Dangote Breaks Ground on $16bn Kenya Refinery with 700k Bpd Capacity

Nigerian billionaire Aliko Dangote has broken ground on a $16 billion oil refinery in Lamu, Kenya. The facility will process 700,000 barrels of crude oil per day and is expected to be completed by 2030.

The project aims to increase Africa's ability to process and supply petroleum products locally rather than relying heavily on imports. Regional governments have been offered a combined 30 percent stake in the refinery.

The East African market has significant demand for refined petroleum products, with an estimated 20-30 million metric tonnes consumed annually. Industry estimates indicate that more than one million barrels per day of refining capacity would be required to meet this demand.