Investing in timely Market for African Crude Oil 1.7 Million Barrels Per Day would be utilized in this year by Dangote Refinery and Ten African Refineries in the African Landmass
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The cost of crude oil sanded bigger on Monday January 02, 2022, as China began again to open up after the Novel Corona Virus (COVID-19) while Russia inferred at a generation cut amidst winter storm across North America.
The 1.7 million bpd is anticipated to be depleted by refineries on the mainland could be to change the narratives in storms,(160, 000 bpd), Assiut Hydrocracker (90,000 bpd) and Hassi Messaoud Refinery in Algeria (100,000 bpd).
Others are South Africa’ Astron Restart (100, 000 bpd), Cabinda Refinery of Angola, (60,000 bpd), and Ghana’s Sentuo refinery (120, 000).
The development arrives as the Nigerian Oil and Gas Suppliers Association (NOGASA) petroleum refineries in the nation, particularly the Port Harcourt Refinery Company (PHRC), is slated to commence refining crude oil last December.
NOGASA President, Benneth Korie and the Minister of State for Petroleum Resources, Timipre Sylva, have verified the timeline.
Korie said the resumption of domestic refining will alleviate the problem of Premium Motor Spirit (PMS) petrol shortage and soaring prices, Korie asserted.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent