Petrol to gulp 53% of Dangote Refinery’s daily production

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The President/Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, said on Wednesday that petrol  otherwise known as Premium Motor Spirit (PMS) would gulp at least 53% of Dangote Refinery’s total daily production.

Dangote disclosed this during a visit to the Nigerian National Petroleum Corporation (NNPC) headquarters in Abuja.

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In a statement issued by NNPC’s Group General Manager, Group Public Affairs Division, Ndu Ughamadu, Dangote was quoted  as saying that the group is not in competition with the Corporation  as the Dangote Refinery looks forward to production of 650,000 barrels of crude oil per day (bpd), while NNPC’s consolidated four refineries produce 445,000 bpd.

What this news mean: The 53% daily production of petroleum translates to 344,500 barrels of its projected 650,000 bpd refining capacity.

Prior to this development, as work is ongoing to meet the 2020 date set for commencement of Dangote Refinery production, China Petroleum & Chemical Corporation said it had shipped a piece of vital equipment to be installed at the refinery.

According to the company,  also known as Sinopec Corporation, the equipment, ‘atmospheric tower’, is the world’s largest. The Chinese oil and gas company based in Beijing, China, didn’t reveal when the equipment is expected to reach Nigeria.

 

READ ALSO: Nigeria’s crude oil output exceeds benchmark as daily production hit 2.323 million barrels

The Dangote Refinery when completed will be the largest in Africa. It is expected to produce an average of 650,000 barrels per day.

According to Dangote, the refinery which would cost between $12 and $14 billion will be completed in 2019, with the commencement of production slated for 2020.