Aradel Aims for 2027 Gasoline Production as Revenue Surges
Aradel Holdings Plc has announced plans to start gasoline production at its 11,000-barrel-per-day modular refinery in 2027. The company's refining business manager, Temitayo Ogunbanjo, said that the removal of petrol subsidy and liberalisation of the fuel market have created a more commercially viable environment for Aradel.
Aradel currently produces kerosene, diesel, gas oil, and naphtha. However, with its strong financial and operational performance in the first half of 2026, the company is evaluating expansion options, including securing additional crude feedstock and strengthening export logistics.
In the first half of 2026, Aradel recorded ₦2.49 trillion in revenue, supported by a substantial increase in upstream oil and gas production and improving refinery operations. The company's average daily crude oil production surged by 258% to 55,600 barrels per day, while gas production rose by 1,121% to 503.2 million standard cubic feet per day.