Dangote refinery’ll account for half of Africa’s oil – OPEC

Joy Onuorah
Joy Onuorah

The capacity of the Dangote Refinery, according to the Organization of Petroleum Exporting Countries, will account for more than half of Africa’s expected distillation additions in the medium term.

This was stated by OPEC in its latest World Oil Outlook, which Nairametrics saw on October 31.

OPEC estimates that Arica’s distillation additions in the medium term will be 1.2 million barrels per day. With a daily capacity of 650, 000 barrels, Dangote Refinery will account for half of this total.

Africa’s anticipated refinery projects include: The Dangote Refinery is the largest of all the refinery additions expected in Africa over the medium term. Other anticipated African refining projects, in addition to the Dangote Refinery, include: The 100 tb/d refinery to be built in Soyo, Angola, the 110 tb/d Hassi Messaoud refinery expansion in Algeria, the 160 tb/d Midor refinery expansion in Egypt, the 10 tb/d Brahms modular refinery in Guinea, and the 110 tb/d Pointe Noire II refinery in the Republic of Congo.

Ghana and Senegal are also expected to commission new units, most of which are modular.

These new refinery projects, particularly the Dangote Refinery, according to OPEC, could help meet Africa’s rapidly growing demand.

These additions would not only help meet rising demand, but would also assist some countries in reducing product imports.

The continent’s main challenges in building the required capacity on time continue to be continuous competition from product inflows from other markets, as well as issues with project financing and completion.

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