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Saudi Arabia woos Dangote for stake in refinery

Oil giant, Saudi Arabia, is said to be in advanced talks to acquire a stake in the Dangote Refinery and Petrochemicals plant planned to be commissioned by the Nigerian President, Mohammadu Buhari on May 22, 2023

The refinery is owned by Africa’s richest man, Aliko Dangote. 

The deal would be done either through the Saudi Sovereign Wealth Fund (SWF) or Saudi Aramco, sources said.

The start-up of the much-delayed 650,000bl/d Dangote refinery is critical to Nigeria’s energy and economic fortunes.

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