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Petrol production at Nigerian business tycoon Aliko Dangote’s $20bn (£15.5bn) state-of-the-art oil refinery ought to be some of the best business news Nigeria has had in years.
The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria. When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world. The investment is over US$19 billion. [2]
The group has also diversified into oil and gas-related ventures, establishing a 3 million tonnes fertilizer plant, petroleum refinery capable of refining 650,000 barrels of oil and a petrochemical operation. [8] Dangote Refinery was inaugurated in May 2023, and will be the largest single train refinery in the world at full capacity. [17] [18]
The Oil & Gas Journal publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. For some countries, the refinery list is further categorized state-by-state.
Aliko Dangote (born 10 April 1957) is a Nigerian businessman and industrialist. He is the first man who built a private refinery in Nigeria. Forbes estimate his net worth at US$ 11.6 Biilion and Bloomberg Billionaires Index US$28.1 billion, and ranked 197th and 67th richest individual in the world respectively.
Newsom introduced the bill on the same day lawmakers followed through on their end of an agreement made with the oil industry to halt a campaign to overturn a law that prevents drilling new oil ...
In 2016, largely in response to dramatically falling oil prices due to U.S. shale oil output, OPEC signed an agreement with 10 other oil-producing countries to create OPEC+. Josh Boak contributed ...
Aliko Dangote pledged to rename the road leading to his oil refinery after Wigwe. Nigerian vice president Kashim Shettima said that Wigwe "left us in winter before the season of bloom." French president Emmanuel Macron described Wigwe's death as the loss of a "great friend". [7]