For the second month in a row, Dangote Petroleum Refinery has continued to be Europe’s top supplier of imported jet fuel, surpassing the US as it grows its influence in the world energy market.In a statement released on Thursday, the refinery described the event as a significant milestone that represents its increasing impact in the global petroleum trade.
The company claims that more than 400,000 tons of aviation fuel produced at the Lekki-based refinery were delivered to Europe in July, accounting for roughly 20% of the continent’s total jet fuel imports for the month, according to the most recent European import data gathered by international commodities intelligence firm Kpler.
According to the refinery, the July result came after an even better showing in June, when it sold a record 466,000 tons of jet fuel to Europe—the first time Nigeria overtook the US as the region’s top external supplier of the fuel.It stated that the constant export success shows that it can reliably offer products that satisfy strict international quality criteria to one of the most demanding aviation fuel markets in the world.
According to the business, “Europe imported about 2.06 million tons of jet fuel in July, with Dangote accounting for the single largest share of those imports, ahead of traditional suppliers from the United States and the Middle East.”
The refinery credited its increasing market share to its advantageous location on Nigeria’s Atlantic coast, cutting-edge refining technology, substantial production capacity, and export infrastructure, all of which have allowed it to successfully compete with established refiners in the US, the Middle East, and Asia.
It further stated that a key factor in its export expansion has been enhanced production capacity.The company claims that while crude oil deliveries to the refinery reached an all-time high of 660,000 barrels per day in June, jet fuel loadings at the Lekki export terminal hit a record 550,000 tons, providing the throughput needed to maintain rising exports of refined petroleum products.The refinery also connected shifts in the patterns of the world’s energy supply to its impressive performance.
Although Europe continued to receive limited supplies of jet fuel from Kuwait, the United Arab Emirates, and Oman in July, it stated that customers were advised to diversify their sources of supply due to problems around the Strait of Hormuz and changing geopolitical situations.The statement went on, “Against this backdrop, Dangote Refinery has emerged as a dependable and competitive supplier, reinforcing Nigeria’s growing importance in global refined products trade.”
David Bird, the chief executive officer of Dangote Refinery, stated that in addition to aviation fuel, the facility has continued to increase exports of diesel, gasoline, and other refined petroleum products to markets throughout Europe, Africa, and other countries.
He said the refinery’s expanding export portfolio is strengthening Nigeria’s position as a net exporter of high-value refined petroleum products and increasing the country’s relevance in international energy markets.
