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المشهد العربي
Dangote Refinery forecasts extended fuel scarcity
Dangote Refinery expects the global fuel supply shortages to continue for a long period, due to damages sustained by oil refineries in the Middle East and the increased demand for reserves, along with rising operation rates and overdue maintenance. The refinery is currently operating at full capacity of 700,000 barrels per day and plans to increase production to 1.4 million barrels per day by 2029 as part of an expansion project valued at $14.3 billion, which includes the construction of a petrochemicals unit and a new refinery in Kenya, with an aim to raise $1.63 billion through an initial public offering.
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