Petroleum Africa
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Monday, July 9, 2018
Aliko Dangote, head of the Dangote Group, plans to start selling gasoline, diesel and aviation fuel by early 2020 from the mega oil refining complex his company is constructing near the Nigerian city of Lagos.
The $10 billion, 650,000 bpd refinery should be near full capacity by mid-2020, Edwin Devakumar, group executive director at Dangote Industries Ltd. said in a Bloomberg interview.
“People still have difficulty believing we can do it on time and within those costs,” Devakumar said in the interview. “But we believe we can. It’s something of the size that’s rarely been done before. It’s huge.”
The facility is expected to produce around 50 million liters per day of gasoline and 15 million liters of diesel. Nigeria’s domestic demand for gasoline is currently around 35 million, Dangote plans to export the surplus production.
The company has been in talks with oil traders including Royal Dutch Shell Plc, Vitol Group and Trafigura Group Pte about them supplying crude and buying refined products, according to Devakumar.
“We are establishing a rapport with them, but there’s been nothing specific so far,” he said.
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