The management of Dangote Group has ruled out 2020 as the commencement date for the operations of its refinery, saying it won’t be feasible until mid 2021.
The organisation said this at weekend by announcing that its refinery would be commissioned by the end of first half in 2021.
The Group Executive Director, Dangote Group, Mr. Devakumar Edwin, hinted that the facility would meet 100 per cent need of the country and export balance after being commissioned.
He buttressed that once its commissioned and production kicks off, the refinery will be able to process 650,000 barrels of crude oil per day into refined petroleum products.
Edwin further explained the move will help the country become an oil refining nation and exporter due to the dilapidated condition of Nigeria’s refineries.
He also added that the capacity of the Dangote Refinery would abolish fuel importation from other regions into Nigeria.
Edwin also noted that the refinery would not be involved in the Nigerian National Petroleum Corporation (NNPC) crude-for-fuel swap deal.
According to him; “we are going to buy the crude just at the export price and will sell our products at the import price, the crude swap is operating only for the importers of the product”.
Edwin pointed out that the organisation’s strategy is to transport the refined petroleum products by road and through the seaports when it resumes operation.
He further maintained that the fuel produced by the refinery would also be delivered by shuttle boats to Warri and Calabar while others would be done by trucks.
Edwin, however, stressed the firm also has interests in Europe and Latin America markets, stating that these markets would have diesel, gasoline and other fuels delivered to them accordingly.
He posited that the diesel is expected to meet winter standard in Europe, with high quality, which would make it suitable for any market.
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