Bloomberg, a financial data and media company, has ranked the Dangote Refinery among the top 10 largest refineries in Europe.
According to Bloomberg’s analysis, the refinery, situated in Lagos State along the Lekki-Epe Expressway and valued at $20 billion, boasts a refining capacity exceeding many European counterparts.
The refinery can process up to 650,000 barrels of petroleum products per day, surpassing the capacity of Shell’s Pernis Refinery in the Netherlands by over 246,000 barrels per day. Shell’s Pernis Refinery, Europe’s largest, has an installed capacity of 404,000 barrels per day, while the BP Rotterdam Refinery in the Netherlands follows closely with a capacity of 380,000 barrels per day.
Other notable European refineries mentioned in the report include the GOI Energy ISAB Refinery in Italy, capable of refining 360,000 barrels per day, and the TotalEnergies Antwerp facility in Belgium, with a refining capacity of 338,000 barrels per day.
The Dangote Refinery’s significant capacity marks a shift in the refining landscape, heralding it as a ‘game changer’ in the industry. The refinery’s strategic location and utilization of cheaper US oil imports contribute to its competitive advantage.
Analysts predict that the refinery, currently operating at approximately 300,000 barrels per day, will have a transformative impact on Nigeria’s fuel market and the wider region. It has already begun shipping jet fuel, diesel, and naphtha, with plans to expand its product range further.