Dangote oil refinery latest news
Here are the latest news updates on the Dangote Oil Refinery:
Latest Update (March 2023): The Dangote Oil Refinery, located in Lagos, Nigeria, has reached a significant milestone in its construction. The refinery has completed the installation of its crude oil distillation unit, which is a critical component of the refinery's processing system. This achievement brings the refinery closer to its planned completion date, which is expected to be in the second half of 2023.
Previous Updates:
- February 2023: The Dangote Group, the parent company of the Dangote Oil Refinery, has announced that the refinery is expected to start production in the second half of 2023. The refinery is expected to have a capacity to process 650,000 barrels of crude oil per day, making it one of the largest refineries in Africa.
- January 2023: The Dangote Oil Refinery has completed the installation of its crude oil storage tanks, which have a total capacity of 1.4 million barrels. The tanks are designed to store crude oil and petroleum products, including gasoline, diesel, and jet fuel.
- December 2022: The refinery has completed the installation of its hydrotreater unit, which is used to remove impurities from petroleum products. The hydrotreater unit is a critical component of the refinery's processing system, as it helps to produce high-quality petroleum products.
- November 2022: The Dangote Group has announced that it has secured a $1.5 billion loan from a consortium of banks to finance the construction of the Dangote Oil Refinery. The loan is part of a larger financing package that includes a $3.3 billion loan from the Nigerian government.
Background:
The Dangote Oil Refinery is a $12 billion project that is being built by the Dangote Group, a Nigerian conglomerate founded by Aliko Dangote. The refinery is located in the Lekki Free Trade Zone in Lagos, Nigeria, and is expected to have a capacity to process 650,000 barrels of crude oil per day. The refinery is designed to produce a range of petroleum products, including gasoline, diesel, jet fuel, and liquefied petroleum gas (LPG). The project is expected to create thousands of jobs and help to reduce Nigeria's reliance on imported petroleum products.
Challenges:
Despite the progress made on the project, the Dangote Oil Refinery has faced several challenges, including delays in the delivery of equipment and materials, as well as issues with the construction of the refinery's storage tanks. The project has also faced criticism from some environmental groups, who have expressed concerns about the potential impact of the refinery on the local environment.
I hope this information is helpful!