Dangote Refinery exports 466,000 metric tonnes of jet fuel to Europe in June, surpassing US shipments
via Punch Nigeria4 min read
Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion. This volume surpassed shipments from the United States and marked the highest level of Nigerian jet fuel exports to Europe since the country became a net exporter of aviation fuel in 2024. The increase in Nigerian exports coincided with a bearish turn in the European jet fuel market, as prices declined significantly from highs seen during the Middle East conflict. In contrast, jet fuel exports from the United States to Europe decreased steadily, falling from 818,000 metric tonnes in April to 399,000 metric tonnes in June. A trader attributed the oversupply in the European market partly to increased shipments from both Dangote and the United States. The European jet fuel forward curve has weakened, with July financial assessments dropping to $981.75 per metric tonne from a high of $1,694.25 per metric tonne in March. Europe may receive further supplies as the East-West arbitrage remains attractive, encouraging exporters from the Middle East and India. The Dangote refinery is Nigeria's primary functional refinery, contributing to the country's transition from a major importer to an exporter of refined petroleum products, including petrol and jet fuel.
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