Latest news with #DangoteOilRefinery
Time of India
29-05-2025
- Business
- Time of India
EIL records ₹8,214 cr order inflow in FY25; PAT highest in 10 years at ₹465 cr
New Delhi: Engineers India Limited (EIL) recorded an all-time high order inflow of ₹8,214 crore in FY2024-25, resulting in a total order book of approximately ₹11,700 crore. The standalone profit after tax (PAT) for the fiscal stood at ₹465 crore, the highest in the last ten years. The consultancy segment accounted for 56 per cent of the order inflow, while 36 per cent came from energy efficient infrastructure projects, including high-end data centres, laboratories, and academic complexes. Around 36 per cent of the business was secured through competitive bidding. EIL's international business contributed ₹1,077 crore, the highest in the last decade. The company was involved in key overseas projects, including the Dangote Oil Refinery in Nigeria, and ongoing engagements in Mongolia, Bahrain, Kuwait, Oman, Guyana, and several countries in Africa. The company is expanding its UAE office to serve as a regional hub and is working to open a new office in Saudi Arabia. In the green energy sector, EIL is implementing a biorefinery project for ABRPL in Assam and is developing ethanol projects for NRL and NTPC. It is also setting up a Bio-ATF facility for MRPL and has provided EPCM services for a 10 MW green hydrogen production facility in Vijaipur, Uttar Pradesh, for GAIL. EIL signed multiple Memorandums of Understanding (MoUs) during the fiscal year, including agreements with BP, Sunrise CSP, Munition India Limited, Rail Vikas Nigam Limited, and Detect Technologies. These collaborations cover areas such as refining, concentrated solar technology, defence sector infrastructure, railway redevelopment, and AI-based video analytics. The company enlisted 11 new indigenous suppliers and 46 MSME suppliers during the fiscal. Domestic supplies accounted for 95 per cent in the refinery segment and 82 per cent in petrochemicals. Under its startup initiative EngSUI, EIL committed over ₹20 crore in funding, with ₹12 crore disbursed to date. The company filed 27 patents and 3 trademarks during FY25 and is registered with ADNOC for licensing technologies including Sulphur Recovery Units and Gas Sweetening Units.
Business Insider
14-05-2025
- Business
- Business Insider
Dangote refinery cancels June maintenance plan for gasoline section
Nigeria's Dangote Oil Refinery has reportedly cancelled planned maintenance on its 204,000 barrels-per-day gasoline-producing unit for June. Dangote Oil Refinery canceled planned June maintenance after conducting necessary work during an unplanned shutdown. The refinery commenced production of diesel, naphtha, jet fuel, and gasoline in phases since January last year. Economists forecast the refinery's operations may significantly disrupt European-Africa gasoline trade valued at $17 billion annually. Nigeria's Dangote Oil Refinery has reportedly cancelled planned maintenance on its 204,000 barrels-per-day gasoline-producing unit for June, having carried out the necessary work during an unplanned shutdown from April 7 to May 11, according to industry tracker IIR. Dangote Refinery had originally scheduled a 30-day maintenance shutdown in June for its gasoline-producing Residue Fluid Catalytic Cracking (RFCC) unit. The refinery has since pushed back on reports of the unit being under unplanned repair, stating that such claims are not entirely accurate. According to data from shipping analytics firm Kpler, during the unplanned outage, the refinery ramped up exports of residual products such as straight run fuel oil, while shipments of finished fuels like jet fuel and gasoil declined. Dangote refinery The 650,000-barrel-per-day refinery, built by Africa's richest man, Aliko Dangote, began producing diesel, naphtha, and jet fuel in January last year, followed by petrol production in September. The refinery aims to compete with European suppliers, though it has faced challenges in securing enough crude locally. According to the Organisation of the Petroleum Exporting Countries (OPEC), Dangote's oil push in Nigeria is already starting to disrupt the European oil market.
Reuters
19-03-2025
- Business
- Reuters
Nigeria's Dangote Refinery says it will suspend fuel sales in local currency
LAGOS, March 19 (Reuters) - Nigeria's Dangote Oil Refinery announced on Wednesday that it was temporarily suspending fuel sales in the local naira currency to avoid a mismatch between sales in naira and purchases of crude in dollars. The decision by the 650,000-barrel-per-day Dangote Refinery to price its gasoline in dollars could lead to a hike in the gasoline prices and a weakening of the naira as local fuel traders scramble for greenbacks. The refinery on the outskirts of Lagos has struggled to secure sufficient crude volumes under an arrangement by the Nigerian government to sell it crude in naira. "To date, our sales of petroleum products in Naira has exceeded the value of Naira-denominated crude we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency" the company said in a statement.
Reuters
10-02-2025
- Business
- Reuters
Nigeria's Dangote Refinery to operate at full capacity in 30 days, executive says
LAGOS, Feb 10 (Reuters) - Nigeria's Dangote Oil refinery, Africa's largest, could begin operating at full capacity in 30 days, the head of the refinery said on Monday. The 650,000-barrel-per-day refinery built by Nigerian billionaire Aliko Dangote in Lagos began processing crude into products, including diesel, naphtha and jet fuel, in January last year and started processing petrol in September. It aims to compete with European refiners when operating at full capacity but had been struggling to secure sufficient crude locally. Edwin Devakumar, head of the Dangote oil refinery said it was currently operating at 85% capacity and "we can go 100 percent in 30 days." Last year, the refinery turned to importing crude after it was unable to secure sufficient volumes despite an agreement with the Nigerian government to buy crude in the local naira currency. It has asked for 550,000 bpd of crude for January-June this year from oil producers in Nigeria, according to the oil regulator, which has also said it would block export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries. The Dangote Oil Refinery is exploring new markets for its refined products. Founder Aliko Dangote told a group of Nigerian professionals who visited last week that it was sending two cargoes of jet fuel to Saudi Aramco as part of its plans to expand. "We are looking at all the markets right now," said Devakumar.
