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Dangote refinery on track to deliver gasoline in July

Devakumar Edwin, Vice President Oil and Gasoline at Dangote Industries Restricted, has reiterated that the Dangote Oil Refinery will begin supplying petrol in July as promised.

Edwin mentioned this whereas giving S&P International officers a tour of the corporate final weekend.

In line with Edwin, the corporate goals to create a optimistic spiral of commercial improvement, employment and financial prosperity by harnessing Africa’s plentiful crude oil reserves to provide regionally refined merchandise.

He additionally revealed that “as beforehand promised, the corporate will start manufacturing of Premium Motor Spirit this month.”

Edwin claimed that the manufacturing facility’s merchandise are of top quality and meet worldwide requirements. He additionally mentioned that the corporate can meet one hundred pc of Nigeria’s demand for petrol, diesel, kerosene and jet gasoline, with surplus out there for export.

S&P International in the meantime reported that the Dangote refinery may remedy Nigeria’s overseas alternate issues by ending gasoline imports, that are placing big stress on the native Naira forex.

Our correspondent gathered that S&P International visited the Dangote refinery in Ibeju-Lekki, Lagos, as a part of its credit score evaluation of Nigeria.

The staff from the worldwide ranking company was accompanied by officers from the Federal Ministry of Finance.

Ravi Bhatia, Director and Chief Analyst of Sovereign and Worldwide Public Finance Rankings at S&P International Rankings, who led the delegation to Lagos, mentioned the Dangote refinery would remodel Nigeria right into a internet exporter of oil merchandise. He added that this transformation is predicted to spice up revenues and ease the present stress on the nation’s overseas alternate reserves.

Bhatia mentioned: “It’s a very spectacular facility, able to processing 650,000 barrels per day when working at full capability. It’s the largest single-train refinery complicated on the planet. It has been commissioned fairly rapidly. Nigeria is a significant exporter of crude oil however has issues importing refined fuels.

“So there’s a hole out there the place crude oil could be refined in Nigeria, get monetary savings and probably avoid wasting overseas alternate. This might be optimistic for the financial system within the medium time period. It seems to be optimistic from our evaluation,” Bhatia mentioned after a greater than four-hour tour of the ability.

The S&P staff counseled Dangote Industries Restricted President Aliko Dangote for integrating superior applied sciences and high quality management measures, together with a state-of-the-art central management unit, which ensures easy automation of operations.

Edwin mentioned the refinery at present has a capability of 350,000 barrels per day and that by July/August the capability needs to be scaled as much as a minimum of 500,000 barrels per day, at which level the refining of ultra-low sulphur gasoline and diesel can start.

He famous that the refinery, which is designed to course of a variety of crude oils, together with varied African and Center Jap crudes, in addition to U.S. mild oil, meets Euro V specs. In line with him, the refinery is designed to satisfy U.S. EPA, European Union, Division of Petroleum Sources Emissions/Wastewater Requirements and African Refiners and Distribution Affiliation requirements.

Noting that a lot of the refineries have been constructed by overseas corporations, he mentioned it was a matter of satisfaction {that a} Nigerian firm designed and constructed the most important single-train refinery complicated on the planet, whereas performing immediately as its personal Engineering, Procurement, and Building (EPC) contractor. The refinery additionally features a self-sufficient marine facility able to dealing with the most important vessels on the planet.

“The refinery can produce the very best quality merchandise on the planet, Euro V class. It is likely one of the most power environment friendly refineries and could be very environmentally pleasant. It’s superior with excessive stage of automation. “The world’s largest single practice refinery is one hundred pc designed, developed and constructed by a Nigerian firm as EPC contractor,” he mentioned.

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