Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Mechanical work on Dangote Refinery for completion next year 

    Mechanical work on Dangote Refinery for completion next year 

    August 5, 2018
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Dangote Refinery and Petrochemicals plant

    05 August 2018, Sweetcrude, Lagos — Mechanical work on the Dangote Refinery in the Lekki area of Lagos would be completed next year, in readiness for the takeoff of the plant in 2020.

    Africa’s riches man and promoter of the refinery project, Aliko Dangote, revealed this as he revealed funding plan for the multi-billion dollar project.

    Dangote, who said he has arranged more than $4.5 billion in debt financing for the 650,000 barrels per day plant, said products will start rolling out of plant in the first quarter of 2020.

    “We will end up spending between $12 billion to $14 billion. The funding is going to come through equity, commercial bank loans, export credit agencies and developmental banks,” Dangote said in an interview in Lagos.

    “Hopefully, we will finish mechanical (construction) by next year and products will start coming out in the first quarter of 2020.”

    The refining plant being constructed by Dangote Oil Refinery Company is an integrated refinery and petrochemical complex in the Lekki Free Zone near Lagos.

     When completed, the refinery will reduce Nigeria’s dependence on imported petroleum, because, despite being a crude oil exporter, Nigeria imports the bulk of its petroleum due to lack of domestic refining capacity.

    The Dangote plant is expected to produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.

    The project is expected to generate 9,500 direct and 25,000 indirect jobs.

    Related News

    Russia plans to compensate for oil overproduction in August-September

    Russia’s fuel export revenue in June fell 14% from last year, IEA says

    US OKs exchange with Exxon Mobil to aid Gulf Coast supplies

    E-book
    Resilience Exhibition

    Latest News

    Russia’s Novatek says Q2 gas output up 2.8% y/y

    July 12, 2025

    LNG Canada’s start-up yet to lift gas prices amid supply glut

    July 12, 2025

    Russia plans to compensate for oil overproduction in August-September

    July 12, 2025

    Taiwan’s CPC Corp eyes US shale gas assets, sources say

    July 12, 2025

    China sets its first renewable standards for steel, cement and polysilicon

    July 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.