• Latest
  • Trending
Aliko Dangote

Dangote oil refinery poses menace to European plants

August 3, 2018
appointments:-enugu-north-unfairly-treated-–-buhari-movement

Appointments: Enugu North unfairly treated – Buhari Movement

July 13, 2020
federal-legislator-advocates-cancellation-of-annual-recess-over-critical-bills

Federal legislator advocates cancellation of annual recess over critical bills

July 13, 2020
covid-19:-bill-gates-is-linked-to-666-–-pastor-chris-okotie-reveals-satan’s-plans

COVID-19: Bill Gates is linked to 666 – Pastor Chris Okotie reveals Satan’s plans

July 13, 2020
ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
covid-19:-ncdc-announces-discharge-of-13,447-patients,-571-new-cases

COVID-19: NCDC announces discharge of 13,447 patients, 571 new cases

July 13, 2020
magu:-buhari,-apc-against-corruption-–-spokesman,-nabena

Magu: Buhari, APC against corruption – Yekini Nabena

July 13, 2020
malami-breaks-silence-on-approving-auctioning-of-seized-oil-vessels

Malami breaks silence on approving auctioning of seized oil vessels

July 12, 2020
nigerian-troops-kill-scores-of-bandits,-rescue-kidnapped-victims-in-sokoto,-zamfara

Nigerian troops kill scores of bandits, rescue kidnapped victims in Sokoto, Zamfara

July 12, 2020
kwara-deputy-governor’s-staff-contract-covid-19

Kwara Deputy Governor’s staff contract COVID-19

July 12, 2020
how-nigerian-govt,-states,-lgs-shared-n7.8-trn-in-2019-[breakdown]

How Nigerian govt, States, LGs shared N7.8 trn in 2019

July 12, 2020
covid-19:-guidelines-for-school-reopening-in-akwa-ibom-unrealistic,-tough-–-proprietors

COVID-19: Guidelines for school reopening in Akwa Ibom unrealistic, tough – Proprietors

July 12, 2020
  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy
Sunday, January 29, 2023
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
No Result
View All Result

Dangote oil refinery poses menace to European plants

by Olalere Abolore
August 3, 2018
0
Aliko Dangote

Aliko Dangote, President/Chief Executive of the Dangote Group of Companies

830
SHARES
6.6k
VIEWS
Share on FacebookShare on Twitter

ReadAlso

Dangote in gas supply deal

The oil refinery being built in Lagos, Nigeria by Dangote Industries Limited is a menace to refineries in Europe, which Nigeria depends mostly on for gas imports, a global provider of energy and commodities information has stated. The Editorial Director, Strategic Oil Markets Development, S&P Global Platts, Andrew Bonnington, stated at the S&P Global Platts Lagos Oil & Energy Forum on Thursday that the beginning of operations at the Dangote refinery would probably lead to the closure of some European refineries. READ ALSO: We’ll roll out our forces if APC makes an attempt impeach Saraki – Tambuwal He informed our correspondent on the sidelines of the event, “In Africa, the Dangote refinery is a big story; one of the largest refineries in the world being built in Nigeria, more likely to provide most of or all of Nigeria’s consumption. That clearly has an influence on European refineries, because they export to Nigeria. “It’s unimaginable for me to say precisely what the influence might be, however it’s not factor for European refineries that Dangote refinery is being built.” Based on Bonnington, Europe is the largest supplier of petroleum products to Nigeria, with about 75 per cent of petrol consumed within the nation imported from the continent. Last week, Aliko Dangote, stated he had organized more than $4.5bn in debt financing for his refinery project and aimed to begin production in early 2020. Aliko Dangote, Africa’s richest man, is constructing a refinery with a capacity of 650,000 barrels per day to assist reduce Nigeria’s dependence on imported petroleum products. The President, Dangote Industries Limited, Aliko Dangote was quoted by Reuters as saying that lenders would commit about $3.15bn, with the World Bank’s private sector arm offering $150m, adding that he was investing more than 60 per cent from his personal money. READ ALSO: Saraki deliberately slowed down our progress – FG  “We’ll end up spending between $12bn and $14bn. The funding is going to come back by equity, commercial financial institution loans, export credit agencies and developmental banks. Hopefully, we are going to finish mechanical (construction) by next yr and products will begin popping out in the first quarter of 2020,” Dangote added.

Nigerians news

Email us @ info[at]nigerians.news
Web Hosting in Nigeria
Previous Post

Saraki intentionally slowed down our progress – Lai Mohammed

Next Post

Nigeria to become third world largest exporter of gas – Tayo Ogini

Related Posts

appointments:-enugu-north-unfairly-treated-–-buhari-movement
News

Appointments: Enugu North unfairly treated – Buhari Movement

July 13, 2020
covid-19:-bill-gates-is-linked-to-666-–-pastor-chris-okotie-reveals-satan’s-plans
Health

COVID-19: Bill Gates is linked to 666 – Pastor Chris Okotie reveals Satan’s plans

July 13, 2020
ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction
Featured

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode
Anti-corruption

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
covid-19:-ncdc-announces-discharge-of-13,447-patients,-571-new-cases
News

COVID-19: NCDC announces discharge of 13,447 patients, 571 new cases

July 13, 2020
magu:-buhari,-apc-against-corruption-–-spokesman,-nabena
Anti-corruption

Magu: Buhari, APC against corruption – Yekini Nabena

July 13, 2020
Next Post
NLNG Tanker

Nigeria to become third world largest exporter of gas - Tayo Ogini

Cheap Web hosting in Nigeria

Popular News

No Content Available

Subscribe to Nigerian's news Alert

Enter your email address to subscribe to Nigerian's news and receive notifications of new posts by email.

Join 245 other subscribers

Nigerian News

© 2019 Nigerian's news | Designed by Afeeshost

Quick Links

  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy

Follow Us

  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security

© 2019 Nigerian's news | Designed by Afeeshost

Posting....