Dangote refinery to start promoting petrol to native entrepreneurs by August — Report
Dangote Refinery is ramping up production for the availability of Premium Motor Spirit (PMS), generally generally known as petrol, this month as gross sales of product is anticipated to flow into the native market in August.
That is contained within the firm’s projection report seen by Nairametrics on Sunday.
The report signifies that the refinery will begin producing PMS this month, with gross sales to native distributors commencing in August.
Initially, the $19 billion refinery will function at 500,000 barrels per day (bpd), equating to about 15 cargoes month-to-month. It goals to succeed in its full capability of 650,000 bpd by the primary quarter of 2025.
“Profitable completion of trial run in January 2024.
“Refined and intermediate merchandise embody polypropylene, naphtha, RCO, gasoline, diesel, and jet gas.
“Regular state production section commenced in March 2024.
“Ramping up production to succeed in 500kbpd (15 crude cargoes a month) by subsequent Aug, 550kbpd by finish of the yr, and 650kbpd by Q1 2025
“Gasoline production to start in July with gross sales from August,” the report reveals.
600 million liters reserves of petrol capability
Moreover, the report reveals that the refinery has a reserve capability of 600 million liters of petrol, making it one of many largest on the earth.
The refinery additionally has a possible capability of 340 million for diesel and a 480 million for jet gas.
In sum, the refinery has a reserve capability of 4.74 billion liters of petroleum merchandise, making it a secondary nationwide reserve.
Nairametrics beforehand reported that when the Dangote refinery reaches full operational capability, it is going to provide petroleum merchandise to quite a few African nations, in addition to Brazil and the Caribbean.
With its immense capability, the refinery won’t solely make Nigeria self-sufficient in vitality but additionally problem the European gas import market in Africa.
What you need to know
- The Dangote refinery which commenced production of diesel and jet gas in March is now anticipated to start producing PMS this month.
- In an earlier assertion, the CEO of the oil agency, Aliko Dangote, stated the production date for gas was moved from June to center of July resulting from a slight delay in production.
- “We had a little bit of delay, however PMS will begin popping out by 10 to fifteen of July. However then we wish to hold it in tank to ensure that it settles. So by third week of July, we’ll have the ability popping out to take it into the market,” Dangote stated.
- Analysts imagine that the $19 billion refinery is anticipated to considerably cut back Nigeria’s dependence on imported petroleum merchandise.
- By bolstering home production capability, Nigeria can probably obtain higher vitality safety and cut back its reliance on pricey imports.
