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Three foreign firms eye stakes in $15bn Dangote Refinery

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Three foreign oil companies have expressed interest in Dangote Refinery.

The Executive Director of Dangote Industries, Devakumar Edwin, who disclosed this to journalists on Sunday, said the firms are from the West and the Middle East.

Edwin said the interested firms are involved in trading and crude oil production, adding that they are specifically looking to secure crude supply agreements, a similar goal to that pursued by the Nigerian National Petroleum Corporation (NNPC).

He said: “As part of the collaboration, they (companies) want a 20 percent minority stake in Dangote refinery so they can sell their crude.”

READ ALSO:Dangote refinery to sell refined crude to Nigeria in naira – Emefiele

Ripples Nigeria had earlier reported that NNPC is presently in talks with Dangote for 20 percent refinery stake

According to the report, the 20 percent stake will provide the corporation with a minority stake in the refinery, which is expected to produce 650,000 barrels of oil per day (bpd).

The $15 billion refinery will produce 50 million litres of gasoline and 15 million litres of diesel per day.

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