• About Us
    • Àtẹ́lẹwọ́ Podcast
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home Business & Finance Business

Dangote refinery expands crude storage capacity by over 6 million barrels

Quadri Olaitan by Quadri Olaitan
January 10, 2025
in Business
0
Dangote refinery crude storage expansion
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0

Dangote Refinery increases crude oil storage capacity by over 6 million barrels, addressing supply challenges and boosting operations.

 

 

[dropcap]T[/dropcap]he Dangote Petroleum Refinery has embarked on an ambitious expansion project to build eight additional storage tanks, boosting its crude oil storage capacity by 6.29 million barrels—equivalent to 1 billion litres.

This move aims to counter supply disruptions from the Nigerian National Petroleum Company Limited (NNPC).

The $20 billion refinery is ramping up its infrastructure to stockpile imported crude oil as local supply challenges persist.

Currently, the facility has 20 storage tanks with a capacity of 120 million litres each, totalling 2.4 billion litres. Once the new tanks are completed, the refinery’s total crude oil storage capacity will rise to 3.4 billion litres—a 41.67% increase.

Devakumar Edwin, Vice President in charge of oil and gas business at Dangote Industries, cited insufficient crude supply from the NNPC as a major factor driving the decision to import crude.

“Importing crude from other countries instead of buying locally means that our crude stockpiles will have to be higher.

So, we have started building eight additional crude tanks to hold a billion litres, over and above our original storage capacity. Four of them are nearing completion,” Edwin stated.

Despite being Africa’s largest oil producer, Nigeria has grappled with underinvestment, pipeline vandalism, and theft, leading to production outages.

The country’s crude oil output reached 1.45 million barrels per day in November 2024, just shy of its 1.5 mbpd OPEC quota.

The expansion of Dangote’s storage facilities comes amid speculation about the future of the naira-for-crude initiative launched by President Bola Tinubu.

Introduced in October 2024, the policy allowed the sale of 385,000 barrels per day of crude oil to the Dangote Refinery and other local facilities in exchange for naira payments.

While Aliko Dangote, President of the Dangote Group, credited the initiative for reducing petroleum product prices in Nigeria, reports suggest that the refinery continues to face challenges with crude supply.

The facility had experienced months of shortages before the naira-for-crude programme commenced.

Since beginning diesel and aviation fuel production in January 2024 and petrol production in September 2024, the Dangote Refinery has supplied products to both domestic and international markets.

The refinery’s refined product tanks, with a total capacity of 2.34 billion litres, play a vital role in supporting its operations.

With the expansion of its crude storage capacity, Dangote Refinery aims to mitigate supply chain risks, ensuring consistent operations and contributing to Nigeria’s energy independence.

This development underscores the refinery’s commitment to scaling up production and stabilising fuel supplies amid persistent challenges in the local oil sector.

Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Quadri Olaitan
Quadri Olaitan

Discover more from Freelanews

Subscribe to get the latest posts sent to your email.

Related Posts

Freelanews-
Appointments

‘Congrats’ NOVA Merchant Bank appoints new directors

by Freelanews
August 8, 2022
NERC announces take off of N21bn electricity meters MAF scheme
Business

NERC announces take off of N21bn electricity meters MAF scheme

by Quadri Olaitan
June 22, 2024
fccpc
Business

‘Violating the rights of consumers’ FCCPC freezes accounts of digital money lending institutions

by Rtn. Victor Ojelabi
March 16, 2022
Untitled 1 40
Sustainability

‘Golden heart’ BewiAfrica donates foods, sensitises public on drug abuse (Photos)

by Freelanews
June 27, 2020
templates
Stock

‘In top and bottom lines’ UBA records strong double digit growth, declares N0.20k interim dividend

by Rtn. Victor Ojelabi
September 8, 2022

Discussion about this post

ADVERTISEMENT

Recent News

Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
Ikechukwu N arrest

Ikechukwu N arrest shocks Argentina after INTERPOL raid

October 8, 2025
CBN monetary stability

CBN assures Nigerians of monetary stability progress

October 8, 2025
Uche Nnaji resignation

BREAKING! Tinubu’s Minister, Uche Nnaji resigns over certificate forgery allegations

October 7, 2025

Search

  • Trending
  • Comments
  • Latest
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
Abdul-Muiz Olanrewaju Animashaun

Abdul-Muiz Olanrewaju Animashaun remembered with love

September 14, 2025
Taylor Swift deepfake scandal

Taylor Swift faces deepfake scandal as Swifties call for stricter regulation

January 25, 2024
April Wind Couture

April Wind Couture thrives in Nigeria’s tough economy with bold Ankara vision

September 12, 2025
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

0
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

0
Meran Primary Health Centre

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

0
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

0
Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
Ikechukwu N arrest

Ikechukwu N arrest shocks Argentina after INTERPOL raid

October 8, 2025
CBN monetary stability

CBN assures Nigerians of monetary stability progress

October 8, 2025
Uche Nnaji resignation

BREAKING! Tinubu’s Minister, Uche Nnaji resigns over certificate forgery allegations

October 7, 2025
October 2025
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728293031 
« Sep    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Follow Us

  • Facebook
  • TikTok
  • YouTube
  • Instagram

Editor’s Pick

  • OGD vs DA
    OGD vs DA: The real story never told
    • August 22, 2025
  • Toyota Sienna harassment
    Why is Lagos State govt harassing Toyota Sienna users?
    • August 19, 2025
  • Otunba Gbenga Daniel
    Who really is Otunba Gbenga Daniel?
    • August 18, 2025

Hot!

Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
Ikechukwu N arrest

Ikechukwu N arrest shocks Argentina after INTERPOL raid

October 8, 2025
No Result
View All Result
  • About Us
  • Contact
  • Advertisement
  • Sitemap

© 2025 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Total
0
Share
0
0
0
0
0
0
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2025 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Discover more from Freelanews

Subscribe now to keep reading and get access to the full archive.

Continue reading