https://nairametrics.com/2021/05/27/nnpc-to-purchase-20-equity-stake-in-dangote-refinery/?amp
Dangote Oil Refinery has been listed among the world’s top 20 influential projects surveyed in the last 18 months by the renowned Project Management Institute (PMI).
PMI, which disclosed this recently in its annual list of Influential Projects for 2020, said that “Most Influential Projects” highlights compelling projects around the world and across industries that achieved significant milestones and impacted the society.
https://guardian.ng/business-services/dangote-refinery-among-20-worlds-most-influential-projects/
Dangote Sugar Refinery (DSR) Plc has grown its profit after tax for the nine months ended September 30, 2020, by 81 per cent, thereby giving shareholders reason to salivate ahead of the end of the financial year.
https://www.thebizhub.ng/2020/11/03/dangote-sugar-refinery-grows-nine-months-profit-by-81-to-n27bn/
#Nigeria - 21st November, 2023
##Dangote Refinery
The Dangote Refinery first, and so-far only large oil refinery owned completely by private industry in Nigeria. Owned and operated by Dangote Group, the industrial conglomerate founded by the richest man in Nigeria (and Africa), Aliko Dangote, it has a refining capacity of 650'000 barrels of oil a day. Construction work began in 2017, the first refining operations scheduled to commence in 2020. This year the plant has reached its goal for full-scale operations, achieving an annual capacity of 90% operations, meaning that it has refined, on average, more than 580'000 barrels of oil a day since the beginning of 2023.
The plant is the world's largest single-track refining plant, and it more than doubles Nigeria's domestic refining capacity.
The two NNPC refining plants, at Warri and Port Harcourt respectively have a combined capacity of 445'000 barrels. However, due to mismanagement and the age of the plants capacity is actually only around 1/3 of that, with daily capacity across the two plants. Until the Dangote Refinery reached full capacity, domestic capabilities were between 125'000-150'000. This means that Dangote Refinery has infact nearly quadrupled domestic capacity. And now of the 1.8mn barrels of oil produced in Nigeria each day, around 600'000 or 1/3rd are processed domestically.
Pumping stations across Nigeria are now entering into something of a price war, as a glut of domestically produced petrol and diesel begins to bring down fuel prices at the pump.
##Upstream Auction
Nigeria's recent divestment of NNPC's upstream assets has gone reasonably well. With partners such as Exxon Mobil and Agip choosing to buy out NNPC's shares in their respective joint-ventures. One upstream ventures was not fully divested however. Shell only elected to buy slightly less than half of the NNPC's share in its concession, giving it a controlling stake but leaving NNPC in control of 30% of that industry. Now the NNPC will move onto the second phase of its Upstream divestment, and sell those shares to the highest bidder, the concessions for sale are as follows:
| Concession | Ownership | Minimum Price | Production (Barrel/Day) | |:-:
... keep reading on reddit ➡Ahead of Dangote Refinery takeoff, a fresh revelation has emerged that the project will not reduce the cost of Premium Motor Spirit (PMS), popularly known as petrol. The pump price of petrol would not drop significantly even if Nigeria is refining crude oil locally.
The Dangote refinery is expected to commence operations next year with a refining capacity 650,000 barrels of crude oil per day.
https://www.vanguardngr.com/2020/09/dangote-refinery-will-not-reduce-price-of-petrol-%E2%80%95-fg/
