Dangote Refinery Surpasses Europe’s Top Refineries in Capacity
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Bloomberg, a prominent financial data and media company, has placed the Dangote Refinery above Europe’s top ten largest refineries in terms of capacity.
Situated along the Lekki-Epe Expressway in Lagos State, the refinery, valued at $20 billion, boasts a daily refining capacity of 650,000 barrels of petroleum products.
According to a report accessed by our correspondent on Thursday, this capacity exceeds that of many renowned European refineries.
Notably, the report highlights that the Dangote Refinery surpasses Shell’s Pernis Refinery in the Netherlands, which holds an installed capacity of 404,000 barrels per day (bpd).
Other notable European refineries listed include the BP Rotterdam Refinery in the Netherlands with a capacity of 380,000 bpd, the GOI Energy ISAB Refinery in Italy at 360,000 bpd, and the TotalEnergies Antwerp refinery in Belgium at 338,000 bpd.
The Bloomberg report describes the Dangote Refinery as a ‘game changer,’ leveraging cheaper US oil imports to commence operations. It anticipates significant impacts on the Atlantic Basin gasoline markets.
Oil expert Alan Gelder remarked to Bloomberg that the refinery’s operations would reshape the fuel market in Nigeria and the wider region.
Currently, the refinery, operating at about 300,000 barrels per day, is gradually expanding its product offerings, including jet fuel, diesel, and naphtha.
Reuters recently highlighted the potential of the Dangote refinery to disrupt the petrol trade from Europe to Africa, estimated at $17 billion annually. The refinery’s entry into the market has already led to a significant drop in diesel pump prices in Nigeria.
This remarkable development underscores the transformative role of the Dangote Refinery in the regional and global petroleum landscape.
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