Sinclair Refinery: 110,000 bpd combined for its two facilities, older and smaller
In a recent video, Afrobeats artist Seun Kuti claimed that the Nigerian Federal Government spent $2 billion to acquire a 20% stake in the Dangote Refinery, while the same amount was used to purchase the entire Sinclair Refinery in the U.S. He asserted that both refineries are of comparable size.
Findings:
- Dangote Refinery:
- Capacity: 650,000 barrels per day (bpd)
- Location: Lekki Free Zone, Lagos, Nigeria
- Storage: 4.78 billion liters for refined products
- Production: Up to 50 million liters of gasoline and 15 million liters of diesel per day
- Ranking: 7th largest refinery in the world (as of February 2024)
- Sinclair Refinery:
- Capacity: 110,000 barrels per day (bpd) across two facilities (Sinclair and Casper, Wyoming)
- Acquisition: Purchased for $2.6 billion by HollyFrontier Corporation in August 2021
- Historic Background: Established in 1916, it’s an older refinery compared to Dangote’s new facility.
Expert Opinion:
- Professor Dayo Ayoade: Points out that Sinclair’s refinery cannot be compared to Dangote’s due to its significantly larger capacity and recent construction. He argues that Kuti’s comparison is inaccurate because the Dangote Refinery is a newer, much larger facility, whereas Sinclair’s refineries are older and smaller in scale.
Conclusion: Seun Kuti’s claim that both refineries are of the same size is incorrect. The Dangote Refinery is considerably larger in capacity and scale compared to Sinclair’s refineries.
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