Business News of Friday, 17 January 2025

Source: www.mynigeria.com

Dangote refinery targets 650,000bpd output by June

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The Dangote Petroleum Refinery has disclosed plans to import additional crude oil to supplement supplies from the Nigerian National Petroleum Company Limited (NNPCL), which is not sufficient to meet fuel production needs at its $20 billion facility in Lagos.

The refinery officials stated that production has already increased to approximately 500,000 barrels per day (bpd), with a target of reaching the full capacity of 650,000 bpd by June 2025.

The NNPC already has challenges supplying 350,000 barrels per day (bpd) from the 450,000 bpd allocated for domestic consumption to support the Dangote Refinery’s 650,000 bpd capacity.

As the refinery is currently producing 500,000 bpd, officials stressed that it is necessary to source additional feedstock from international markets to maintain and expand operations.

They clarified that the issue is not NNPC's inability to supply crude but getting the required volume to bring production up to full capacity.