₦airaland Forum

Ghana to import petroleum products from Dangote refinery ‘to reduce prices’

The Ghana National Petroleum Authority (NPA) says it is considering buying petroleum products from the Dangote Petroleum Refinery once the facility is operating at full capacity.

According to Reuters, Mustapha Abdul-Hamid, chairman of NPA, Ghana, spoke on Monday at the OTL Africa Downstream Oil Conference in Lagos.

On September 3, Dangote refinery officially announced the commencement of refining crude oil.

However, the 650,000 barrel per day (bpd) capacity refinery began operations in January with the production of diesel and aviation fuel.

Abdul-Hamid said patronising Dangote refinery will help the country cut more expensive exports from Europe which cost the country about $400 million monthly.

“If the refinery reaches 650,000 bpd a day capacity, all that volume cannot be consumed by Nigeria alone, so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria and I believe that will bring down our prices,” Hamid said.

He said importing from Nigeria rather than Europe would reduce the prices of other goods and services by removing freight costs.

Hamid also said African countries would agree on a common currency that should dampen demand for dollars.

The Association of Oil Marketing Companies (AOMCs) in Ghana had on September 11, projected a marginal reduction in petrol and diesel prices starting from September 16 — if the cedi remains stable against the dollar.

Owned by Aliko Dangote, Africa’s richest man, the refinery is expected to operate at near full capacity at the end of the year.

Dangote‘s first sea cargo of petrol arrives Lagos as key refinery ramps up


Our Reporter
October 26, 2024

Nigeria’s Dangote refinery, larger than any other in Africa or Europe, has shipped its first seaborne petrol cargo as a vital fuel-producing unit continues to ramp up.

The Sabaek sailed with about 500,000 barrels of petrol from Dangote to the nearby commercial hub of Lagos in recent days, according to a port report and ship-tracking data compiled by Bloomberg.

Meanwhile, the refinery’s residue fluid catalytic cracker, a crucial unit in the production of the fuel, is continuing to ramp up output, according to a person familiar with the matter, who asked not to be named discussing private information.
Spokespeople for Dangote didn’t immediately respond to a request for comment.

Once fully operational, the 650,000-barrel-a-day plant will transform the regional gasoline market, potentially reducing the need for imports of the fuel from Europe to West Africa. It has already shaken up crude oil flows by trimming an overhang of Nigerian supply.

This first shipment via sea comes about one month after the new refinery began using trucks to transport petrol.

A refinery’s RFCC unit helps upgrade petroleum products into more valuable fuels like gasoline.

The Dangote Petroleum Refinery has so far received four cargoes of crude oil from the Nigerian National Petroleum Company (NNPC) Limited under the naira-for-crude sale agreement.

It was gathered that the four cargoes of crude were delivered to the refinery within the past three weeks when the government began the sale of crude to local refineries in the local currency.

Officials said that the refinery was still waiting to receive more crude oil cargoes from NNPCL, the organisation managing the country’s hydrocarbon resources.
They also confirmed that the $20bn Lekki-based plant was now set to begin the direct sale of refined Premium Motor Spirit, popularly called petrol, to domestic dealers.

A source close to the Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency, who did not want to be mentioned because he was not permitted to speak with the press, confirmed to The PUNCH that “more cargoes (of crude) would be delivered to the Dangote refinery in the coming weeks.”

The official disclosed that the programme started with the Dangote refinery as the only petrol-producing facility in Nigeria at the moment.

MadamVanessa:



The sad thing is that Ghana will import the petrol from Dangote refinery and sold it in Ghana more cheaper to Ghanaians while Nigerians will continue to buy petrol in a very very high price ,even though the oil is owned by us and Dangote refinery is in Nigeria and Dangote himself is a Nigerian. If you doubt this, see the light situation in Ghana and Nigeria and you'll realize how this shit hole is uselèss and how uselèss the Nigerians leaders are.

MadamVanessa:



The sad thing is that Ghana will import the petrol from Dangote refinery and sold it in Ghana more cheaper to Ghanaians while Nigerians will continue to buy petrol in a very very high price ,even though the oil is owned by us and Dangote refinery is in Nigeria and Dangote himself is a Nigerian. If you doubt this, see the light situation in Ghana and Nigeria and you'll realize how this shit hole is uselèss and how uselèss the Nigerians leaders are.

FatimaAbubakar:
Who cares? Nigeria is a useless country.

JASONjnr:
This is a good development if this deal will be exchanged in Naira rather than in dollar to the value of naira...

MadamVanessa:



The sad thing is that Ghana will import the petrol from Dangote refinery and sold it in Ghana more cheaper to Ghanaians while Nigerians will continue to buy petrol in a very very high price ,even though the oil is owned by us and Dangote refinery is in Nigeria and Dangote himself is a Nigerian. If you doubt this, see the light situation in Ghana and Nigeria and you'll realize how this shit hole is uselèss and how uselèss the Nigerians leaders are.

MadamVanessa:



The sad thing is that Ghana will import the petrol from Dangote refinery and sold it in Ghana more cheaper to Ghanaians while Nigerians will continue to buy petrol in a very very high price ,even though the oil is owned by us and Dangote refinery is in Nigeria and Dangote himself is a Nigerian. If you doubt this, see the light situation in Ghana and Nigeria and you'll realize how this shit hole is uselèss and how uselèss the Nigerians leaders are.

oluseyiforjesus:
Who is Dangote Heir?
He get y I ask ds question

richmond500:
You think Nigerians are paying more in electricity? Lolz.
There are many people that haven't even paid a single light bill in over a decade in this Nigeria yet they receive a 19-22hour daily light.
Also when their light have issues, na NEPA deh fix am for them, they don't pay a dime