Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,185 members, 7,780,288 topics. Date: Thursday, 28 March 2024 at 11:46 AM

Giant Dangote Oil Refinery Begins Production In 3rd Quarter - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Giant Dangote Oil Refinery Begins Production In 3rd Quarter (31297 Views)

Dangote Refinery Begins Operations / Dangote Refinery Begins Operations Amid Lingering Fuel Crisis / Otedola Visits Dangote’s Oil Refinery, Petrochemical Plant In Lagos (Photo) (2) (3) (4)

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

Giant Dangote Oil Refinery Begins Production In 3rd Quarter by TheDemola: 12:17pm On Jan 23, 2022
■Dangote refinery plans to process 540,000 barrels a day
■Refinery capacity to meet Nigeria’s domestic fuel need

Nigeria’s giant new Dangote oil refinery will start processing crude in the third quarter of this year. 

Mechanical work on the refinery is complete and “hopefully before the end of third quarter we should be in the market,” Aliko Dangote, chairman of Dangote Industries Limited, said in a briefing at the plant site in Lagos. 

The plant will start with a processing capacity of 540,000 barrels a day, Dangote said. “Full production can start maybe, by the end of the year or beginning of 2023,” he said. 

The facility, which will cost an estimated $19 billion to build, has an installed capacity of 650,000 barrels per day. Its output will be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude.

Dangote, Africa’s richest man, addressed reporters along with Akinwumi Adesina, president of the African Development Bank, which previously provided $300 million loan in support of the project.

The AfDB head and Dangote discussed possible collaboration to expand the billionaire’s businesses to more African countries to take advantage of the free trade area agreement, according to Adesina. They also talked about setting up an industrial manufacturing corps on the continent made up of the engineers that built the refinery. This will ensure that the skills gained can be shared with other countries in Africa and outside the continent.

Dangote, originally a cement tycoon, is worth $20.4 billion, according to the Bloomberg Billionaires Index.

https://www.bloomberg.com/news/articles/2022-01-22/giant-dangote-oil-refinery-to-begin-production-in-third-quarter

10 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by heniford2: 12:18pm On Jan 23, 2022
Monopol in play in Nigeria

28 Likes 2 Shares

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by TheDemola: 1:00pm On Jan 23, 2022
heniford2:
Monopol in play in Nigeria

BUA also building one in Akwa Ibom now and the other modular refineries

121 Likes 3 Shares

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Nobody: 1:18pm On Jan 23, 2022
grin Okay Alhaji 3rd Quarter is fair, but safety is also important, so don't rush ... the most important thing is that by the end of 2022 we can all say Nigeria have a functioning Refinery and Petrochemical complex ready to serve the world and attract more LDI and FDI.

21 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by nzeobi(m): 1:46pm On Jan 23, 2022
Thank God this refinery is coming on stream soon but who has update on the Walter Smith refinery in IMO State and the refinery commissioned in Edo state the other time

19 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by dominique(f): 3:25pm On Jan 23, 2022
Other than the employment opportunities it brings, there's nothing to be thrilled about this refinery. When cement was still being imported, the price was still manageable. In comes Dangote cement with locally sourced materials, prices of cement has since quadrupled if not more. I'm sure that's how it's going to be when this Dangote refinery becomes operational. That N300/L we don't want to spend on fuel at the moment, we might end up spending more than that as I'm sure government won't spend one Kobo to subsidize his fuel. Dangote enters a market and the prices of the commodity automatically inflates. His fuel won't be an exception

101 Likes 8 Shares

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by GIANTPLUSHUB: 3:29pm On Jan 23, 2022
Let's see how it goes

1 Like 1 Share

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Damidave1124(m): 9:03pm On Jan 23, 2022
I hope it will reduce the price of PMS/Petrol?
If not, I don't see how this will have a positive effect on the common man

11 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Nobody: 9:03pm On Jan 23, 2022
Lovely, God Bless Nigeria

3 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by googlepikins: 9:03pm On Jan 23, 2022
My brother work there he said that refinery will be ready around 2 years time. 1st quarter of 2024. Plenty of work dey that complex.

And the paste of work is really slow cos the Indians and the Chinese contractors don't get along that much.
And they have serious theft issues there too.

Apparently some Nigerians in collaboration with Nigerian security agents are stealing installed cables.

44 Likes 5 Shares

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Nobody: 9:04pm On Jan 23, 2022
Hopefully it works well this time
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by wman(m): 9:04pm On Jan 23, 2022
He said "Hopefully."

Not certain.

1 Like

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by LegendHero(m): 9:04pm On Jan 23, 2022
Nice one Dangote.

Let’s hope it take off as scheduled.

2 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by OkoroPeugeot(m): 9:05pm On Jan 23, 2022
Subsidy is endig before Q3
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by sulaak(m): 9:06pm On Jan 23, 2022
TheDemola:


BUA also building one in Akwa Ibom now and the other modular refineries

BUA is building nothing and the modular refinery is a none starter.

