Dangote Refinery Announces Another Major Feat After Exporting Fuel to Saudi Arabia
- The giant Dangote Refinery has announced that it reached the PMS production capacity of 33 million litres per day
- The refinery said it is also now processing about 550,000 barrels per day as it moves to ramp up production
- The latest milestone positions the refinery as a major global energy producer and exporter
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Dangote Refinery has reached a peak production capacity of 33 million litres of petrol daily as it reached 550,000 barrels per day production.
The achievement proves that the facility has reached optimal production capacity. However, it is about 100,000 barrels per day short of reaching full capacity.
Source: UGC
Dangote Refinery moves to ramp up production
The company had said it hopes to achieve its installed production capacity of 650,000 bpd-capacity in June this year.
The new milestones were announced at the refinery’s control room when the directors of the Nigerian Economic Summit Group (NESG) visited.
BusinessDay reports that Nigeria’s current daily PMS domestic consumption is around 33 million litres.
Experts say with the new milestone, Nigeria is on its way to reaching energy sufficiency.
The NESG directors also understood that the Mild Hydrocracking unit of the facility has attained 120% height, while the Continous Catalytic Reforming Unit (CCRU) has achieved 90% peak performance.
While the MHC is designed to boost yield, the CCRU is responsible for processing heavy naphtha from crude.
Dangote Refinery exports fuel to Saudi Arabia
Legit.ng previously reported that the mega refinery exported two consignments of jet fuel to Saudi Aramco, the world’s biggest energy company valued at $1.19 trillion.
The export establishes the refinery as a leader in the global energy business.
It also positioned Nigeria as a major exporter of refined petroleum products after several years of import dependence, which gulped trillions of scarce FX.
The NESG Chairman, Niyi Yusuf, said Nigeria's quest to expand investment flows would be done if the government focused on providing incentives for local investors.
Dangote laments the loss of jobs to imports
Chairman of the Dangote Group, Aliko Dangote, stressed the importance of the private sector in national development, stating that Nigeria’s problems could be surmounted by creating jobs.
Dangote said that the free market concept should not be used as an excuse to continue to import petroleum products, saying that big economies protect their domestic industries to save jobs.
He said cement imports are restricted in Benin Republic to protect local industries, despite its proximity to the Dangote Cement’s Ibese plant.
Dangote to import 11 million barrels of crude from the US
Legit.ng earlier reported that Amid the challenges of crude oil production in Nigeria, Dangote announced plans to purchase an additional 11 million barrels of crude oil from the US.
The refinery, expected to roll out petrol across Nigeria this month, has found it necessary to augment domestic supply with imports to meet its operational needs.
According to a tender, the refinery bought five million barrels of West Texas Intermediate (WTI) Midland crude for delivery in August and September.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
