When the Dangote refinery comes on stream and starts production by the middle of next year, Nigeria will be refining about 1.3 million barrels of crude oil daily, the Nigerian National Petroleum Corporation announced on Wednesday.
The Chairman, Senate Committee on Petroleum Resources, Upstream, Senator Bassey Albert, also announced that the National Assembly would send the harmonised version of the recently passed Petroleum Industry Bill to the President for assent by next week.
Speaking at the ongoing 20th Nigeria Oil and Gas conference, the Chief Operating Officer, Refineries, NNPC, Mustapha Yakubu, said the Dangote refinery, projected to come on stream by mid-2021, would boost the country’s petrol export drive.
Dangote refinery, which is under construction in Lagos, has a capacity to process 650,000 barrels per day of crude oil.
The facility is expected to be Africa’s biggest oil refinery and the world’s biggest single-train plant upon completion.
Yakubu explained that with the huge crude refining capacity of the refinery and the contributions from modular refineries and those from NNPC, which were being revamped, the country would be refining about 1.3 million barrels of crude oil daily.
He said, “Today the Dangote refinery is nearing completion, very huge plant of 650,000 barrels capacity. That is very huge for us as NNPC.
“And in terms of our crude production, if you add the 445,000 barrels of NNPC to the 650,000 barrels and also cumulate the ongoing efforts in terms of modular refineries, I think we will be talking about 1.3 million barrels of crude oil per day. That’s a lot.
“So, the only way is for us to key into that and also, it is for the energy security of this country.”
Yakubu observed that the Dangote refinery would also need the NNPC as it would need crude oil from Nigeria, adding that the corporation and Dangote must collaborate.
Asked whether the inauguration of the Dangote refinery was close, the COO replied, “I think the plant will come on stream by the middle of next year.”
The Group Managing Director, NNPC, Mele Kyari, recently announced that the corporation would acquire 20 per cent stake in the Dangote refinery, adding that the national oil firm would recover its cost in the refinery in five years.
On the PIB, the senator said before Tuesday next week, the two arms of the National Assembly would ensure that the bill was harmonised for transmission to the President for assent.
“Between now and Tuesday the two arms of the National Assembly would have harmonised the bill and it will be presented to the presidency before the end of next week,” Albert said.
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