Dangote Announces New Date For Refinery Take-off

 

A new date has been announced for the commencement of operations of the Dangote refinery.

According to the company’s Group Executive Director, Strategy, Capital Projects and Portfolio Development, Mr. Edwin Devakumar, the 650,000BPD refinery project which has been under construction for a number of years now will be completed by the end of December.

Mr. Edwin made the disclosure in Abuja on Wednesday while delivering a corporate keynote address at the Nigeria International Petroleum Summit (NIPS) assured Nigerians that the project would be completed in December.

The refinery located at Ibeju Lekki, Lagos is expected to be a major boost towards Nigeria’s  crude oil self sufficiency.

“The project has incurred some delays due to the COVID-19 pandemic.

“As at date, the project construction has progressed to 79 per cent and an overall project completion of 89.50 per cent, considering engineering, procurement and construction.

“At the current rate of progress the mechanical completion is now expected to be accomplished by fourth quarter. Commissioning is expected to commence immediately.”

According to him, the $12 billion refinery is expected to process a variety of light and medium grades of crude to produce Euro-V quality clean fuels.

He said the refinery would also produce 10.4 million tonnes (Mt) of gasoline, 4.6Mt of diesel, and 4Mt of jet fuel a year.

“It will also produce 0.69Mt of polypropylene, 0.24Mt of propane, 32,000t of Sulphur, and 0.5Mt of carbon black feed annually,” Devakumar added.

Devakumar said the refinery would create thousands of direct and indirect jobs for Nigerians and increase the country’s Gross Domestic Product.

He said it would also save the country the foreign exchange expended on importation of petroleum products and guarantee product availability in the market.

Devakumar said apart from the Nigerian market, the refinery would be exporting refined petroleum products to Europe and South America as part of its business