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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 Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. [2] It is the largest conglomerate in West Africa and one of the largest on the African continent. The group employs more than 30,000 people, generating revenue in excess of US$ 4.1 billion in 2017.
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.
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
However, crude oil prices have increased, offering some consolation. The decline in production may also lead to a reduction in Nigeria's OPEC quota. The country's gas exports decreased by 25% to a three-year low, [58] similar to the decline in crude oil exports. Low production and the exit of multinationals are the main causes.
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
"With Delta achieving an all-time record in single-day cash sales last week, management is increasingly confident in its ability to pass 100% of higher fuel costs to fare prices in 2Q22," the ...
In August 2018, Dangote Industries Tanzania signed a 20-year agreement with the Tanzania Petroleum Development Corporation, for the latter to supply readily available natural gas to this power station, for the purpose of generating electricity to be used in the manufacture of cement. Initially enough gas will be provided to generate 35 ...