AFRICA'S LARGEST REFINERY DELAYS FIRST GASOLINE SUPPLY UNTIL MID-JULY

SOURCE: oil price

Nigeria's Dangote refinery, Africa's largest and newest crude oil processing facility, is delaying the start of gasoline deliveries beyond mid-July, Dangote group chairman Aliko Dangote told reporters this week. Nigerian media.

The refinery began fuel production in January 2024, marking the start-up of a facility that has suffered years of delays. "The Dangote oil refinery has commenced production of diesel and aviation fuel," the group said in a statement at the time, adding that the new refinery is "a turning point for our country." The refinery, which has a processing capacity of 650,000 barrels per day (bpd), will meet 100% of Nigeria's demand for all refined petroleum products and will also have a surplus of each product for export. The Dangote refinery hopes to export diesel to customers in Europe, as well as gasoline to Latin American and African markets. However, production of Euro V gasoline, the gasoline that meets Europe's emissions standards, is not expected to occur until late 2024, according to analysts at Facts Global Energy. Aliko Dangote is also looking to set up a trading company that would handle crude oil supply for the new mega refinery in Nigeria, Reuters reported in March, citing multiple sources with knowledge of the plans. Dangote wants to try to establish a trading arm to handle trade from the huge refinery, after major oil trading houses and big companies have failed to sign any agreement with Africa's richest person regarding possible loans to the refinery for the crude oil you would need to buy.