Dangote refinery could be a global jet fuel supplier: CEO

Chief Executive David Bird stated on Tuesday that the Nigerian Dangote oil refining facility, which produces?650,000 barrels per day (bpd), possesses a large amount of jet fuel. The refinery can supply the product to?all?of?the?world.

The refinery is able to export a surplus because the demand for oil on the African continent is lower than in other regions.

Bird said, "We are very grateful that we're seen as a reliable and high-quality?supplier able?to land our product at a competitive price all over the globe," at the S&P Global Energy Middle East Petroleum and Gas?Conference held in London. Jet fuel was one of the fuels that has been most affected by the?Iran war and the closure of the?Strait of Hormuz. Dangote and other refiners outside of the Gulf region have been able to access global markets. Bird stated that the refinery was currently operating at full capacity. Bird said that the refinery plans to "ruthlessly replicate" its capacity.

Bird stated that the company will be able to bring 700,000 barrels of complex refining on stream by 2028. The company has already purchased long-lead products and is currently awarding construction contracts. Bird said that the group would then be able to increase its refining capacity by 2.1 million barrels per day with an additional refinery in East Africa. This would help it become a major player in the?crude products and refined product flows.

Bird stated that since the Dangote Refinery was put into operation, Nigeria has moved from a fuel scarcity to a fuel abundance.

(source: Reuters)