Dangote and 10 more refineries in Africa may provide an immediate market for African crude oil
This comes amid a shrinking market situation as the pressure of banning fossil fuels intensify.
The refineries are reported to take over 1.7 mn bopd of crude oil from the global market in 2023. That could be a game changer for the continent's economic stability and energy security. But the ability of countries like Nigeria to pump crude oil to meet demand remains a critical concern.
Besides the Dangote Refinery (650,000 bpd), the others that may come on stream are NNPC (445,000 bpd), MIDOR expansion in Egypt (160, 000 bpd), Assiut Hydrocracker (90,000 bpd), Hassi Messaoud Refinery in Algeria (100,000 bpd), South Africa’s Astron Restart (100, 000 bpd), Cabinda Refinery of Angola (60,000 bpd) and Ghana’s Sentuo refinery (120, 000).
The Nigerian Oil and Gas Suppliers Association (NOGASA) petroleum refineries in the country, especially the Port Harcourt Refinery Company (PHRC), is supposed to start refining crude oil this month.
