₦airaland Forum

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With the delivery of two million barrels of crude, the $19 billion Dangote Oil Refining Company is set to commence production of petroleum products paving the way for additional jobs and foreign exchange relief to the economy.

This follows yesterday’s delivery of an additional one million barrels of crude oil to the refinery, two weeks after taking the delivery of the first cargo of one million barrels.



The Refinery had disclosed that it purchased the first one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), one of the largest trading companies in Nigeria as well as globally, trading over 8 million barrels of crude oil per day.

Also, these represent the first phase of the 6 million barrels of crude oil to be supplied by a range of suppliers.

The latest cargo, which sailed to the facility’s Single-Point Mooring (SPM) where it was discharged into the refinery’s crude oil tanks, has increased total deliveries to about two million barrels.

Experts in oil and gas, yesterday, said with this level of crude supplies, Dangote Refinery is set to start operations, describing the coming on stream of Dangote Petroleum Refinery and Petrochemicals as a major milestone, capable of making a positive impact in the economies of Nigeria and West Africa.

In a telephone interview with Vanguard, yesterday, the Executive Chairman, the African Energy Chamber, NJ Ayuk, said: “We are excited to see that the Dangote Refinery has secured its crude cargoes This is a significant milestone, both for the country and the West African region at large.

“With a capacity to produce 350,000 barrels per day, the refinery holds particular significance for the country, where a reliance on fuel imports has been a defining feature for decades, despite its over 37 billion barrels of proven reserves.”


“This cargo will see diesel, aviation fuel and Liquefied Petroleum Gas produced, followed shortly thereafter by the production of Premium Motor Spirit. These products will enable the country to become self-sufficient while exporting to regional neighbours. This, in turn, will strengthen the fiscal dynamics, putting an end to fuel subsidies, high prices and inconsistent supply, thereby setting a strong benchmark for other resource-rich countries in Africa.”



“The project is designed 100% for Nigerian crude and is expected to meet 100% of the country’s demand for refined products, with surplus exported. This, in itself, is a testament to the instrumental role the facility will play in facilitating growth in Nigeria, enabling the country to rely predominantly on its own resources to sustain its economy. We commend the facility for this milestone achieved and we look forward to the first supply of Nigerian fuel products.”

Similarly, the Chairman of International Energy Services, Dr. Diran Fawibe, said: “This is a welcome development that will create many multiplier effects, including additional jobs opportunities. Any producing country would want to allocate a share of its local production to refining and that makes the industry complete.

“The supply of crude oil to the economy used to be considered as a part of energy security, we know from history many countries went to war or influenced war against many nations simply because of importation of products to secure the supply in their country.”

B

Keep moving,is not easy.

Congrats to Dangote, but he better be allowed to sell fuel at market price from that refinery.

RepoMan007:
Is there any private or govt product that has been forced to sell below market price?
Keep replying to your own imagination from thread to thread.

We all know govt pays full prize for the product and then allow marketers to sell below the cost price.

I cannot help government e-supporters who are blind to see that fuel is being sold below landing price.

Oga, if you want your subsidy back, your beloved Tinubu is giving you subsidy. Meanwhile, the fact is, if you want working refineries, petrol has to be sold at a profit. Which APC is not recognizing.

Fuel that costs N720 or more to bring in is costing N580-700, and you are here asking nonsense question?

If you like, cry about it. I don't care

lol.


NO MATTER WHAT PARTY YOU SUPPORT, WHATEVER SIDE, THINGS MUST BE SOLD AT A PROFIT.

But you no wan face realty, Na to abuse me dey disturb you.

The oil go soon finish for ground

Renalman:
The oil go soon finish for ground

Poverty will multiply in the region of the oyel people

This is one of the best news to hit our airwaves in 2023,it is important that we continually congratulate all good meaning Nigerians in both the NNPCL and the presidency for making this great news happen.The enemies of Nigeria have lost out,Nigeria is on the way to greatness and nothing can stop us.
For those who are yet to understand how massive this project is,let me school you on a figures and facts:

The Dangote Refinery will collect 6 million barrels of crude oil in 6 weeks,as of today 2 million barrels have been delivered by NNPCL. The 6 million barrels cost 462 MILLION DOLLARS at 77 dollars per barrel according to latest figures released by OPEC(Organization of Petroleum Exporting Countries)

According to the latest exchange rate of 1000 naira to a dollar,the 6 million barrels of crude oil is 462. BILLION NAIRA.

The Niger State Governor just signed into law the state's 2024 budget,the total amount came to 454 BILLION NAIRA,this is to cover both expenditure and recurrent expenses
My point is simple,Dangote Refinery's raw materials for a month is the total budget of Niger State for a whole year,and mind you the Refinery is operating at 50% capacity

Visit my signature to know how best to get a property around the Ibeju Lekki Industrial Hub,the door of investment is still very open

Make una pity potopoto people o. They hate good news

nairalanda1:
Congrats to Dangote, but he better be allowed to sell fuel at market price from that refinery.

Other refineries would come board next year.

Biodun556:
Other refineries would come board next year.

And they all must sell at market price...cos there is no such thing as cheap fuel

At this rate we could be 2-3 months away from production if 10 million barrels must be secured before running the refinery.

Ikaeniyan0:
Make una pity potopoto people o. They hate good news

Potopoto people wey dey follow supply their oil to Dangote?

Lmao there are three confirmed oil producing states in the potopoto region.

Which one your state get? Onye brown roof

Nonny95:
Potopoto people wey dey follow supply their oil to Dangote?

Lmao there are three confirmed oil producing states in the potopoto region.

Which one your state get? Onye brown roof

Ondo state produce more oil than the whole south east

Ikaeniyan0:
Ondo state produce more oil than the whole south east

Politically motivated production.

That's how Anambra and Enugu oil were unreported till today.

Imo 17 oil Wells ceded to Rivers under Wike.

Just as you are parroting oil Wells ceded from Delta, Edo to Ondo by OBJ.😂😂 Like Ondo oil like Lagos oil.

IMO gas reserve despite being the largest deposit in the country, yet still under reported and untapped. We know all these.

Nonny95:
Politically motivated production.

🤡

Good news, children of hate from the east side of river Nigeria will not like this news, Bad news makes their men get erection and the female becomes Hot.

nairalanda1:
Congrats to Dangote, but he better be allowed to sell fuel at market price from that refinery.

Is there any private or govt product that has been forced to sell below market price?
Keep replying to your own imagination from thread to thread.

We all know govt pays full prize for the product and then allow marketers to sell below the cost price.