Dangote Oil Refinery: The $20.5 Billion Threat Europe Didn’t See Coming
Dangote Oil Refinery: The $20.5 Billion Threat Europe Didn’t See Coming - For decades, Europe’s oil industry reigned supreme, exporting billions of dollars worth of refined petroleum to Africa. But what happens when a single refinery in Lagos begins to rewrite the rules of global oil trade? The answer: a transformative upheaval that’s already sending ripples through the European gasoline market and challenging longstanding dynamics.
Welcome to the era of the Dangote Refinery, a $20.5 billion game-changer owned by Aliko Dangote, Africa’s richest man. This monumental facility, which began operations in December 2023, boasts a staggering refining capacity of 650,000 barrels per day—leapfrogging Europe’s largest refineries, such as the Pernis Refinery in the Netherlands (404,000 barrels per day) and Italy’s ISAB Refinery (360,000 barrels per day). With this facility, Africa’s potential as a refining powerhouse is no longer a distant dream but a tangible reality reshaping global energy dynamics
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