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Nigeria’s big new Dangote oil refinery will begin processing crude within the third quarter of this 12 months.
Mechanical work on the refinery is full and “hopefully earlier than the tip of third quarter we must be available in the market,” Aliko Dangote, Africa’s richest man, mentioned in a briefing on the plant web site in Lagos.
The plant will begin with a processing capability of 540 000 barrels a day, Dangote mentioned. “Full manufacturing can begin perhaps, by the tip of the 12 months or starting of 2023,” he mentioned.
The ability, which can value an estimated $19 billion to construct, has an put in capability of 650 000 barrels per day. Its output will likely be greater than sufficient to fulfill Nigeria’s gasoline calls for and switch Africa’s largest crude producer into an exporter of refined crude.
Dangote, initially a cement tycoon, is value $20.4 billion, in line with the Bloomberg Billionaires Index.
© 2022 Bloomberg
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