Nigeria’s Dangote has tapped Honeywell HON.O to provide services and help double its refining capacity to 1.4 million barrels per day by 2028, in what is the clearest indication yet that its plans to become the world’s largest petroleum refinery are bearing fruit.
Why it matters:
Nigeria is Africa’s largest crude oil producer, yet for decades it imported nearly all its refined fuel due to non-functional state-owned refineries. The Dangote refinery, which is Africa’s largest and the world’s biggest single-train facility at 650,000 barrels per day, is designed to reverse this paradox.
