Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,571,892 members, 5,953,925 topics. Date: Saturday, 31 October 2020 at 02:44 AM

Dangote Refinery, Others Threaten Existing Plants – OPEC - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Dangote Refinery, Others Threaten Existing Plants – OPEC (27483 Views)

Nigeria Earned $206bn From Oil In Five Years – OPEC / Nigeria Joins OPEC To Cut Crude Oil Production / 10 Governors Visit Dangote Refinery, Say It’s A Pride To Nigeria (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Dangote Refinery, Others Threaten Existing Plants – OPEC by Islie: 10:26am On Oct 13
New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on the continent, the Organisation of the Petroleum Exporting Countries has said.

OPEC, in its newly released 2020 World Oil Outlook, estimated refining capacity additions between 2020 and 2025 at around 5.2 million barrels per day based on the review of announced and planned refinery projects.

“Significant capacity additions are also expected in Africa in the medium-term period. Additions of new refining capacity are clearly in line with oil demand growth expectations, which show positive trends in most developing countries,” it said.

According to the report, the additions expected in Africa total around 0.8 million bpd or 15 per cent of the global volume.

It said, “The largest project expected to come online is the Dangote refinery in Nigeria in 2022, as well as several smaller projects in Egypt and Algeria.

“This significant increase in refining capacity is somewhat larger than incremental demand in the medium-term and could help to reduce product imports, especially in West Africa.”

According to OPEC, in Latin America and Africa, there are a number of old and inefficient refineries that have relatively low utilisation rates.

It said, “The new refining capacities, which are projected to come online in the medium to long-term, may increase pressure on these existing plants with two ways out – either closure or refurbishment.

“Both markets are expected to grow considerably, which would support refurbishment of older plants. However, due to the lack of financing and rising internal competition, some of these plants may be closed in the coming years.”

The oil cartel noted that the crisis caused by the outbreak of COVID-19 might lead to delays of some projects in this outlook, thus shifting commissioning dates from the first period towards the second half of the medium-term.

“Furthermore, the uncertainty is even higher for projects in the second half of the medium-term period. Consequently, it is possible that some projects expected to go online in the medium-term period may become operational only after 2025,” it added.

OPEC said the expected start-up of new refining capacity in Africa in the medium term could reduce exports from Europe to the continent.

Africa is projected to add 2.9 million bpd of distillation capacity by 2045, according to OPEC.

It said while the refining capacity additions in the medium-term are estimated at 0.8 million bpd, refinery additions in the period 2025–2030 are expected to be above 0.9 million bpd.

PUNCH

1 Like 1 Share

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Nbotee(m): 10:40am On Oct 13
The plants dat d govt have succeeded in making comatose

12 Likes 1 Share

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Yahksbiz(m): 10:50am On Oct 13
who is enemy sef

2 Likes

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by FarahAideed: 10:53am On Oct 13
I pray Dangote refinery doesn't turn into another Ajaokuta

19 Likes 2 Shares

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by 2by40ft: 10:54am On Oct 13
Still a good news for Dangote

20 Likes

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Racoon(m): 10:59am On Oct 13
Nothing new.Successive government policies have not helped the cause of government-owned refineries because of they do benefit from the putrifying corruption @ the NNPC, DPR.Imagine taking crude oil outside, refine same & sell back to Nigerians @ highly exorbitant prices. Of course, Dangote will become another sole proprietor again.

7 Likes 1 Share

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Abouwaza(m): 11:01am On Oct 13
There was never a refinery in the first place
You think Nigeria is ready to have a refinery?
Wetin our masters (US and UK) go chop?

25 Likes 1 Share

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by seanfer(m): 11:10am On Oct 13
FarahAideed:
I pray Dangote refinery doesn't turn into another Ajaokuta

This is a private business. It will surely not end like Ajaokuta.

55 Likes 2 Shares

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by gungab(m): 1:14pm On Oct 13
Common Meeeenh


Bring it on
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Amotolongbo(f): 1:14pm On Oct 13
Let’s wait and see

1 Like

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by vibbb: 1:15pm On Oct 13
What is the important of your decoration that is called Refinery; that process Zero crude.

Despite processing no crude oil in June this year, Nigeria’s three refineries still cost the country N10.23 billion in expenses.

#WhatAShame. Very soon there will be another nationwide peaceful protest against corruption via NNPC.


Dangote Refinery is a massive project and it's a plus for Nigeria and Africa Economy as a whole.

8 Likes 2 Shares

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Nonybb: 1:15pm On Oct 13
H
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by jericco1(m): 1:15pm On Oct 13
Let's see how it pans out.
Such projections are scary
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Enudapan: 1:16pm On Oct 13
Nah eh! No qualms
This is so unsophisticated

Dangote the man, the main odogwu

4 Likes

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by rejoice4eva(m): 1:18pm On Oct 13
When will the poor man be free?
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Dottore: 1:19pm On Oct 13
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Samfloxin(m): 1:19pm On Oct 13
The same story
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by Jeremiahgynag(m): 1:20pm On Oct 13
So OPEC countries (I'm looking at Saudi, and non-OPEC like Russia) that have been increasing their own capacity with no noise. Nigeria starts, and they're complaining
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by izzy4shizzy(m): 1:20pm On Oct 13
una the mad, Nigeria doesnt have a functional Refinery

we just have plants where politicians use to steal money from the budget..

the way this things pain me ehn, they look us like we are fools

this sars protest dont need to end on Sars alone, we need a revolution now!!

2 Likes

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by dallyemmy: 1:20pm On Oct 13
Nigerian refineries dey threaten who now?
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by BruncleZuma: 1:20pm On Oct 13
grin grin grin grin
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by realstars: 1:21pm On Oct 13
UKL
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by AMvanquish: 1:21pm On Oct 13
In the End. Dangote wins, Fg Wins, the Nigerian people win. Dangote cashing out tho.

8 Likes 2 Shares

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by ignis(f): 1:21pm On Oct 13
This is Nigeria
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by wwwihy: 1:23pm On Oct 13
OPEC ,enemy of Progress

3 Likes

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by chamboy(m): 1:23pm On Oct 13
Abouwaza:
There was never a refinery in the first place
You think Nigeria is ready to have a refinery?
Wetin our masters (US and UK) go chop?
You are smart
Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by chiedonedoor(m): 1:23pm On Oct 13
Hmm. Let watch and see how it goes.
1 Corinthians 6:9. KJV
Know ye not that the unrighteous shall not inherit the kingdom of God? Be not deceived: neither fornicators, nor idolaters, nor adulterers, nor effeminate, nor abusers of themselves with mankind, [10] Nor thieves, nor covetous, nor drunkards, nor revilers, nor extortioners, shall inherit the kingdom of God. Christ Jesus is coming soon.
Get right with God

3 Likes 1 Share

Re: Dangote Refinery, Others Threaten Existing Plants – OPEC by AOB1: 1:23pm On Oct 13
This country don tire me embarassed

1 Like 1 Share

(1) (2) (3) (4) (Reply)

BREAKING:"A Brazen Dictatorial Act" - Atiku Reacts To Buhari's Suspension Of CJN / APC Kaduna Picks Hadiza Balarabe As El'Rufai's Running Mate / PDP Asks Buhari To Clarify Role In Massacre Of 300 Igbo Soldiers, Civilians

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 60
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.