AGS NEWS – Financial data and media company Bloomberg has placed the Dangote Refinery ahead of Europe’s top 10 largest refineries.

According to Bloomberg’s data, the refinery, located on the Lekki-Epe Expressway in Lagos State and worth $20 billion, boasts a capacity surpassing many European counterparts, refining 650,000 barrels of petroleum products per day.

The report highlights that this capacity exceeds that of Shell’s Pernis Refinery in the Netherlands, the largest in Europe, which has an installed capacity of 404,000 barrels per day.

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Other European refineries mentioned include the BP Rotterdam Refinery in the Netherlands, the GOI Energy ISAB Refinery in Italy, the TotalEnergies Antwerp refining facility in Belgium, and others.

Described as a ‘game changer,’ the Dangote Refinery is leveraging cheaper US oil imports for a significant portion of its feedstock as it commences operations.

Analysts anticipate the refinery’s impact on the Atlantic Basin gasoline markets and its transformation of the fuel market in Nigeria and the region.

Recent reports suggest that the Dangote Refinery’s operations could disrupt the decades-long petrol trade from Europe to Africa, valued at $17 billion annually.

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The refinery’s entry into the market has already led to a drop in diesel pump prices in Nigeria, signaling its potential influence on the regional energy landscape.