More
    HomeBusinessDangote Refinery set to process 100% local crude

    Dangote Refinery set to process 100% local crude

    Published on

    Dangote Industries Limited is poised to rely entirely on Nigerian crude oil by the end of 2025, potentially displacing hundreds of thousands of barrels of imported crude daily.

    This is revealed by the latest report by Bloomberg.

    According to Bloomberg, the refinery received about half of its crude in June from local producers who will be able to sell more to the facility as their foreign supply obligations end.

    “We expect some of the long-term contracts will expire,” vice president at Dangote Industries, Devakumar Edwin said in an interview last week at the sprawling site. “Personally, and as a company, we expect that before the end of the year we can transition 100% to local crude.”

    Dangote sold the idea of the massive plant as a way for Nigeria, the top oil producer on the continent, to stop sending barrels to Europe only to be refined and shipped back as costly imports — a process rife with corruption.

    The gradual ramp-up of the refinery has already made Nigeria a net exporter of petroleum products, with room to go before reaching capacity. Still, the effort required large quantities of overseas crude after domestic traders failed to meet demand.

    Nigeria has seen a withdrawal of oil majors from onshore and shallow water fields that have been taken over by local companies with fewer resources.

    Meanwhile, supply contracts with foreign companies, crude theft and attacks on pipelines in the Niger Delta have curbed production reducing the availability of oil at home.

    Dangote refinery operates a 650,000-barrel-per-day refinery, the largest in Africa.

    Latest articles

    Oborevwori’s Brother Allegedly Attacks Coach in ₦200,000 Debt Dispute

    Governor Sheriff Oborevwori’s younger brother, Onoriode Oborevwori, has reportedly assaulted the Delta State Head...

    Seven Ministers, Other Appointees May Quit As Tinubu Orders Resignations

    There are indications that at least seven ministers and several political appointees may soon...

    Zulum Seeks Forgiveness For Shortcomings Of His Govt

    Borno State Governor, Professor Babagana Zulum, has reaffirmed his loyalty to Vice President Kashim...

    Why I was ashamed having child out of wedlock – Bisola Aiyeola

    Nigerian reality star and actress, Bisola Aiyeola has opened up about her initial psychological...

    More like this

    Oborevwori’s Brother Allegedly Attacks Coach in ₦200,000 Debt Dispute

    Governor Sheriff Oborevwori’s younger brother, Onoriode Oborevwori, has reportedly assaulted the Delta State Head...

    Seven Ministers, Other Appointees May Quit As Tinubu Orders Resignations

    There are indications that at least seven ministers and several political appointees may soon...

    Zulum Seeks Forgiveness For Shortcomings Of His Govt

    Borno State Governor, Professor Babagana Zulum, has reaffirmed his loyalty to Vice President Kashim...