Aliko Dangote the CEO of Dangote Refinery has disclosed plans by his refinery to set up a terminal in the Caribbean to export petroleum products to countries in the North American region.
Dangote made this revelation on Wednesday, at Afreximbank’s Trade and Investment Forum in The Bahamas. The business mogul said the company can easily supply petroleum products to the region within 18 to 20 days.
“I know the price in the Caribbean in terms of petroleum products is very high. We produce it cheaply. We can always bring it here. We can set up a terminal and we’ll be able to fix their needs.
“We will have a bilateral agreement with them and also bringing in stuff from there is not more than 18 to 20 days maximum. And then we need to set up a terminal.
“Once we set up a terminal, they will have a very cheap oil. They will have cheap energy. And by having cheap energy, their own economy will grow faster,” Dangote said.
The Dangote refinery with a 650,000 barrel refining capacity has been described as the “game changer” of the oil and gas sector.
The refinery will be the largest in Africa and Europe once it begins full operation later next year.
