With the approaching completion of the 650,000 barrels-per-day (bpd) Dangote Refinery in the Ibeju-Lekki district of Lagos, Nigeria, Ghana, along with other West African nations, would shortly reduce petroleum imports.
Aliyu Suleiman, the Dangote group’s Group Chief Corporate Strategy Officer, revealed this in a virtual conference organized by the Ghana Chamber of Bulk Oil Distributors on Thursday, June 3, 2021.
‘The Dangote Refinery- Project Update and Opportunities for Ghana,’ was the focus of the meeting.
The meeting was attended by a number of players in Ghana’s petroleum sector, as well as Engineer Babajide Soyode, the Technical Advisor to the President of Dangote Group on Refinery and Petrochemicals.
Mr. Suleiman said that the refinery is nearing completion.
“The total project is 88 percent complete,” he stated, giving an update on the project’s progress.
“The engineering component is 100 percent complete, procurement is 99 percent complete, material delivery is 96 percent complete, and construction is 76 percent complete,” he said.
He said that the project should be finished by 2022.
“It will be ready for oil production in January 2022,” he said, adding that “production stabilization is envisaged in September or October 2022.”
He voiced his belief that the refinery’s completion, as well as the completion of other modular refinery projects throughout West Africa, would result in the integration of the petroleum downstream sectors.
It would also help to stabilize the price of petroleum products in the African sub-region, he said.
Eng. Soyode praised the project’s peculiarity, saying, “It has total crude oil independence.”
The Dangote Petroleum Refinery is located in Lagos, Nigeria.
The Dangote Oil Refinery is a 650,000-barrel-per-day (BPD) integrated refinery project in Nigeria’s Lekki Free Zone, near Lagos.
It will be Africa’s largest oil refinery and the world’s largest single-train plant, according to plans.
The Dangote Petroleum Refinery’s pipeline infrastructure is the world’s biggest, with 1,100 kilometers of pipe capable of handling 3 billion standard cubic feet of gas each day.
The refinery alone has a 400MW power plant that can fulfill Ibadan DisCo’s entire power need.
All of Nigeria’s refined product requirements will be met by the refinery, which will also have a surplus of each of these products for export. Dangote Industries Limited made a $12 billion investment.
The Dangote Petroleum Refinery would establish a market for Nigerian crude worth $11 billion per year.
It’s intended to process Nigerian crude, but it can also handle other types.
Source: ATLFMNEWSROOM
