Africa’s richest man, Aliko Dangote, will begin production of oil from two assets he snapped up from Royal Dutch Shell Plc in July, adding a new source...
Africa’s richest man, Aliko Dangote, will begin production of oil from two assets he snapped up from Royal Dutch Shell Plc in July, adding a new source of income to a fast-expanding business empire., Devakumar Edwin, said Mr Dangote is working with Chinese and Malaysian contractors and has completed a development plan for the Kalaekule field on its Oil Mining Lease 72 asset.
“We are looking at the first phase of 20,000 barrels a day but our objective is to expand it to 100,000 barrels a day for the two blocks. The refinery is expected to double Nigeria’s refining capacity and while providing cost savings helps in meeting the increasing demand for fuels.
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