Audio By Carbonatix
Nigeria's 650,000-barrel-per-day (bpd) Dangote oil refinery has a large surplus of jet fuel and can supply the product worldwide, Chief Executive David Bird said on Tuesday.
With demand on the African continent lower than in other regions, the refinery has a surplus to export.
"We're very grateful to be seen as a reliable, high-quality and dependable supplier able to land our product competitively all over the world," Bird said at the S&P Global Energy Middle East Petroleum and Gas Conference in London.
Jet fuel has been one of the fuels most acutely affected by the Iran war and closure of the Strait of Hormuz.
That has presented refiners based outside the Gulf region, such as Dangote, the opportunity to supply global markets. Bird said the refinery is currently running flat out at nameplate capacity.
The refinery is planning what Bird described as a "ruthless replication" project to double capacity.
"We will bring 700,000 barrels per day of fully complex refining capacity on stream by the end of 2028," Bird said, adding that long-lead items have been purchased and the company is in the process of awarding construction contracts.
The group could then lift refining capacity to 2.1 million bpd with another refinery planned in East Africa, helping it to become a significant player in crude and refined products flows, Bird said.
Nigeria has gone from fuel scarcity to absolute fuel abundance since the Dangote refinery came online, Bird said.
Latest Stories
-
Mahama renews advocacy for UN reform to grant Africa permanent representation on Security Council
17 minutes -
A national position has already been taken – Sheikh Shaibu questions renewed LGBTQ+ debate
28 minutes -
Anti-LGBTQ+ bill: Don’t turn this into a political football – Sheikh Shaibu warns NDC and NPP
47 minutes -
2026 World Cup: Let’s be positive about squad, manager – Jordan Ayew urges Ghanaians
1 hour -
Washing bay attendant remanded over alleged theft of friend’s GH¢46,306 for betting
1 hour -
Eight people killed in Mali after bus hits land mine, says union official
1 hour -
Ivory Coast sees strong exports of cocoa main crop as El Nino looms over output
2 hours -
Dangote refinery can be global jet fuel supplier, CEO says
2 hours -
Oil jumps on Mideast missiles while AI bulls carry stocks higher
2 hours -
Macron, Kagame inaugurate Rwanda genocide memorial in Paris
2 hours -
CBS News fires Scott Pelley from 60 Minutes, sources say
2 hours -
South African politician seeks US refuge on fears of future persecution
2 hours -
Zimbabwe presses ahead with bill that would extend president’s term to 2030
5 hours -
Zverev to face Mensik after ending Jodar run
5 hours -
Bellingham is No 10 in England World Cup squad
5 hours