Nigeria’s growing influence in the global energy market received another major boost as the Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of jet fuel to Europe in June, a shipment valued at an estimated N757 billion. The export volume not only marked a record for Nigeria’s aviation fuel trade but also pushed the country ahead of the United States as Europe’s leading supplier of jet fuel during the month. The development highlights the increasing importance of the Dangote Refinery in reshaping global fuel supply chains and strengthening Nigeria’s position in the international petroleum market.
According to a report by S&P Global Commodity Insights, jet fuel exports from Nigeria to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June. The milestone represents the highest volume of aviation fuel shipped from Nigeria to Europe since the country became a net exporter of jet fuel in 2024, following the commencement of production at the Dangote Refinery. The June shipment is estimated at about 582.5 million litres of jet fuel, reflecting the refinery’s growing capacity to meet both domestic and international demand.
The surge in Nigerian exports came at a time when aviation fuel shipments from the United States were declining sharply. Data from the report showed that US exports to Europe fell from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and further dropped to 399,000 metric tonnes in June. Market analysts attributed the oversupply in Europe partly to increased exports from both Dangote and US refiners, combined with the gradual return of fuel shipments through the Suez Canal and additional supplies from the Middle East.
Despite record export volumes, global jet fuel prices have weakened considerably after soaring during the Middle East conflict earlier this year. Platts data revealed that Northwest Europe jet fuel cargo prices fell from an all-time high of $1,694.25 per metric tonne in March to $981.75 per metric tonne by the end of June. Traders believe the market is adjusting to growing supply levels, although future conditions will depend on developments in key global shipping routes such as the Strait of Hormuz and the pace of recovery among Middle Eastern refineries affected by recent disruptions.
The latest figures further reinforce Nigeria’s transformation from a major importer of refined petroleum products into an emerging export powerhouse. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that the Dangote Refinery exported about 1.66 billion litres of refined products in April alone, including petrol, diesel, and aviation fuel. With domestic production now exceeding local demand in several product categories, industry observers say Nigeria is steadily positioning itself as a strategic energy hub for Africa and international markets, with Dangote Refinery leading the charge.
source: punch