Dangote Refinery Aims to Produce 550,000 Barrels Per Day by Year End

Nigeria’s Dangote Refinery plans to hit at least 60% of its installed capacity by September and reach 550,000 barrels a day by the end of the year, owner Aliko Dangote said.

The refinery, which produces about half of its 650,000 barrel-per-day capacity at present, intends to start production of gasoline from August, Dangote, who is Africa’s richest man, said Saturday. That will help raise its capacity.

Dangote Refinery took in more than 41 million barrels of feedstock in the first half of the year as it completed test runs and gradually increased processing rates, tanker-tracking data show. Of that, about a quarter has been American supply.

Dangote bought more than 16 million barrels of West Texas Intermediate crude oil so far this year.

The refinery currently produces diesel and aviation fuel. When fully operational, it will be able to meet Nigeria’s refined products needs and still have enough for exports.

Nigeria, Africa’s biggest crude producer, is expected to become a net exporter of refined products by the end of the year when the refinery is fully operational.

Nigeria imported nearly all its refined products until early this year when the Dangote Refinery started producing diesel for domestic markets.