Dangote refinery could be a global jet fuel supplier: CEO

David Bird, the Chief Executive of Nigeria's Dangote oil refining plant that produces 650,000 barrels a day (bpd), said the refinery had a surplus of jet fuel. It could supply this product to anywhere in 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 stated at the S&P Global Energy?and Gas Middle East Petroleum and Gas Conference in London that "we're grateful to be viewed as a reliable, high-quality, and dependable supplier capable of landing our product competitively throughout?the?world." Jet fuel is one of the fuels that has been most affected by the Iran War and the closure of the Strait of Hormuz. This has given refiners outside of the Gulf region like Dangote the chance to supply global markets. Bird stated that the refinery was currently operating at full capacity. Bird said the refinery was planning a "ruthless replica" project that would?double its capacity.

Bird stated that the company will be able to bring 700,000 barrels of complex refining capacity online by the end of 2028. He added that the company has already purchased long-lead products and is currently awarding construction contracts. Bird stated 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)