{"id":77399,"date":"2023-11-13T14:39:49","date_gmt":"2023-11-13T13:39:49","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=77399"},"modified":"2023-11-13T14:39:49","modified_gmt":"2023-11-13T13:39:49","slug":"dangote-refinery-secures-licence-to-refine-300000bpd-crude","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-refinery-secures-licence-to-refine-300000bpd-crude\/","title":{"rendered":"Dangote Refinery Secures Licence To Refine 300,000bpd Crude"},"content":{"rendered":"
\n

Africa\u2019s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.<\/p>\n<\/div>\n

\u201cWe don\u2019t want to start our refinery with foreign goods, we want to start with the Nigerian crude,\u201d Dangote said in an interview in Riyadh on the sidelines of the Saudi-Nigeria business roundtable, according to Bloomberg.<\/p>\n

\u201cWe\u2019re more than ready and you will see our gasoline products soon,\u201d he added.<\/p>\n

The refinery was supposed to start production in August but missed that target in addition to several other over the years. But Dangote insists that his refinery will start producing \u201cvery very soon.\u201d<\/p>\n

The refinery\u2019s first priority is to supply gasoline to Nigeria before exporting to elsewhere, including the West African region, he said.<\/p>\n

It was reported earlier that, the Dangote Petroleum Refinery was importing crude oil and expected its first cargo in about two weeks, according to the Executive Director, Dangote Group, Devakumar Edwin.<\/p>\n

The report stated that though the Nigerian National Petroleum Company Limited trades crude oil on behalf of Nigeria, in an interview with S&P Global Commodity Insights at the time, Edwin revealed that the NNPCL had committed its crude to other entities.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Dangote refinery boss did not disclose the other entities receiving the oil company\u2019s crude, but the NNPCL had earlier disclosed in August that it had entered into a $3bn crude oil-for-loan deal with African Export-Import Bank.<\/p>\n

The 650,000 barrel-a-day facility, which is expected to produce 27 million litres of diesel, 11 million litres of kerosene and nine million litres of jet fuel, will receive crude from other producers in Nigeria, as well as the country\u2019s state oil company, said Dangote, whose fortune estimated at $16.2bn by the Bloomberg Billionaires Index.<\/p>\n

Nigeria increased its oil output by 60,000 barrels per day last month, reaching 1.49 million barrels per day \u2014 the highest in almost two years.<\/p>\n

The West African nation has launched a new grade of crude called Nembe through a joint venture, as the nation ramps up its oil output.<\/p>\n

The Nembe crude stream is expected to be managed and marketed by a joint venture between state-owned Nigerian National Petroleum Company (NNPC) and oil firm Aiteo Eastern E&P Co. Ltd.<\/p>\n

Crude theft and attacks on pipelines in the Niger Delta have crippled the OPEC member\u2019s ability to meet its quota, meaning that the Nigerian government has been struggling to meet its revenue targets.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa\u2019s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.<\/p>\n","protected":false},"author":6,"featured_media":77400,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[5085],"coauthors":[2391],"class_list":["post-77399","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-dangote-refinery"],"yoast_head":"\nDangote Refinery Secures Licence To Refine 300,000bpd Crude - National Wire<\/title>\n<meta name=\"description\" content=\"Africa\u2019s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-refinery-secures-licence-to-refine-300000bpd-crude\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Refinery Secures Licence To Refine 300,000bpd Crude - 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