Bloomberg’s latest rankings have placed the Dangote Refinery on a pedestal above Europe’s top 10 largest refineries, signaling a significant milestone for Africa’s burgeoning energy sector.
Nestled along the Lekki-Epe Expressway in Lagos State, Nigeria, the $20 billion Dangote Refinery boasts a formidable capacity to refine 650,000 barrels of petroleum products daily. This capacity surpasses that of many esteemed European refineries, including Shell’s Pernis Refinery in the Netherlands, which stands at 404,000 barrels per day.
The report highlights other European giants such as the BP Rotterdam Refinery in the Netherlands, with a capacity of 380,000 barrels per day, and the GOI Energy ISAB Refinery in Italy, boasting 360,000 barrels per day.
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Bloomberg’s assessment underscores the Dangote Refinery’s role as a ‘game changer,’ leveraging cost-effective US oil imports for a significant portion of its feedstock. As the refinery gears up, it has already commenced product shipments and is poised to revolutionize Nigeria’s fuel market and beyond.
Industry experts anticipate the refinery’s impact on Atlantic Basin gasoline markets, with projections indicating operational efficiency at around 300,000 barrels per day, nearing half of its total capacity. With the commencement of jet fuel, diesel, and naphtha shipments, the refinery is set to diversify its product portfolio, solidifying its position as a pivotal player in the global energy landscape.
