Dangote Oil Refinery Company has said the petroleum products from the refinery it is building in Lagos will compete with imports from Europe, Middle East and India.
The company said the 650,000 barrels per day refinery had been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that would meet the Euro V specification.
The Group Executive Director, Dangote Industries Limited, Devakumar Edwin, said the company was investing in most advanced units to meet the 10 parts per million sulphur specification.
Edwin, who was represented by the Director, Business Strategy and Optimisation, Dangote Refinery, Mr Srinivas Rachakonda at the Oil Trading and Logistics Africa Downstream Week in Lagos, said the refinery would process Nigerian, West African and some Middle East and American crudes.
Speaking on ‘Promoting efficiency and clean fuels in African refining and petrochemicals market’ at a panel session, he said the construction of the refinery would provide thousands of direct and indirect jobs and add value to the Nigerian economy.
He stated that the refinery would lead to significant skills transfer and technology acquisition opportunities in the country.
Edwin said, “Dangote Group has embarked on a landmark integrated refinery and petrochemical project, regarded as the largest industrial complex in the history of Africa, which is expected to take Nigeria to new heights through transformation of the economy.
“The refinery will ensure that the security of local supply of petroleum products is guaranteed as well as the availability of petrochemical feedstock (poly-propylene and polyethylene), which will be enough for the Nigerian market as well as the neighbouring countries.”
He said the project would also reposition Nigeria as an attractive investment destination and a major industrial hub in Africa.
According to him, the company has invested in the East West Offshore Gas Gathering System project, which would unlock significant gas supply and help reduce gas flaring in Nigeria.
He said the first phase would deliver gas for the use of Dangote Industries Limited, including the proposed fertiliser plant in the complex, and other identified industrial and power plant users.