Saudi Arabia is considering a business partnership with Dangote Refinery while also exploring other investment opportunities in Africa.
This hint emerged after a meeting between Mr. Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia and Chairman of Saudi’s Aramco, Mr. Khalid Al-Falih and President of Dangote Group, Aliko Dangote on Tuesday.
The Dangote Refinery is under construction in Lekki, Lagos. When complete, it is expected to have a capacity to process about 650,000 barrels per day of crude oil.
According to Dangote Group, upon completion by the end of 2020, the refinery will dedicate 53 per cent of its capacity to the production of petrol. This translates to dedicating 344,500 barrels of its projected 650,000 barrels per day refining capacity to the production of petrol.