Nigeria’s projected growth in refining capacity over the early 2020s will ‘substantially’ erode the country’s crude oil exports due to a ‘weak’ new project pipeline. Nigeria’s projected growth in refining capacity over the early 2020s will ‘substantially’ erode the country’s crude oil exports due to a ‘weak’ new project pipeline, according to a new report from BMI Research. While the report hailed the projected start up of the 650,000 barrel per day (bpd) Dangote refinery by 2020 and the potential of a second 250,000 bpd facility start up by 2021, oil and gas analysts at BMI highlighted that Nigeria may struggle to increase its oil production to meet new demand from these facilities, as well as sustain exports, as other countries have done. “Saudi Arabia has successfully managed this challenge, adding new capacity in 2013 and 2015, yet maintaining strong levels of exports,” the report stated. Nigeria however, has […]