In a strategic move to ensure sustainable operations, the Dangote Petroleum Refinery is constructing eight additional crude oil storage tanks. This expansion is part of the refinery’s comprehensive $20 billion investment to increase its storage capacity and meet growing demand for refined products.
The new tanks, expected to raise the refinery’s storage capacity by 6.29 million barrels (approximately 1 billion litres), are being built in response to the increasing reliance on imported crude oil, driven by irregular local supply deliveries from the Nigerian National Petroleum Company Limited (NNPCL).
With the expansion, Dangote Refinery’s total crude oil storage capacity will grow by 41.67%, reaching a remarkable 3.4 billion litres, further solidifying the refinery’s pivotal role in Nigeria’s oil and gas industry. According to Devakumar Edwin, Vice President overseeing oil and gas operations at Dangote Industries, the decision to import crude from other nations has made it crucial to stockpile larger volumes of crude oil.
“The construction of these additional tanks is vital to maintaining a steady supply of refined products for the Nigerian market, as we strive to reduce the nation’s dependence on imported fuel and ensure an uninterrupted flow of gasoline for local consumption,” Edwin explained. “Four of the eight tanks are nearing completion, and once finished, they will bolster our refinery’s capability to meet the growing demand for petroleum products.”
Currently, the Dangote Refinery houses 20 crude storage tanks, each with a capacity of 120 million litres, amounting to 2.4 billion litres. The refinery’s refined product tanks add a further 2.34 billion litres of capacity, positioning Dangote Refinery as a leading player in the Nigerian oil and gas sector.
How Many Barrels Will Dangote Refinery Produce?
With the expansion, Dangote Refinery’s capacity will increase to 3.4 billion litres, which is equivalent to approximately 21.3 million barrels. This substantial increase in storage and production capacity enables the refinery to meet both local and international demands, positioning it as a key player in the global oil market.
As the refinery continues to ramp up production, it is gaining recognition among Nigerian vehicle owners, who are already benefitting from the increased availability of high-quality, locally refined petrol. This move highlights Dangote Refinery’s commitment to contributing to Nigeria’s economic growth, creating jobs, and ensuring energy security for the future.
This expansion not only signifies progress for Nigeria but also demonstrates Dangote Refinery’s global competitiveness in the ever-evolving energy landscape.
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