "Doric Breeze," left the Lekki Free Zone in Lagos on May 27 for Rotterdam, Netherlands.
Additional Thoughts
The Dangote refinery should reduce Nigeria's dependence on foreign oil.
Nigeria imports most of its fuel despite having the most people and oil in Africa.
This is because the country lacks refinery infrastructure, which the new refinery would address.
Dangote claimed the plant will be a world-class oil refinery.
"We're doing this so that we can send oil products anywhere and compete with any business." By next week, we'll create 10,000 ppm fuel. Currently, we import 2,000-3,000 ppm. "We will make the best," Dangote stated.
Comments