Nigeria's oil industry faces a complex landscape marked by the exit of Western companies, declining production, and the impending launch of the massive Dangote Refinery, which promises to reshape global oil markets.
The Nigeria n oil industry has had a roller coaster of a year. In January, Shell announced that it would be exiting the West Africa n nation’s onshore oil industry after nearly a century of operations as a result of unstable and unsavory operational conditions. British supermajor Shell is just the latest western company to pull out of Nigeria ’s oil industry, which now finds itself in rapid decline.
Once the plant is up and running at full capacity, Dangote will be able to process 650,000 barrels of crude oil a day, making it competitive with the United States’ largest refineries and over 50% bigger than the largest refinery in Europe.
Oil Industry Dangote Refinery Oil Production Energy Markets Shell Exxon Mobil Eni Equinor West Africa
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