Dangote Oil Refinery Commences Products Shipment to Local Market

SEATTLE (Oil Monster): According to latest media reports, Dangote oil refinery in Nigeria has commenced shipment of petroleum products to the local market. The refinery is expected to reach full capacity by 2024 or 2025, which will then make it the largest refinery complex in the entire African continent.

According to Devakumar Edwin, Group Executive, Dangote Refinery, petroleum products marketers in the country have started intake of products from the refinery. The products are being transported via both sea and land routes. Ships to load diesel and aviation jet fuel are seen queuing up, he said.

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Abubakar Maigandi, head of the Independent Petroleum Marketers Association of Nigeria noted that the local oil marketers have agreed for a price of 1,225 naira per litre of diesel. The members belonging to the Depots and Petroleum Products Marketers Association of Nigeria are seen seeking letters of credit towards purchase of petroleum products from the refinery. The talks with banks are in advanced stages, they noted.

Nigeria, though being a leading oil producer in Africa, has been relying on imported petroleum products, due to dearth of refining capacity. The Dangote refinery will help the country reduce its dependence on imports.