Dangote Oil Refinery Could Bring An End To Gasoline Trade From Europe

Nigeria’s giant Dangote oil refinery could bring to an end a decades-long gasoline trade from Europe to Africa worth $17 billion a year, heaping pressure on European refineries already at risk of closure from heightened competition, analysts and traders have told Reuters.

The refinery started production in January and cost $20 billion to build. It can refine up to 650,000 barrels per day (bpd) and will be the largest in Africa and Europe when it reaches full capacity this or next year.

It has long been touted as the turning point for Nigeria’s quest for energy independence. Nigeria is Africa’s most populous nation and its top oil producer, yet it imports almost all its fuel due to lack of refining capacity.
About a third of Europe’s 1.33 million bpd average gasoline exports in 2023 went to West Africa, a bigger chunk than any other region, with the majority of those exports ending up in Nigeria, Kpler data shows.