LAGOS- In a significant stride towards operationalizing the long-awaited Dangote oil refinery, the facility received its inaugural cargo of 1 million barrels of crude oil from Shell International Trading and Shipping Co (STASCO) on Friday.
The arrival of this pivotal shipment marks a crucial step forward after years of persistent delays.
Once the refinery, backed by Africa’s wealthiest man, Aliko Dangote, reaches total capacity, it is poised to transform Nigeria, an oil powerhouse, into a net exporter of fuels.
This achievement aligns with Nigeria’s enduring ambition, given its heavy dependence on imports in the past.
According to a statement from the Dangote Group, the 1 million barrels of crude sourced from the Chevron-operated Agbami deepwater field will be the first of a total of 6 million barrels.
This substantial supply is anticipated to initiate the refinery’s operations, triggering the production of diesel, aviation fuel, and Liquefied Petroleum Gas. Subsequently, the facility will embark on the production of Premium Motor Spirit.
The subsequent four cargoes, scheduled within the next two to three weeks, will be supplied by the state oil firm NNPC, which holds a 20% stake in the refinery.
The final cargo is expected from ExxonMobil, as stated in the Dangote Group’s announcement.
Despite being the largest oil producer in Africa, Nigeria has grappled with recurrent fuel shortages.
Last year, the country spent a staggering $23.3 billion on petroleum product imports, emphasizing the urgency of achieving self-sufficiency.
The Dangote refinery, commissioned in May after substantial delays, stands as a colossal investment at a cost of $19 billion, representing one of Nigeria’s most substantial industrial ventures.
“Our focus over the coming months is to ramp up the refinery to its full capacity,” affirmed Aliko Dangote, reflecting the determination to overcome previous setbacks and address Nigeria’s fuel challenges.
The agreement signed in November between NNPC and the Dangote refinery, outlining the supply of up to six cargoes of crude starting this month, underscores a collaborative effort to realize this transformative goal.
As the refinery inches closer to full-scale production, its impact on Nigeria’s energy landscape and economic trajectory is poised to be profound, potentially reshaping the nation’s position in the global energy market.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members