Nigeria’s Dangote Petroleum Refinery supplied Europe with aviation fuel worth an estimated N757 billion in June, surpassing exports from the United States and emerging as one of the continent’s leading suppliers during the period.
A market assessment by S&P Global Commodity Insights revealed that the refinery shipped approximately 466,000 metric tonnes of jet fuel to Europe in June, nearly doubling the 232,000 metric tonnes exported in May. The June figure represents Nigeria’s highest monthly aviation fuel export to Europe since the country became a net exporter of jet fuel in 2024 following the commencement of production at the Dangote refinery.
Based on standard conversion estimates, the June shipment amounts to roughly 582.5 million litres of aviation fuel. At an estimated domestic price of N1,300 per litre, the cargo is valued at about N757.25 billion.
The report also showed a significant decline in aviation fuel exports from the United States over the same period. American shipments dropped from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May before falling further to 399,000 metric tonnes in June. This allowed Nigeria to overtake the US as a larger supplier of jet fuel to the European market during the month.
According to S&P Global Commodity Insights, the increase in supply from Nigeria came at a time when Europe’s aviation fuel market experienced falling prices after reaching record highs during the recent Middle East conflict. The easing of geopolitical tensions and rising product availability have contributed to a softer market outlook.
A trader quoted in the report attributed the oversupply to increased refinery output, particularly from Dangote and the United States. The source explained that many refineries delayed scheduled maintenance to take advantage of earlier high prices, resulting in larger volumes entering the market. The trader also noted that fuel shipments through the Suez Canal from the United Arab Emirates had started to recover, further increasing supply.
Price assessments by Platts, a division of S&P Global Commodity Insights, reflected the changing market conditions. The Northwest Europe jet fuel CIF July assessment declined to $981.75 per metric tonne by June 30, down sharply from the record high of $1,694.25 per metric tonne recorded in March. The August contract also dropped substantially over the same period.
The report projected that Europe could receive additional jet fuel cargoes in the coming months as exporters in the Middle East and India continue to benefit from favourable trading opportunities into western markets. While shipments from the United Arab Emirates and Kuwait were absent in June, exports from Saudi Arabia and India increased significantly.
Industry analysts, however, believe future market direction will depend largely on developments around the Strait of Hormuz, refinery operations across the Middle East and the strength of summer travel demand. They added that refiners prioritising diesel production over jet fuel could also help reduce the current oversupply.
Meanwhile, data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicated that the Dangote refinery exported about 1.66 billion litres of refined petroleum products in April 2026, including petrol, diesel and aviation fuel. The figures highlight Nigeria’s growing position as a major exporter of refined petroleum products, driven by increased output from the Dangote refinery and the country’s transition from heavy fuel imports to becoming an important refining and export hub in Africa.
