News
Dangote Refinery Outranks Top European Refineries In Capacity
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Bloomberg ranks Dangote Refinery above the 10 biggest refineries in Europe
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With a capacity of 650,000 barrels per day, Dangote Refinery surpasses Shell’s Pernis Refinery, Europe’s largest
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The $20 billion refinery is described as a “game changer” and is expected to transform fuel markets in Nigeria and the region
Eko Hot Blog reports that a financial data and media company, Bloomberg, has ranked the Dangote Refinery above the top 10 biggest refineries in Europe.
According to data compiled by the business news platform, the refinery has more capacity than many European ones.
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The $20bn-worth refinery located in Lekki-Epe Expressway, Lagos State, can refine 650,000 barrels of petroleum products per day.
The report stated that this is over 246,000bpd capacity, more than Shell’s Pernis Refinery, which is located in the Netherlands and has an installed capacity of 404,000bpd, the biggest in Europe.
Bloomberg also reported that the GOI Energy ISAB Refinery in Italy was built with a refining capacity of 360,000bpd, while the TotalEnergies Antwerp refining facility in Belgium can refine 338,000bpd.
Other refineries listed in the report include the Orlen Plock Refinery in Poland with 327,000bpd, Shell’s Rheinland in Germany with 327,000bpd, and the Miro Refinery in Germany with 310,000bpd capacity.
The report described the Dangote Refinery as a “game changer” and said it was taking advantage of cheaper US oil imports for as much as a third of its feedstock as it started up.
According to analysts, the refinery has been shipping products in recent weeks while readying two units to enable petrol output, which will deliver a long-promised transformation of the fuel market in Nigeria and the region.
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Reuters recently reported that the Dangote oil refinery could end a decades-long petrol trade from Europe to Africa, worth $17 billion a year, heaping pressure on European refineries already at risk of closure from heightened competition.
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