Dangote Refinery exported N757bn worth of Jet Fuel to Europe in June, surpassing US shipments.
NewsOnline Nigeria reports that Dangote Petroleum Refinery exported about 466,000 metric tonnes of aviation fuel (jet fuel) to Europe in June 2026, with the shipment estimated to be worth N757 billion, surpassing exports from the United States and other major suppliers during the month.
According to a market report by S&P Global Commodity Insights, Dangote Refinery exports came as Nigeria recorded its highest monthly jet fuel shipments to Europe since becoming a net exporter of aviation fuel in 2024, following the commencement of production at the Dangote Refinery.
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The report revealed that jet fuel exports from Nigeria to Europe rose sharply from 232,000 metric tonnes in May to 466,000 metric tonnes in June, marking a new milestone for the country’s refining industry.
The June shipment is equivalent to approximately 582.5 million litres of aviation fuel. At an estimated domestic market price of N1,300 per litre, the export is valued at about N757.25 billion.
In contrast, aviation fuel exports from the United States to Europe declined significantly over the same period. Shipments fell from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May, before dropping further to 399,000 metric tonnes in June, allowing Nigeria to emerge as a larger supplier to the European market.
A market trader attributed the oversupply in Europe to increased exports from both the Dangote Refinery and the United States.
“Jet is oversupplied because of high local refinery production; refineries pushed back maintenance to make the most of the high prices. The US and Dangote also shipped large volumes. Now there are some flows resuming through the Suez, too, from the UAE, but let’s see how it goes,” the trader said.
The report noted that Europe’s jet fuel market has become increasingly bearish after prices retreated from record highs reached during the recent Middle East conflict.
According to Platts, part of S&P Global Commodity Insights, the Northwest Europe jet CIF cargo assessment for July fell to $981.75 per metric tonne on June 30, down sharply from the record $1,694.25 per metric tonne recorded on March 30.
Similarly, the August contract declined from $1,507.50 per metric tonne to $968.25 per metric tonne over the same period.
Analysts also noted that Europe could receive additional aviation fuel supplies in the coming months as exporters in the Middle East and India continue taking advantage of favourable East-West arbitrage opportunities.
While exports from the United Arab Emirates and Kuwait were absent in June, shipments from Saudi Arabia rose significantly to 106,000 metric tonnes, up from 7,000 metric tonnes in May. Exports from India also increased from 129,000 metric tonnes to 197,000 metric tonnes during the same period.
Despite the current oversupply, traders told Platts that future market conditions would largely depend on developments around the Strait of Hormuz, the recovery of Middle Eastern refineries following recent geopolitical tensions, and the strength of summer travel demand.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) further highlighted the refinery’s growing export capacity.
According to the regulator’s April 2026 fact sheet, the Dangote Refinery exported approximately 1.66 billion litres of refined petroleum products during the month, including 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel.
The exports coincided with heightened tensions in the Middle East, which disrupted global fuel supply routes and created new opportunities for Nigerian exports.
Dangote Refinery remains Nigeria’s only major operational refinery capable of producing sufficient volumes of refined petroleum products for both domestic consumption and international markets.
Nigeria also recently became a net exporter of petrol for the first time in decades after the refinery exported about 434 million litres of Premium Motor Spirit (PMS) in March, following domestic production that exceeded local demand.
The latest export figures further reinforce Nigeria’s growing position as a major exporter of refined petroleum products and an emerging energy hub for Africa and international markets.
