Dangote Refinery has been ranked above Europe’s ten largest refineries in capacity, according to a report by Bloomberg.
The $20.5b Dangote Refinery, owned by Africa’s richest man, Aliko Dangote, has a processing capacity of 650,000 barrels per day. The refinery outshines Europe’s largest refinery, the Pernis Refinery, with its installed capacity of 404,000 barrels per day (bpd).
Additionally, the GOI Energy ISAB Refinery in Italy constructed with a refining capacity of 360,000 bpd, falls short compared to the Dangote facility. Others are: BP Rotterdam with 380,000 barrels, Total Energies Antwerp (338,000 barrels); Orlen Plock (327,000) barrels; Shell Rheinland (327,000 barrels); Miro (310,000 barrels); ExxonMobil Antwerp (307,000 barrels); Saras Sarroch (300,000 barrels) and Exxon Mobil Fawley (270,000 barrels per day).
In recent weeks, the plant has been shipping products while preparing two units to facilitate gasoline output.
Analysts expect this development to bring about a significant transformation in the fuel market, not only in Nigeria but also in the wider region.
However, according to economists, the Dangote Refinery might halt the decades-long gasoline trade from Europe to Africa worth $17b each year.
The refinery is currently operating at about 300,000 barrels per day, which is nearly half of its nameplate capacity, based on the average estimate provided by analysts at WoodMac, FGE, and Citac.
