Full List: Dangote Refinery Set To Become World’s 6th largest refinery
- Aliko Dangote's petroluem refinery will become the sixth largest refinery in the world as there is an upgrade plan
- The refinery, which is the largest single-train refinery in the world, has a capacity of 650,000 barrels per day
- Dangote refinery has played a significant role in fuel availability and reduced reliance on imported refined petroleum products
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Africa’s largest oil refinery, the $20 billion Dangote Petroleum Refinery, is set to become the sixth-largest refinery globally.
Source: UGC
The refinery located in Lekki is currently going through a modification process to upgrade it from 650,000 barrels per day to 700,000 barrels per day by the end of 2025.
The Dangote refinery is currently the 7th largest refinery in the world.
The upgrade, which is to add another 50,000bpd to the facility’s nameplate capacity, will see the refinery surpass South Korea’s Onsan Refinery, which has a capacity of 669,000 bpd, to become the 6th largest in the world.
Dangote refinery expansion plans
Aliko Dangote, President of the Dangote Group, confirmed the new development to journalists, stating that work on key refining units, particularly the Residual Fluid Catalytic Cracker (RFCC), was nearing completion.
He revealed that the largest single-train refinery could not reach 100% capacity this year due to the modifications going on.
His words:
“Our RFCC is at 85%. We are not up to 100 per cent because there are some modifications that we are doing.
"It will finish by the end of the year, and we believe we will get to 700,000 bpd, not even 650,000, because all the other components that we have and all the other departments have all (reached 100%). Some are even doing up to 145%. So, we’ve done very well in that area
The RFCC is crucial for converting heavy crude oil into higher-value products such as gasoline and diesel.
Source: Getty Images
Challenges facing the refinery
Dangote warned, however, that foreign interests are actively undermining local production through aggressive importation strategies, Punch report
He noted:
“Apart from Algeria and Libya, everyone in Africa is technically an importer. Even South Africa has only one operational refinery today. If I knew what we were going to face, I wouldn’t have started it at all.
“People believe building a refinery is like building a house, but, like what I keep saying, if I knew what we were going to face, I wouldn’t have started it at all. So, the luck that we’ve had now as a group was because we didn’t know what we were getting into, really, and we believe that nothing is impossible"
Here are the current 10 Largest oil refineries in the World (by capacity) and their owners
- Jamnagar Refinery, India – 1.24 million bpd (Reliance Industries)
- Paraguana Refinery Complex, Venezuela – 940,000 bpd (PDVSA)
- SK Energy Ulsan Complex, South Korea – 900,000 bpd (SK Energy)
- Yeosu Refinery, South Korea – 840,000 bpd (GS Caltex)
- Ruwais Refinery, UAE – 827,000 bpd (ADNOC)
- Onsan Refinery, South Korea – 669,000 bpd (S-Oil Corporation)
- Dangote Refinery, Nigeria – 650,000 bpd, expanding to 700,000 bpd (Dangote Industries)
- Galveston Bay Refinery, USA – 631,000 bpd (Marathon Petroleum)
- Beaumont Refinery, USA – 630,000 bpd (ExxonMobil)
- Port Arthur Refinery, USA – 600,000 bpd (Motiva Enterprises)
Dangote Refinery sets date to end crude oil imports
Earlier, Legit.ng reported that Dangote Refinery has given a date to stop importing crude oil from the USA and other countries into Nigeria.
The Vice President of Dangote Industries Limited, Devakumar Edwin, declared that by the end of 2025, Dangote Refinery will only process Nigerian crude oil.
Edwin stated that the long-term contracts the refinery entered into with foreign suppliers will expire by the end of 2025.
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Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
