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Tag: Dangote Refinery

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Dangote refinery to make first fuel shipment to Asia

Dangote Refinery is set to dispatch a shipment of low-sulfur straight-run fuel oil from Nigeria to Singapore this week, marking its debut in the Asian market, according to ship tracking data and market sources. This shipment establishes a new trade route from the recently inaugurated refinery to Asia, addressing the consistent demand for low-sulfur fuel […]

Dangote Refinery loses N32.5bn after petrol price cut
Business

Dangote borrowed $5.5bn from banks to build refinery

Africa’s richest man, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank loans to construct the Dangote refinery. Dangote made this announcement on Wednesday during the ‘AfriCaribbean Trade and Investment Forum’ held in The Bahamas. Dangote explained that the loan was obtained from domestic banks across Africa based on the company’s balance […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote Refinery shifts petrol production to mid July

Dangote Refinery has advanced the production date of premium motor spirit, also known as petrol, from June to the middle of July. The President and CEO of the refinery, Aliko Dangote, the refinery’s President and CEO, announced the new production date to reporters at the $20 billion facility in Lagos on Monday, according to Nairametrics. […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote Refinery starts exportation of jet fuel to Europe – Report

Dangote Refinery has embarked on the export of its first jet fuel cargo to Europe. This is another significant milestone represented by the $20 billion refinery, which has expanded its production since it began operations in April 2023, according to Business Insider. S&P Global Commodities reported that two sources have confirmed that the Doric Breeze […]

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Dangote refinery to get valid operating licence – FG

The Federal Government has announced that it is ready to issue a fully valid operating licence to the Dangote Petroleum Refinery with a capacity of 650,000 barrels per day. This was disclosed during the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory […]

Oil and Gas

Dangote refinery to start petrol supply in Q4 – S&P analyst

Analyst at the Standard Poor’s’ Global Commodities Insights, Kelly Norway, has said that contrary to the insinuation, that Dangote refinery will start the supply of petrol next month, it projected that the company will commence the supply of petrol in the fourth quarter of this year. Norways made this disclosure in a podcast titled “Exploring […]

Dangote Refinery loses N32.5bn after petrol price cut
Oil and Gas

Price slash: Dangote denies ‘mischievous’ high sulphur diesel narrative

The Management of Dangote Industries Limited has denied the online report on the sulphur content of its diesel supplied to the Nigerian market by S&P Global. The Dangote Group stated that its refinery was built to produce the highest quality petroleum products which comply with very stringent international standards, describing these allegations as unfounded, baseless, […]

Dangote fuel will be sold in naira not dollars - IPMAN
Oil and Gas

Dangote fuel will be sold in naira not dollars – IPMAN

Juliet Buna Oil marketers clarified on Monday that the refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters. According to The PUNCH, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, admitted that it was true that […]

Dangote fuel will be sold in naira not dollars - IPMAN
featured Oil and Gas

Dangote refineries to supply 150,000 IPMAN fuel stations

The Dangote Petroleum Refinery will deliver fuel to around 150,000 retail outlets managed by the Independent Petroleum Marketers Association of Nigeria, following a meeting between refinery management and IPMAN executives. The PUNCH reported that last week Monday, IPMAN booked a meeting with Dangote refinery management to discuss the supply of products to independent marketers. The IPMAN President, Abubakar […]

Dangote refinery investors gain N1.2tn in two days
Investment

Dangote refinery investors gain N1.2tn in two days

Equity investors in the stocks of companies under the Dangote Group have gained over N1.2 trillion in the first two trading days of this week. This indicated a noticeable surge in interest in the equities of the companies listed on the Nigerian Exchange Limited after the Dangote Petrochemical Refinery started producing. Economic Confidential stated that Dangote […]

Dangote refinery investors gain N1.2tn in two days
featured

Dangote to begin production as crude supply hits 6 million barrels

The Dangote Petroleum Refinery stated on Monday that it is ready to begin producing refined petroleum products after receiving the 6th batch of one million barrels of crude oil needed for the plant’s starting operations. According to The PUNCH, “Dangote refinery appears set to commence production of refined petroleum products with the receipt of the […]