NNPCL Reveals Date of Crude Oil Supply to Dangote Refinery as Facility Begins Operations
- Dangote Refinery is set to begin operations next week after being commissioned by President Buhari
- NNPCL has revealed that it will begin the supply of 300,000 barrels of crude oil daily to the facility
- Mele Kyari, the NNPCL boss, said the national company has about 20% stake in the refinery
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Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), has confirmed that the company will begin the supply of 300,000 barrels of crude oil to the Dangote refinery next week as it is set to start operations.
According to reports, Kyari stated this at the 4th Nigerian Oil and Gas Opportunity Fair in Yenogoa, Bayelsa State. He asked all stakeholders to unite with the Nigerian oil firm to grow the country's crude oil and gas production.
Source: UGC
FG invests 20 per cent in Dangote refinery
According to the NNPC boss, the company has about 20% stake in the refinery due to be commissioned by President Muhammadu Buhari on May 22, 2023, stressing that with the commencement of operations of the refinery, NNPCL will be supplying 300,000 barrels of crude oil to Dangote daily.
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He stated that the national oil firm is ready to meet its obligations to the refinery owned by Africa's richest man, Aliko Dangote.
Kyari said:
"We want to address the energy challenges so that industrialisation can come to the country. Forty-eight per cent of all revenue that comes to the government comes from the oil and gas sector, and we are in a perfect position to support the economy's growth."
Buhari's aide, Bashir Ahmad, had tweeted that the president would commission the refinery.
Ahmad said:
"Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world's largest single-train refinery, is set for inauguration on May 22, 2023, by President Muhammadu Buhari."
Biggest refinery in Africa
The facility, with an installed capacity of 650,000bpd, is estimated to be worth over $19 billion and is an integrated refinery project under construction in the Lekki Free Trade Zone in Lagos.
A Punch report said the facility is expected to be Africa's biggest oil refinery and the world's single-train facility.
The Dangote industry said on its website that the refinery would meet 100% of Nigeria's refined product requirement and have a surplus for export.
"Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21bn per annum of Nigerian crude. It is designed to process Nigerian crude with the ability also to process other crude," the company said.
Nigerians have expressed optimism about the commencement of operations at the refinery due to the vast benefits derivable from the project.
Dangote Refinery sets date for first crude production as Buhari prepares to commission complex
Legit.ng earlier reported that Dangote Refinery is expecting the arrival of its first crude batch in June this year.
The refinery's representative stated that they expect to start processing the initial batch, which consists of 500,000 barrels, before increasing production gradually to 65,000 of the refinery's installed capacity by 2024.
The facility is to be commissioned by President Muhammadu Buhari on May 22, 2023.
Source: Legit.ng
