Major Boost for Dangote Refinery as 5th Crude Oil Cargo Arrives, Gears Up for 6th Shipment
- The Dangote Refinery is moving into full operation as it receives another shipment of one million barrels of crude oil from NNPC Limited
- This follows the earlier reception of four previous deliveries of the same amount of crude oil in the last few weeks
- The refinery is already gearing up for the arrival of the sixth one million-barrel crude oil shipment scheduled for next week
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.
The Dangote Petroleum Refinery has received its fifth delivery of crude oil, comprising one million barrels of Bonny Light, sourced from the Nigerian National Petroleum Corporation Limited.
The product arrived at the Single Point Mooring (SPM)-C2 Dangote Offshore Oil Terminal on Thursday, January 6, 2024, and has already been discharged to the refinery's crude oil tanks.
This noteworthy progress marks a crucial milestone for the refinery, signalling its imminent commencement of operations.
Source: UGC
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Dangote Refinery expects sixth supply next week
In recent weeks, Dangote Refinery has received one million barrels of crude on four separate occasions, totalling an aggregate of four million barrels.
The latest consignment marks the fifth delivery as the refinery gears up for the arrival of the sixth one million-barrel crude oil shipment scheduled for next week.
This action is in accordance with the directive issued by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to oil companies operating in Nigeria.
The directive instructs these companies to prioritise the supply of crude oil to local refineries for the next six months, commencing from January 2024.
According to Leadership, a statement from Dangote Refinery partly reads:
‘’The crude oil cargo being the fifth consignment to be delivered to the Dangote Petroleum Refinery facility out of the six million barrels of crude being expected, arrived at the Single Point Mooring (SPM)-C2 Dangote Offshore Oil Terminal on Thursday, and has already been discharged to the refinery’s crude oil tanks.’’
This recent development is anticipated to play a crucial role in addressing the fuel supply challenges confronted by both Nigeria and other West African nations.
Dangote Refinery to meet 100% of Nigeria's refined products requirement
The Dangote Petroleum Refinery, with a daily processing capacity of 650,000 barrels, is equipped to handle different ranges of crude from various countries.
Notably, the refinery is positioned to fulfil 100% of Nigeria's demand for refined products, including gasoline, kerosene, diesel and aviation jet fuel, with a surplus available for export.
Additionally, the refinery boasts the capability to load 2,900 trucks per day through its truck-loading gantries.
Dangote Refinery holds potentials for Nigeria
Speaking on the impact of the Dangote Refinery on Nigeria's economy, Uyime Udoh, an Energy analyst, told Legit.ng that the refinery will play an important role in reducing Nigeria's dependence on imported refined petroleum products.
He said:
This not only enhances the country's energy security but also contributes to savings in foreign exchange. Additionally, the refinery has the potential to generate employment opportunities, stimulate local industries, and boost overall economic growth.
He, however, added that challenges such as project delays and infrastructure requirements need to be addressed for the refinery to achieve its full potential.
Otedola shares impressive features of Dangote Refinery
In related news, Legit.ng reported that Nigerian billionaire Femi Oteloda conveyed his admiration for Aliko Dangote in light of the completion of the Dangote Refinery.
Otedola lauded the refinery, citing it as a testament to visionary leadership and an unwavering commitment to excellence.
Otedola shared his sentiments on the X app, commenting on the inaugural delivery of one million barrels of Agbami crude grade to the refinery on Thursday, December 7, 2023.
In acknowledging this achievement, Otedola congratulated Dangote, the Chief Executive Officer of the Dangote Group, hailing the refinery as nothing short of the 8th wonder of the world.
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Source: Legit.ng
