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Nigeria’s big new Dangote oil refinery will begin processing crude within the third quarter of this yr.
Mechanical work on the refinery is full and “hopefully earlier than the top of third quarter we must be out there,” Aliko Dangote, Africa’s richest man, stated 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 stated. “Full manufacturing can begin possibly, by the top of the yr or starting of 2023,” he stated.
The power, which is able to value an estimated $19 billion to construct, has an put in capability of 650 000 barrels per day. Its output might be greater than sufficient to satisfy Nigeria’s gasoline calls for and switch Africa’s largest crude producer into an exporter of refined crude.
Dangote, initially a cement tycoon, is price $20.4 billion, based on the Bloomberg Billionaires Index.
© 2022 Bloomberg
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