NNPC to Supply Dangote Refinery 300,000 Barrels of Crude Oil Daily
The Nigerian National Petroleum Company Limited is set to supply 300,000 barrels of crude oil per day to the Dangote Refinery, as it begins operations next week.
The Group Chief Executive Officer, NNPCL, Mele Kyari, made the disclosure on Thursday at the ongoing 4th Nigerian Oil and Gas Opportunity Fair in Yenagoa, Bayelsa State.
He urged all stakeholders to join the national oil company in growing the oil and gas sector in Nigeria.
He said the NNPCL, which had 20 percent stake in the refinery, was ready to meet its crude oil supply obligations to the facility, stressing that with the coming on stream of the refinery next week, the national oil company “wll be supplying 300,000 barrels of crude oil per day to Dangote.”
He was quoted in a statement as saying, “We want to address the energy challenges so that industrialisation can come to the country. 48 per cent of all revenue that comes to the government comes from the oil and gas sector and we are in a very good position to support the growth of the economy.”
The Dangote Refinery, established by Africa’s richest man, Aliko Dangote, is scheduled to be inaugurated on May 22, 2023.
A presidential aide, Bashir Ahmad, had tweeted that the inauguration would be done by the President, Major General Muhammadu Buhari (rtd).
“Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is set for inauguration on May 22nd, 2023, by President Muhammadu Buhari,” Ahmad announced.
The 650,000bpd facility, estimated to be worth over $19bn, is an integrated refinery project under construction in the Lekki Free Zone, Lagos, Nigeria. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility.
The company, on its website, said the refinery would meet 100 percent of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.
“Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21bn per annum of Nigerian crude. It is designed to process Nigerian crude with the ability to also process other crude,” the firm stated.
Punch/Hauwa Abu
