Dangote Commits to Start Petrol Production in July

SEATTLE (Oil Monster): Dangote Industries Limited (DIL) reiterated its commitment to commence production of petrol by this month, as promised by it earlier.

The assurance was given by Devakumar Edwin, Vice President of Oil and Gas at DIL, during an onsite visit of the refinery facility by S&P Global, in connection with its sovereign credit ratings assessment. The team from the ratings agency was accompanied by top officials from the Finance Ministry.

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According to Edwin, the move will mark the commencement of local refined products production by harnessing the continent’s crude oil reserves. The products from the facility will be of highest quality and will meet international standards. The refinery will be capable of meeting all of Nigeria’s petrol demand, he added.

Making its remarks after the tour of the facility, S&P noted that the refinery complex is all set to bolster Nigeria’s oil sector. More importantly, it will have a huge positive impact on the country’s economy. Additionally, the full swing operations at the facility will help Nigeria resolve its long pending foreign exchange worries.

The S&P team also commended the refinery for integrating state-of-the-art technologies and modern quality control measures, with the aim of automating its operations.

The Dangote Refinery, with a projected capacity of approximately 650,000 barrels per day, is expected to transform Nigeria into a net exporter of petroleum products.