New Report Ranks Dangote Refinery Higher Than 10 Biggest Refineries in Europe
- The Dangote refinery has been ranked among the best in the world, surpassing major European refineries
- Completed in 2023, the Dangote refinery is expected to meet all of Nigeria's refining needs and also export its products
- Already, the refinery has released its first products, including diesel and aviation fuel, and the impact is already being felt
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Dangote refinery's capacity has been ranked as one of the biggest in the world, including the ten biggest refineries in Europe.
The $20 billion Dangote refinery located in Lagos state can refine 650,000 barrels of petroleum products per day.
Source: Getty Images
Dangote refinery ranks high
Bloomberg reports that the Dangote Refinery's capacity is larger than that of the ten largest refineries in Europe.
It noted that Dangote Refinery has over 246,00bpd capacity more than Shell's Pernis refinery located in the Netherlands, Punch reports.
Here is a breakdown of Europe's refinery capacity
- Shell Pernis Refinery, Netherlands - Capacity: 404,000 bpd (largest in Europe)
- BP Rotterdam Refinery, Netherlands - Capacity: 380,000 bpd
- GOI Energy ISAB Refinery, Italy - Capacity: 360,000 bpd
- TotalEnergies Antwerp Refinery, Belgium - Capacity: 338,000 bpd
- Orlen Plock Refinery, Poland - Capacity: 327,000 bpd
- Shell Rheinland Refinery, Germany - Capacity: 327,000 bpd
- Miro Refinery, Germany - Capacity: 310,000 bpd
- ExxonMobil Antwerp Refinery, Belgium - Capacity: 307,000 bpd
- Saras Sarroch Refinery, Italy - Capacity: 300,000 bpd
- ExxonMobil Fawley Refinery, England - Capacity: 270,000 bpd
Dangote Refinery a game changer
The Bloomberg report further described the Dangote refinery as a 'game changer'.
An oil expert, Alan Gelder, told Bloomberg.
“Dangote is going to influence Atlantic Basin gasoline markets this summer and for the rest of the year."
Tinubu reacts to reduced diesel prices
Earlier, Legit.ng reported that President Bola Tinubu commended Dangote Oil and Gas Limited for slashing the price of Automotive Gas Oil (AGO), also known as diesel, from N1200 to N1000.
The reduction was effected after the initial decrease from N1,650 to N1200 about three months ago.
Tinubu said the price review, which represents a 60% drop, would impact the prices of various goods and services.
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Source: Legit.ng
