Nigeria’s Dangote Petroleum Refinery has begun to make its mark on the European petrol market, according to the Organisation of the Petroleum Exporting Countries (OPEC). The refinery, which started producing petrol in September, has reduced Nigeria’s reliance on European imports and is now exporting petrol to international markets.
OPEC reports that the Dangote refinery’s operational ramp-up efforts will likely weigh on the European gasoline market, freeing up volumes for new destinations. The organisation notes that Nigeria’s gasoline production will continue to reduce imports from Europe, improving the outlook for the external sector.
The refinery, with a capacity of 650,000 barrels per day, has been ranked above the 10 biggest refineries in Europe. Its impact on the global petrol market is expected to grow as production continues to ramp up.
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