Bloomberg’s latest rankings have placed the Dangote Refinery in a league above the top 10 largest refineries in Europe, highlighting its superior capacity and game-changing impact on the global oil market.
Located on the Lekki-Epe Expressway in Lagos State, the $20 billion refinery boasts a staggering capacity of 650,000 barrels per day, eclipsing many European counterparts.
Surpassing Shell’s Pernis Refinery in the Netherlands, which has an installed capacity of 404,000 barrels per day, Dangote’s refinery is reshaping the industry landscape.
Other European refineries listed, including the BP Rotterdam Refinery in the Netherlands and the TotalEnergies Antwerp facility in Belgium, pale in comparison to Dangote’s impressive output.
Described as a ‘game changer,’ the Dangote Refinery has already begun shipping products and is poised to transform the fuel market in Nigeria and beyond.
Analysts anticipate a significant influence on Atlantic Basin gasoline markets, with the refinery’s current operation at approximately 300,000 barrels per day.
As it ramps up to full capacity, it threatens to disrupt Europe’s petrol trade to Africa, worth $17 billion annually.
With diesel prices plummeting in Nigeria following the refinery’s entry into the market, the ripple effects of Dangote’s ascendancy are reverberating across the continent, signaling a new era in oil refining and distribution.