10 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by bigdammyj: 9:06pm On Jan 23, 2022
Noted
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by 1nigeriamyfoot: 9:07pm On Jan 23, 2022
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by princepee: 9:07pm On Jan 23, 2022
Dangote can afford to build a refinery.....
Yet the federal government couldn't build new ones, but maintaining old outdated ones with billions of dollars.

Politics and corruption will kill this country.
We have crude yet import refine products.
Big shame.
BTW is this dangote refinery the reason why they want to remove subsidy?
Make them no try rubbish oo. Fuel.must not sell . more than #165.
They don't import the crude.

11 Likes 1 Share

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Johnson5258: 9:07pm On Jan 23, 2022
Noted

dominique:
Other than the employment opportunities it brings, there's nothing to be thrilled about this refinery. When cement was still being imported, the price was still manageable. In comes Dangote cement with locally sourced materials, prices of cement has since quadrupled if not more. I'm sure that's how it's going to be when this Dangote refinery becomes operational. That N300/L we don't want to spend on fuel at the moment, we might end up spending more than that as I'm sure government won't spend one Kobo to subsidize his fuel. Dangote enters a market and the prices of the commodity automatically inflates. His fuel won't be an exception
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by lexy2014: 9:08pm On Jan 23, 2022
dominique:
Other than the employment opportunities it brings, there's nothing to be thrilled about this refinery. When cement was still being imported, the price was still manageable. In comes Dangote cement with locally sourced materials, prices of cement has since quadrupled if not more. I'm sure that's how it's going to be when this Dangote refinery becomes operational. That N300/L we don't want to spend on fuel at the moment, we might end up spending more than that as I'm sure government won't spend one Kobo to subsidize his fuel. Dangote enters a market and the prices of the commodity automatically inflates. His fuel won't be an exception

employment? which employment? many have complained that its indians that are more on the site of the refinery

6 Likes

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by newsheadlines: 9:08pm On Jan 23, 2022
Great!
New Visuals Of Dangote Refinery And 7 Facts About The Biggest Oil Refinery

https://www.youtube.com/watch?v=6Zd3Oabo7nE
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by chaloskyx: 9:11pm On Jan 23, 2022
LETS WAIT AND SEE LETS HOPE WE WONT BE DOING TURN AROUND MAINTANANCE (TAM) EVERY YEAR LIKE OUR NIGERIAN GOVT COUNTERPARTS WISHING YOU THE BEST
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by calcal: 9:12pm On Jan 23, 2022
Good, what is the stock code and where to buy it?
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by dijas(m): 9:13pm On Jan 23, 2022
Reading
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by INTEGRITYA1(m): 9:15pm On Jan 23, 2022
Great
Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Nobody: 9:15pm On Jan 23, 2022
Super Eagles embarassed

1 Like

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Cognitivereason: 9:16pm On Jan 23, 2022
dominique:
Other than the employment opportunities it brings, there's nothing to be thrilled about this refinery. When cement was still being imported, the price was still manageable. In comes Dangote cement with locally sourced materials, prices of cement has since quadrupled if not more. I'm sure that's how it's going to be when this Dangote refinery becomes operational. That N300/L we don't want to spend on fuel at the moment, we might end up spending more than that as I'm sure government won't spend one Kobo to subsidize his fuel. Dangote enters a market and the prices of the commodity automatically inflates. His fuel won't be an exception

Fuel is supposed to sell for N340 and above per litre if not for subsidies.. Since govt wanna remove subsidies by july...when dangote starts production he will sell fuel for N340 and above depending on oil prices

He is not inflating it as that is the international price

9 Likes 1 Share

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by ItooWorWor(m): 9:17pm On Jan 23, 2022
Nice one!
It will save Nigeria a huge forex.

1 Like

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Elidrisy20: 9:17pm On Jan 23, 2022
Quota system billionaire

4 Likes 1 Share

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by RodgersAkpafu: 9:18pm On Jan 23, 2022
dominique:
Other than the employment opportunities it brings, there's nothing to be thrilled about this refinery. When cement was still being imported, the price was still manageable. In comes Dangote cement with locally sourced materials, prices of cement has since quadrupled if not more. I'm sure that's how it's going to be when this Dangote refinery becomes operational. That N300/L we don't want to spend on fuel at the moment, we might end up spending more than that as I'm sure government won't spend one Kobo to subsidize his fuel. Dangote enters a market and the prices of the commodity automatically inflates. His fuel won't be an exception
The simple reason for this is because production in Nigeria is very much expensive
Think of how much worse our exchange rates position would have been if we were still importing the huge cement demand needs of this country

Life is a trade off
You cant have it all...
If you want cheap stuff produced abroad
Dont complain when your forex is wrecked

12 Likes 1 Share

Re: Giant Dangote Oil Refinery Begins Production In 3rd Quarter by Elsueno: 9:22pm On Jan 23, 2022
I bet 1 million naira this refinery would even struggle to begin operation at first quarter of 2023.....No be 9ja grin grin

7 Likes 2 Shares

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

CBN Stops Sales Of Forex To Bureax-De-Change / How Do I Start Recharge Card Printing / UBA Sets International Spending Limit To $20 Per Month

(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 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 33
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.