Dangote Refinery Launches New Petrol Grade, Suitable For European Market, Speaks on Pricing
- The Dangote Refinery has proudly released a new petrol grade, the Euro 5 grade, with low sulphur content
- The Euro-V petrol contains a maximum sulphur content limit of 10 ppm, compared to Euro 2, which has about 50 times more sulphur content
- The refinery management disclosed that the petrol grade is less harmful to the environment and the people
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Aliko Dangote, president of Dangote Industries Limited, has said that with the rollout of the PMS from the Dangote Petroleum Refinery, Nigerians will understand their fuel consumption for the first time.
The petrol production from the 650,000bpd-capacity refinery comes 28 years after Africa’s largest oil producer stopped PMS production from its three moribund refineries.
Source: Getty Images
New grade to improve health and the environment
Dangote stated that the new petrol would improve everyone's health and ensure that Nigerians know there is a consistent supply to the market.
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The Nigerian billionaire said that petrol will also correct the distortion of the naira, bringing stability to the local currency, development, and prosperity.
According to Vortex data, Dangote’s petrol production will impact billions of dollars of trade in regional fuel markets. Nigeria is a global fuel market, receiving almost 250,000 barrels daily in shipments in 2023, mainly from Europe.
What Euro-V petrol is
Edwin Devakumar, Executive Vice President of Oil and Gas at Dangote Industries, said that every Nigerian and African is proud of the petrol produced at the refinery.
Devakumar said that the petrol from the refinery meets global standards and is a Euro 5 grade with a maximum sulphur content limit of 10 ppm, compared to Euro 2, which has about 50 times more sulphur content.
He stated that lower sulphur content means less toxic emissions are released into the atmosphere, making the fuel cleaner and better for the environment and people.
He said.
“You can see the diesel because I’m sure most Nigerians have never seen this diesel colour. But this is what you call Euro-five diesel, which is less than 10 ppm, sulphur-wise,” Dangote said.
According to Leadership, Devakumar said the petrol will help engines, vehicles, generators, people's health, and the environment.
Dangote refinery debunks price fixing
The development comes as the Dangote Refinery issued a statement debunking reports that the Nigerian National Petroleum Company Limited (NNPC) has begun product lifting at its facility.
The company revealed this in a statement signed by Anthony Chiejine, the company’s Group Chief Branding and Communications Officer.
NNPC has not fixed prices of Dangote petrol
According to the statement, the NNPC has yet to commence product lifting at the refinery, let alone setting a price, stating that the PMS market is heavily regulated.
The refinery stated that it cannot determine, fix, or influence the product price, which falls under the purview of relevant government agencies.
The statement partly reads:
“We would like to state that NNPC has not commenced lifting refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery.
“Therefore, the issue of fixing the price of petrol lifted from our refinery has not arisen, as we have yet to finalise our contract with NNPC.
Dangote refinery speaks on the colour of petrol, causing buzz
Legit.ng earlier reported that the Dangote Refinery had finally fulfilled its promise of releasing petrol into the Nigerian market.
The 650,000 bpd-capacity refinery launched the petrol into the Nigerian market on Tuesday, September 3, 2024, amid high expectations from Nigerians suffering from acute scarcity in the past month.
The rollout of Dangote was a milestone for Africa’s largest oil producer, which had not produced petrol in the last 28 years.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
