corn oil refined project in nigeria

                                               
                                               
                                               
                                               
                                               
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  • Will Nigeria's biggest oil refinery boost refining capacity?
  • (AP Photo/Sunday Alamba, File) ABUJA, Nigeria (AP) ¡ª Africa¡¯s biggest oil refinery has begun production in Nigeria, the company has said, ending a yearslong wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
  • What is Nigeria's largest oil refinery?
  • It is Nigeria is Africa's largest oil refinery and the world's biggest single-train petroleum facility. The refinery cost around $19 billion and was commissioned in May 2023. Oil refining started in late December 2023, and it started dispensing products to local and international markets as of May 2024.
  • What will the Nigerian refinery produce?
  • The refinery is expected to meet 100% of all refined products required in Nigeria, and have a surplus for export. The refinery will initially produce diesel and aviation fuel and later progress to premium motor spirit.
  • Why should Nigeria invest in a private refinery?
  • ¡°But it is a great way to revive the sector ¡­ and will help move Nigeria from being a major importer of refined petroleum products to being self-reliant in domestic refining capacity.¡± Described by the company as the world¡¯s largest single-train refinery, the private refinery is owned by Africa¡¯s richest man, Nigerian industrialist Aliko Dangote.
  • When did Nigeria start refining oil?
  • Refining in Nigeria began a decade after oil was discovered in the oil-rich Niger Delta region in the 1950s. Initially starting out in 1965 with a refining capacity of 38,000 barrels per day (bpd), Nigeria's refining capacity has grown over the years and is considered the 4th largest in Africa.
  • Who owns the Nigerian oil refinery?
  • The Nigerian government through the NNPCL owns a 20% equity in the refinery valued at $2.7bn. The refinery will receive an initial 300,000 barrels of crude oil per day from the government.