Will Nigeria’s oil refinery buy oil from outside the country?
It is not clear what agreement is in place with Nigeria’s major oil companies, but the refinery also will be looking to buy oil from outside the country if Nigeria’s limited crude production persists, Wusu added.
Could Nigeria’s oil refinery capacity be limited?
Some analysts believe the capacity of the refinery could be limited as Nigeria battles massive oil theft that has caused crude production to drop to a multidecade low in recent months, affecting government earnings and limiting capacity to execute important projects.
What is Africa’s largest oil refinery?
Nigeria’s President Muhammadu Buhari on Monday commissioned an oil plant billed as Africa’s largest oil refinery, after years of delays and a week before stepping down from office.
Could a refinery boost Africa’s fuel supply?
In addition to creating tens of thousands of jobs, authorities believe the refinery could boost fuel supplies across Africa at a time when some of its refineries are operating far below capacity.
When did rimco start a palm oil refinery?
In 1990, it did a backward integration and started the 100mt per day palm kernel crushing mill to produce the crude palm kernel oil for the refinery. Present day RIMCO further expansion with the solvent extraction Refinery recently commission by the Vice President of Nigeria, Professor Osibanjo in 2016.
Could Dangote Refinery improve transparency in the oil sector?
The refinery could also help improve transparency in the oil sector, according to Anku. "Dangote is a publicly listed company so it will be publishing information about how much crude it is purchasing and petroleum it is selling," she said, noting it as an improvement compared to the current situation where "we don’t have a lot of transparency."