The refinery, Africa’s largest, was built on a Peninsula in the capital of the commercial capital Lagos at a cost of US$20 billion by the continent’s richest man, Aliko Dangote. The giant refinery could bring an end to decades of petrol imports from Europe to Africa worth $17 billion a year. The refinery started producing in January and can refine up to 650,000 barrels per day (bpd) and will be the largest in Africa and Europe when it reaches full capacity in 2024 or 2025. It has long been touted as the turning point for Nigeria’s quest for energy independence. Nigeria is Africa’s most populous nation and its top oil producer, yet it imports all its fuel due to a lack of refining capacity. The country’s state-owned refineries are all dysfunctional.
The refinery started supplying petroleum products to the local market in early April, fuelling optimism that the country’s quest for energy independence was about to be fulfilled. But it has struggled to get sufficient supplies from Nigeria, where vandalism and low investment impede oil production.
In a statement issued in August, Dangote Refinery accused the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the industry regulator, of failing to enforce the Domestic Crude Supply Obligation (DCSO), a provision that requires crude oil producers to supply domestic refineries with a portion of their production.
“The NUPRC is pushing, but the international oil companies are not following their instructions,” said Anthony Chijiena, a Dangote Refinery spokesman in the statement. “Consequently, we often purchase the same Nigerian crude from international traders at an additional $3-$4 premium per barrel which translates to $3 -$4 million per cargo,’ he stated. This has raised its operational costs.
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Denne historien er fra August 2024-utgaven av Offshore Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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