Nigeria’s Dangote Refinery to Build Eight Oil Storage Tanks

SEATTLE (Oil Monster): In an attempt to increase the refinery's storage and refining capacities, the Dangote Refinery in Nigeria revealed plans to build up to eight oil tanks.

It is anticipated that the building of the proposed tanks will increase the refinery's ability to store crude oil by about 1 billion liters. This means that the current 2.4 billion liters of storage capacity will be increased by almost 42 percent. It should be mentioned that the refinery now has 20 storage tanks, each of which has a 120 million liter capacity. Additionally, the anticipated total capacity of refined product storage tanks is 2.34 billion liters.

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In January of last year, the refinery started producing aviation fuel and diesel. In September 2024, it then started producing gasoline. Both the domestic and export markets are served by the refinery.

Due to the unpredictability of local supplies, the refinery intends to stockpile imported crude, which would necessitate the construction of additional storage tanks. It must be noted that the crude oil supply from the Nigerian National Petroleum Company (NNPC) to the refinery continues to remain at low levels.

Nigeria imported 47,000 barrels per day of WTI crude oil in 2024, with majority of imports going to the Dangote refinery.

According to Devakumar Edwin, vice president in charge of oil and gas business at Dangote Industries, four of the proposed eight tanks are almost finished.