Ghana might purchase petroleum merchandise from Nigeria’s Dangote Oil Refinery as soon as the ability operates at full capability, decreasing the necessity for costlier imports from Europe.
The top of the nation’s oil regulator, Mustapha Abdul-Hamid, mentioned this on Monday, in response to a report by Reuters.
Abdul-Hamid, chairman of the Nationwide Petroleum Authority, said on the OTL Africa Downstream Oil Convention in Lagos that this shift might get rid of the $400 million Ghana spends month-to-month on gas imports from Europe.
He defined that importing from Nigeria would assist decrease the costs of products and providers by chopping freight prices.
“If the refinery reaches 650,000 bpd a day capability, all that quantity can’t be consumed by Nigeria alone, so as an alternative of us importing as we do proper now from Rotterdam, will probably be a lot simpler for us to import from Nigeria and I consider that can convey down our costs,” Hamid mentioned.
He additionally famous that African nations might ultimately undertake a typical forex, which might ease the demand for {dollars}.
Nairametrics beforehand reported that the Dangote Oil Refinery will provide petroleum merchandise to different West African nations and the Caribbean as soon as it begins working at full capability.
“We began producing jet gas, we’re producing diesel, by subsequent month, we’ll be producing gasoline. What that can do, will probably be capable of take most African crudes.
“Our capability is simply too large for Nigeria. Will probably be capable of provide West Africa, Central Africa and likewise Southern Africa,” Dangote advised the panel.
The Dangote refinery was accomplished by Africa’s wealthiest particular person, Aliko Dangote, with an funding of $20 billion.
Primarily, that is attributed to the nation’s lack of adequate refining infrastructure, a niche that the brand new refinery seeks to fill.
