Business a.m
The Major Oil Marketers Association of Nigeria (MOMAN), an association of seven leading oil marketers in the country, has registered with the Dangote Petroleum Refinery to lift and distribute refined petroleum products from the $20 billion plant.
The seven major marketers poised to distribute petroleum products from the Dangote Petroleum Refinery include 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail.
The latest development comes on the heels of a statement by the Independent Petroleum Marketers Association of Nigeria (IPMAN) that its members will be meeting with the management of the Dangote refinery this week to discuss terms of product loading.
Similarly, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) stated that it had been engaging the management of the multi-billion dollar refinery for the supply of products from the facility.
The Dangote Petroleum Refinery announced the commencement of production of automotive gas oil, also known as diesel, and JetA1 or aviation fuel following the successful delivery of about six million barrels of crude oil in recent weeks.
The momentous event of the refinery’s first production of diesel and aviation fuel has been considered a shot in the arm for the Nigerian economy. For years, the country has struggled to meet domestic demand for refined petroleum products, and the new refinery promises to address this long-standing issue.
This development is also considered a significant milestone for Aliko Dangote, Africa’s richest man and president of Dangote Group, who has invested heavily in the project with the aim of making Nigeria a net exporter of refined petroleum products. Dangote’s vision is now coming to fruition, as the new refinery promises to be a game-changer for Nigeria’s energy security and economic growth. With the full commissioning of the plant, Nigeria is set to become a regional hub for refining and exporting petroleum products.
Commenting on the achievement of the refinery’s initial production,Dangote thanked President Bola Tinubu for his unwavering support and guidance., encouragement, and thoughtful advice towards the actualisation of the project.
Dangote also took the opportunity to thank the Nigerian National Petroleum Company Limited (NNPC Limited) the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The NNPC had provided assistance in the form of crude oil supplies and financial support, and the regulatory bodies had provided the necessary approvals and licenses for the project to proceed. Dangote also expressed gratitude to the people of Nigeria for their support and belief in the project, which he described as a symbol of the nation’s potential.
Dangote stated, “We thank President Bola Tinubu for his support and for making our dream come true. This production, as witnessed today, would not have been possible without his visionary leadership and prompt attention to details. His intervention at various stages cleared all impediments thereby accelerating the actualisation of the project.
We also thank the NNPC, NUPRC and NMDPRA for their support. These organisations have been our dependable partners in this historic journey. We also thank Nigerians for their belief and support in this project. We have started the production of diesel and aviation fuel, and the products will be in the market within this month once we receive regulatory approvals.”
Dangote was effusive in his praise for the country’s ability to complete such a large and complex project. He said that the completion of the refinery was a watershed moment for Nigeria, demonstrating the nation’s ability to develop and deliver large capital projects.
Dangote provided additional details about the refinery’s operations, highlighting the impressive capacity of its two single point moorings (SPMs) to receive crude oil supplies. These SPMs are located 25 kilometres off the shore of Nigeria and can receive up to two million barrels of crude oil per day. Dangote also highlighted the refinery’s ability to load 2,900 trucks per day at its truck-loading gantries, ensuring that the refined products can be quickly and efficiently distributed to markets throughout Nigeria and beyond. He stressed that the refinery’s products meet the highest environmental standards, including those set by the World Bank, US Environmental Protection Agency (EPA), the European Union, and Nigeria’s Department of Petroleum Resources (DPR). He added that the refinery uses state-of-the-art technology to ensure that its operations are safe and efficient.
Dangote petroleum refinery was designed to process 100 percent Nigerian crude oil, but it has the flexibility to process other crudes as well. This gives the refinery a competitive advantage, as it can process most crude grades from across Africa, including light and heavy crudes. In addition, the refinery can also process Middle Eastern Arab Light crude and even US Light tight oil. This flexibility allows the refinery to source crude oil from a wide range of countries, which will ensure a reliable and secure supply of crude oil for the refinery’s operations.
Being the largest petroleum refinery in Africa, the refinery is considered having the capacity to meet 100 per cent of Nigeria’s demand for refined petroleum products, including gasoline, diesel, kerosene, and aviation jet fuel.
