https://newsletter.en.creamermedia.com
Africa|Cement|Petroleum|Refinery
Africa|Cement|Petroleum|Refinery
africa|cement|petroleum|refinery

Nigeria's Dangote refinery plans London and Lagos listings by end 2024

The Dangote oil refinery

Photo by Reuters

28th May 2024

By: Reuters

  

Font size: - +

Nigeria's Dangote refinery is aiming for a dual listing on the London and Lagos bourses by the end of this year, a senior executive said on Tuesday.

"We have listed all our businesses," Devakumar Edwin, Dangote refinery executive, told Reuters. "The NSE (Nigerian Stock Exchange) will not have adequate depth to handle exclusively the petroleum refinery. We would have to take it to LSE (London Stock Exchange) but also list in NSE."

The refinery, Africa's largest, was built on a peninsula on the outskirts of the commercial capital Lagos at a cost of $20 billion by the continent's richest man Aliko Dangote, and was completed after several years of delays.

It can refine up to 650,000 barrels per day (bpd) and will be the largest in Africa and Europe when it reaches full capacity this year or next.

Dangote has been trying to secure crude supplies for his refinery. He has interests in Cement, Flour Mills and Sugar, all listed on the Nigerian bourse.

In May, the company reached its first supply deal with TotalEnergies after it put out a tender for two million barrels of West Texas Intermediate (WTI) Midland crude every month for a year starting in July, according to tender documents.

Edited by Reuters

Comments

 

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.176 0.27s - 204pq - 2rq
Subscribe Now