Connect with us

Nigeria In One Minute

Dangote oil refinery poses threat to European plants

Published

on

The crude oil refinery being built in Lagos by Dangote Industries Limited is a threat to refineries in Europe, which Nigeria relies mostly on for fuel imports, a global provider of energy and commodities information has said.

The Editorial Director, Strategic Oil Markets Development, S&P Global Platts, Andrew Bonnington, said at the S&P Global Platts Lagos Oil & Energy Forum on Thursday that the start of operations at the Dangote refinery would likely lead to the closure of some European refineries.

He told The PUNCH correspondent on the sidelines of the event, “In Africa, the Dangote refinery is a huge story; one of the biggest refineries in the world being built in Nigeria, likely to supply most of or all of Nigeria’s consumption. That clearly has an impact on European refineries, because they export to Nigeria.

“It is impossible for me to say exactly what the impact will be, but it is not a good thing for European refineries that Dangote refinery is being built.”
The PUNCH, August 3, 2018

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now