AMILOADED MEDIA HUB NEWS UPDATE
Dangote Refinery, Africa’s largest oil refinery, has moved the date of production of premium motor spirit (PMS), popularly known as petrol, from June to the middle of July.
Aliko Dangote, the President and CEO of the refinery, confirmed the new production date to the press at the $20 billion facility in Lagos on Monday.
Dangote said this was due to some minor challenges, stating that the product would be out by July 10 to 15.
“We had a bit of delay, but PMS will start coming out by 10 to 15 of July. But then we want to keep it in the tank to make sure that it settles. So by the third week of July, we’ll be able to come out to take it into the market,” Dangote had said.
Recall that Dangote, last month, disclosed that it would begin the sale of PMS in June, saying his refinery would end the importation of petrol into Nigeria.
Speaking at the recent Africa CEO Forum Annual Summit in Kigali, Rwanda, Dangote expressed optimism about transforming Africa’s energy landscape.
“Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” he declared.
“We have enough gasoline to give to at least the entire West Africa, diesel to give to West Africa and Central Africa. We have enough aviation fuel to give to the entire continent and also export some to Brazil and Mexico.
“We have started producing jet fuel, we are producing diesel, and by next month, we’ll be producing gasoline. What that will do, it will be able to take most African crude,” Dangote told the panel.
The words of Dangote appeared to have come as a soothing balm to marketers and Nigerians who are hopeful that the Dangote would crash the price of petrol from around N700 to N500 or below.
Meanwhile, the refinery has begun the supply of jet fuel and diesel to domestic marketers in the country, thereby reducing the prices of the products at the pump.
The $20 billion facility has also started exporting its first jet fuel cargo to Europe.
According to data from S&P Global Commodities at Sea, the first shipment, loaded onto the vessel “Doric Breeze,” left the Lekki Free Zone in Lagos on May 27th and is now on its way to Rotterdam, Netherlands.
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