Dangote refinery has been ranked above the 10 biggest refineries in Europe. This was revealed in a report compiled by Bloomberg, a business news platform and financial data and media company. Due to its large capacity, the refinery is ranked above numerous European refineries.
Dangote’s $20bn-worth refinery in Lekki-Epe Expressway, Lagos State, is said to have the capacity to refine 650,000 barrels of petroleum products daily. This is approximately 246,00bpd capacity, more than the Netherlands Shell’s Pernis Refinery.
A report recorded that the Pernis Refinery, with a capacity of 404,000bpd, is the biggest in Europe, followed by Shell’sShell’s Pernis Refinery in the Netherlands, which has a capacity of 380,000.
According to Bloomberg, the GOI Energy ISAB Refinery in Italy has a refining capacity of 360,000bpd while the TotalEnergies Antwerp refinery in Belgium can refine 338,000bpd.
Other refineries with their capacities on the lists include the popular Orlen Plock Refinery in Poland with 327,000bpd, Shell’sShell’s Rheinland in Germany with 327,000bpd, Miro Refinery in Germany with 310,000 capacity,
Saras Sarroch Refinery in Italy has a 300,000-bpd capacity, ExxonMobil Fawley in England has a 270,000-bpd capacity, and ExxonMobil Anterwep Refinery in Belgium has a 307,000-bpd capacity.
Dangote refinery has been described as a game changer. It started by leveraging the United States’ cheap oil imports for as much as a third of its feedstock.
An analysis by a soil expert, Alan Gelder, states that “”Dangote is going to influence Atlantic Basin gasoline markets this summer and for the rest of the year,“”
Reuters also reported that Dangote oil refinery is the beginning of the end of the $17 billion yearly decades-long petrol trade from Europe to Africa.
Presently, Dangote refinery has begun distribution and sales of diesel into the Nigerian market reducing the pump price from N1,600 to N940.
