Dangote Refinery exports 466,000 tonnes of jet fuel to Europe as Nigeria’s aviation fuel shipments surge

The Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion, overtaking shipments from the United States and other major suppliers.

This marks a sharp increase in Nigeria’s aviation fuel exports to Europe, which reached their highest level since the country became a net exporter of jet fuel in 2024 following the commencement of operations at the Dangote Refinery.

Data from a market report by S&P Global Commodity Insights showed that exports from Nigeria to Europe more than doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June.

The report attributed the surge to shifting global market dynamics, noting that the European jet fuel market weakened significantly after a price spike triggered by geopolitical tensions in the Middle East.

The June export volume is equivalent to approximately 582.5 million litres of jet fuel. Based on an estimated domestic value of N1,300 per litre, the shipment is valued at about N757.25 billion.

During the same period, jet fuel exports from the United States to Europe declined steadily, falling from 818,000 metric tonnes in April to 560,000 metric tonnes in May and further to 399,000 metric tonnes in June. This shift positioned Nigeria as a more prominent supplier to the European market in June.

A market trader, quoted in the report, attributed the oversupply situation to strong refinery output and delayed maintenance schedules aimed at maximising profits during high price periods. He also noted increased shipments from both the United States and the Dangote Refinery, alongside renewed flows from other regions via the Suez route.

European jet fuel prices have since softened, with Platts data showing the Northwest Europe jet CIF cargo assessment for July falling to $981.75 per metric tonne on June 30, down from a record $1,694.25 per metric tonne in March.

The August contract also dropped sharply, declining from $1,507.50 per metric tonne in March to $968.25 per metric tonne by the end of June.

The report added that additional supply pressure may persist in the coming months, as attractive arbitrage opportunities continue to encourage shipments from the Middle East and Asia into Europe. Saudi Arabian exports rose to about 106,000 metric tonnes in June from 7,000 metric tonnes in May, while shipments from India also increased to 197,000 metric tonnes.

Although flows from the United Arab Emirates and Kuwait were absent in June, analysts expect global supply patterns to remain volatile, depending on developments in the Strait of Hormuz and refinery recovery in key producing regions.

They further noted that stronger seasonal travel demand and a shift by refiners toward diesel production could eventually help rebalance the aviation fuel market.

Meanwhile, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicated that the Dangote Refinery exported about 1.66 billion litres of refined petroleum products in April 2026 alone.

During that month, Nigeria exported 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel, highlighting the refinery’s growing role in transforming the country into a net exporter of refined petroleum products.

Nigeria, which previously relied heavily on imports, has now begun exporting petrol consistently, with the Dangote Refinery playing a central role in the shift. The facility exported about 434 million litres of petrol in March, as domestic production exceeded local demand.

The latest figures underscore Nigeria’s gradual emergence as a regional refining hub, with further export growth expected if global supply disruptions persist.

Prince Antwi

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