Nigeria’s Dangote refinery startup in doubt
The market is growing increasingly pessimistic about the potential timeline for the ‘game-changing’ West African refinery project
Nigeria’s lack of a functioning domestic refining sector has long been something between a running joke and an acute source of national embarrassment. Formerly state-owned NNPC’s elderly refinery assets seem to be in a perennial state of refurbishment, and previous expansion plans and new developments have consistently failed to materialise—much like other large infrastructure schemes in the corruption-plagued nation. At the same time, the government’s politically essential fuel subsidy programme—which is run through NNPC—swallows up significant volumes of the country’s sizeable crude export revenues, a situation that has become particularly acute in the current price environment. Much of th
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised