The largest oil refinery in Africa begins production in the third...

The Dangote refinery begins in Nigeria, which is largest oil refinery In Africa, crude oil will be processed in the third quarter of this year.

The refinery’s mechanical work has been completed, said the refinery’s owner, Nigerian billionaire Aliko Dangote – who is the richest man in Africa – adding, “We hope to be in the market before the end of the third quarter.”

He explained that the refinery will start operating with a processing capacity of 540 thousand barrels per day, and full production can start by the end of this year or the beginning of next 2023, according to Bloomberg American.

Dangote Refinery Capabilities

Dangote refinery in Nigeria

The production capacity of the refinery is Dangote The new giant 650,000 barrels per day, whose construction cost about 19 billion dollars, and its production will be more than enough to meet Nigeria’s fuel needs, and transform Africa’s largest producer of crude into an exporter of refined crude.

According to the Bloomberg Rich List, billionaire Aliko Dangote’s fortune is worth $20.4 billion, pointing out that his main investments were in the cement field, before turning to crude oil production by building the Dangote refinery.

Dangote Project Details

Dangote Group launched the project to build the largest oil refinery in Africa in 2016. The refinery is located in Ibigo Lekki, Lagos State.

The CEO of the company, Aliko Dangote, described the project as an integrated project, which is expected to become the largest oil refinery in Africa and the largest single production facility in the world when completed.

Nigeria is Africa’s largest oil producer and exporter, and is largely dependent on fuel imports, although it has refineries in various parts of the country that have been neglected for decades.

Read also..

Subscribe to the newsletter to receive the most important energy news.

These were the details of the news The largest oil refinery in Africa begins production in the third... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Nearly all Gazans in poverty, Palestinian Authority facing ‘imminent fiscal collapse’ - World Bank
NEXT Saudi Arabia’s open banking strategy a game-changer

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]