The Dangote Petroleum Refinery has increased its daily production to 85% of its 650,000 barrels per day capacity and aims to reach full capacity within the next month. The refinery is currently running at 552,500 barrels per day without disclosing the source of its crude oil due to limited supply from Nigeria.
Devakumar Edwin, the Vice President of Dangote Industries, mentioned plans to achieve full capacity in the coming 30 days. This progress indicates the refinery’s commitment to reducing fuel imports in Nigeria and Africa.
Aliko Dangote’s refinery in Lagos started processing crude into various products since January last year, including diesel, naphtha, and jet fuel. Despite facing challenges in sourcing enough crude locally, the refinery is competing with European refiners and disrupting the European petroleum market.
The Nigerian Upstream Petroleum Regulatory Commission stated that the refinery would need up to 550,000 barrels per day of crude from local producers from January to June. The refinery is also exploring new markets for its refined products, with plans to expand production capacity leading to an increased output of refined products. However, the impact on fuel prices and the refinery’s crude oil procurement plans remain uncertain at this stage.