Dangote Refinery Sets New Date For Petrol Production as Marketers Project New Price …C0NTINUE READING HERE >>>
The Dangote Refinery has pushed back petrol production from the facility due to crude oil supply challengesThe facility initially set August 11 and 12 as the date to begin petrol productionSources say that the refinery is expecting to pump its first petrol into the Nigerian market at the end of August
Henzodaily.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Dangote Refinery has delayed its petrol production date again due to crude oil supply issues.
The refinery reportedly faces significant operational challenges, including sourcing crude oil for production, leading to imports from Brazil and the US.
The Chairman of the Dangote Group, Aliko Dangote
Credit: Bloomberg/Contributor
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NNPC and others fail to supply adequate crude
The 650,000 bpd-capacity refinery has battled to secure crude from the Nigerian National Petroleum Company Limited (NNPCL), which has engaged regulatory authorities over inadequate crude supply.
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The facility was expected to reduce Nigeria’s fuel import and shortages.
However, delays in securing crude have become a critical blockade in the refinery’s plans to achieve petrol production.
The Chairman of the Dangote Group, Aliko Dangote, had hoped that the plant would begin refining petrol and set August 11 and 12, 2024 as the date Nigerians should expect petrol from the facility.
A previous report by Henzodaily.ng disclosed that Dangote might sell the 12.5% stake in the refinery to new investors, underscoring the project’s financial challenges.
Dangote engages NMDPRA on sulphur content
According to reports, despite these challenges, sources say petrol production should begin by the end of August 2024.
Legit. ng’s efforts to speak with Dangote Group’s spokesman, Anthony Chijiene, were unsuccessful. He did not reply to messages sent to his phone seeking clarification.
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The $19 billion facility has faced numerous challenges, including allegations by the Nigeria Midstream and Downstream Regulatory Commission (NMDPRA) of lacing its diesel with high sulphur, which the refinery denied.
Experts say stakeholders eagerly expect the refinery’s first petrol sale, easing Nigeria’s supply headaches.
Marketers Finally Set Petrol Prices from Dangote Refinery
Henzodaily.ng earlier reported that Independent petroleum marketers in Nigeria hope that the Dangote Petroleum Refinery will sell its petrol at N600 per litre when it launches it into the Nigerian market.
The marketers under the Independent Petroleum Marketers Association of Nigeria (IPMAN) said they believe that the 650,000-capacity refinery would crash the price of petrol like it with diesel.
IPMAN national vice president Hammed Fashola disclosed on Monday, August 12, 2024, that the facility would reduce its fuel cost if it received the needed support regarding crude oil supply.
Source: Henzodaily.ng
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