50.24$US/1 Barrel
58.30$US/1 Barrel
53.70$US/1 Barrel
70.77$US/1 Barrel
75.61$US/1 Barrel
75.71$US/1 Barrel
77.66$US/1 Barrel
68.98$US/1 Barrel
68.83$US/1 Barrel
67.03$US/1 Barrel
51.81$US/1 Barrel
57.57$US/1 Barrel
55.28$US/1 Barrel
62.57$US/1 Barrel
64.72$US/1 Barrel
60.50$US/1 Barrel
62.00$US/1 Barrel
54.25$US/1 Barrel
59.25$US/1 Barrel
60.75$US/1 Barrel
485.00$US/MT
378.00$US/MT
705.00$US/MT
585.00$US/MT
508.00$US/MT
467.00$US/MT
368.00$US/MT
395.25$US/MT
678.00$US/MT
832.75$US/MT
SEATTLE (Scrap Monster): The Nigerian Dangote refinery- the world’s largest single-train refinery announced that it has commenced test runs for production of Premium Motor Spirit (PMS), commonly known as petrol. The refinery facility has been producing only diesel and other distilled fuels till date.
The refinery is expected to achieve full production and start distribution of petrol by September this year. It must be noted that the refinery has missed several previous deadlines, mainly due to difficulties in ensuring supply of crude oil. Initially, it had planned to begin petrol deliveries in May, which was later postponed to July and August. The recent note released by industry monitor IIR Energy said that it is possible that there could be further extensions.
According to Dr Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service, the initial PMS delivery from the refinery is expected next month under existing agreements.
The 650,000-barrel-per-day refinery will relieve the country from its over-dependence on imported refined products. Furthermore, it will provide big boost to the Europe-to-Africa fuel trade.
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