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Guyana Oil Fuels Dangote’s African Ambition | Guyana News
Guyana’s oil is fueling Africa’s refining revolution as Nigeria’s Dangote Refinery, set to become the continent’s biggest IPO worth $5 billion, taps into Guyanese crude to power its operations. With strong earnings boosted by global fuel shortages, the refinery now sources from a global network—including Libya, Angola, Ghana, and Cameroon—to hedge against volatility. But the real challenge? Keeping costs down: even Nigerian crude can be more expensive than imports due to flawed pricing benchmarks. As Dangote plans to double capacity in three years, its survival—and valuation—depends on…
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