Dangote Petroleum Refinery, owned by Africa’s richest man, Aliko Dangote, announced on Monday that it had received its fourth shipment of one (1) million barrels of the bonny light crude oil, which was supplied and supervised by the Nigeria National Petroleum Corporation Limited (NNPCL).
The firm, valued at $20 billion, said it is expecting its fifth crude shipment at any moment.
The company had received three shipments of crude oil earlier. Officials from the refinery said that Dangote Petroleum Refinery would start producing refined Automotive Gas Oil, also known as diesel, and aviation fuel, or JetA1, this month.
In the statement released on Monday, the company said, “The fresh one million barrels of crude was the fourth consignment to be delivered to the Dangote facility out of the six million barrels of crude being expected by the world’s largest single-train refinery.”
However, it was reported by Akin Omole, managing director of Dangote Ports Operations, that the $20 billion firm would receive four million crude oil shipments before 2023 closes. He announced this to journalists at the Dangote Quay, Ibeju-Lekki, Lagos State.
Omole said that the Dangote refinery will get the remaining two million barrels from the NNPCL in January 2024, which will kick off production at the firm. The supply of crude oil to the Dangote Petroleum Refinery by the NNPCL is due to the contract signed between the two firms. It is said that NNPCL will have a 20% stake in revenue from the Dangote Petroleum Refinery.
He further stated that once the refinery can achieve the six million barrels from the Nigeria National Petroleum Corporation Limited (NNPCL), it will help speed the production of diesel, aviation fuel, and Liquefied Petroleum Gas before progressing to the production of Premium Motor Spirit, popularly called petrol.
Dangote refinery is expected to produce 650,000 barrels per day and is predicted to meet 100% of Nigeria’s requirement for all refined petroleum products, including petrol, diesel, kerosene, and jet fuel. It also has a surplus of each of these products for export.
Dangote Refinery has a self-sufficient marine facility that can handle the largest global vessel from which it has been receiving crude oil shipments.
Read more: https://www.investingport.com/dango...-receives-its-fourth-shipment-from-the-nnpcl/