Dangote Refinery targets full operation in 30 days

Nigeria’s Dangote Oil refinery is on the brink of reaching full operational capacity within the next 30 days, according to Edwin Devakumar, the head of the refinery. The facility is expected to produce approximately 104 million liters of petroleum products daily, focusing on white transportation fuels over residual fuel oils. Despite this promising development, concerns have been raised regarding the access to crude oil for domestic refiners in Nigeria. The Crude Oil Refinery-owners Association of Nigeria has highlighted a significant lack of access to crude oil for domestic refiners, including modular refineries, even as Nigeria's oil output exceeds 1.4 million barrels per day. Kelvin Emmanuel, CEO of Dairy Hills, shared insights on the challenges facing the industry during a recent CNBC Africa interview. The discussion touched upon the vital issue of crude oil supply to Dangote and other local refineries, questioning whether the government has the capacity or willingness to meet domestic crude obligations. Emmanuel raised concerns about the government's financing agreements and crude oil swaps, suggesting that such arrangements may be hindering domestic refining capacity and stability in the energy markets. The conversation shed light on the complexities and challenges within Nigeria's oil industry, underscoring the need for strategic solutions to ensure sustainable growth and development. As Dangote Refinery inches closer to full operation, the spotlight is on the broader issues affecting the country's oil sector and the critical role of government policies in shaping its future.