Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757bn, surpassing US shipments to become Europe’s top supplier for the month.
Dangote Beats US to Become Europe’s Biggest Jet Fuel Supplier in June
The Dangote Refinery shipped a record 466,000 metric tonnes of jet fuel to Europe in June, up from 232,000 metric tonnes in May and the highest volume since Nigeria became a net aviation fuel exporter in 2024, according to a market report by S&P Global Commodity Insights cited by Punch.
The June figure represents approximately 582.5 million litres, valued at roughly N757.25bn at an estimated domestic price of N1,300 per litre.
By contrast, US jet fuel exports to Europe fell sharply, dropping from a record 818,000 metric tonnes in April to 399,000 metric tonnes in June, leaving Nigeria as the larger supplier for the month. A trader quoted in the report attributed the oversupply partly to high shipment volumes from both Dangote and the United States, alongside the resumption of flows through the Suez Canal from the UAE.
The European jet fuel market has weakened significantly since hitting record highs during the Middle East conflict, with Northwest Europe’s July jet fuel assessment falling to $981.75 per metric tonne on June 30, down from an all-time high of $1,694.25 on March 30.
The Dangote refinery remains Nigeria’s only major functional refinery producing refined petroleum products for both domestic consumption and export, cementing Nigeria’s transition from a major petroleum importer to a regional export hub.
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