Dangote Refinery is at the moment the best news in the downstream segment of the petroleum industry in Nigeria, and Africa. Dee Jones, Hi-Rev Oil Limited, Starex Petroleum Refinery Limited, Eko Petrochem & Refining Company Limited, Petrolex Oil & Gas Limited, Ikwe-Onna Refinery Limited, Clean Waters Refinery, Southwest Refineries and Petrochemicals Company Limited, Obat Refinery Limited, and Antonio Oil Company Limited. The Dangote Refinery is expected to produce a variety of light and medium grades of crude in accordance with Euro V specifications. While Dangote’s entrance broke this monopoly, most stakeholders have expressed fears that the development only means replacing government monopoly with private sector monopoly. Energy expert, Ademola Adigun, said while the Dangote Refinery remained positive for the economy and an elixir for the midstream and downstream segments of the industry, “there is still a need for clarity in some areas.

Source: The Guardian June 04, 2023 09:21 UTC