Dangote jet fuel exports climbed to a record level in June after the Dangote Petroleum Refinery shipped about 466,000 metric tonnes of aviation fuel to Europe, overtaking the United States as the continent’s leading supplier during the month.
The exports, valued at an estimated N757.25 billion, marked Nigeria’s highest monthly jet fuel shipment to Europe since the country became a net exporter of aviation fuel in 2024. The latest figures also reinforce the growing influence of the Dangote Refinery in international energy markets as global supply chains continue to adjust following disruptions caused by the Middle East conflict.
According to S&P Global Commodity Insights, Nigeria significantly increased aviation fuel deliveries to Europe even as prices weakened because of rising supply and softer-than-expected demand.
Dangote jet fuel exports hit new high
The report showed that Dangote jet fuel exports to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June.
The June shipment equals roughly 582.5 million litres of aviation fuel. Based on an estimated domestic value of N1,300 per litre, the exports are worth approximately N757.25 billion.
During the same period, jet fuel exports from the United States declined steadily.
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.
The decline enabled Nigeria to become Europe’s largest external supplier of jet fuel for the month.
Europe faces oversupply of aviation fuel
The surge in Dangote jet fuel exports came as Europe’s aviation fuel market entered a period of oversupply.
Market participants told S&P Global Commodity Insights that increased refinery production in several regions added significant volumes to the market.
One trader said refiners delayed maintenance work to maximise production while prices remained attractive earlier in the year.
The trader also pointed to increased exports from the Dangote Refinery and the United States, alongside the gradual return of cargo movements through the Suez Canal from the United Arab Emirates.
As a result, European buyers have had access to larger volumes of imported aviation fuel than anticipated.
Jet fuel prices retreat after conflict
The additional supply placed downward pressure on prices across Europe.
Data from Platts, a division of S&P Global Commodity Insights, showed that the Northwest Europe jet CIF cargo assessment for July settled at $981.75 per metric tonne on June 30.
That represented a sharp decline from the record high of $1,694.25 per metric tonne recorded on March 30 during heightened tensions in the Middle East.
Likewise, the August contract fell from $1,507.50 per metric tonne to $968.25 per metric tonne over the same period.
Despite lower prices, exporters continue to target Europe because the East-West arbitrage remains commercially attractive.
Dangote jet fuel exports strengthen Nigeria’s position
The continued growth in Dangote jet fuel exports reflects Nigeria’s expanding refining capacity and rising petroleum exports.
Figures released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that the Dangote Refinery exported an estimated 1.66 billion litres of refined petroleum products in April 2026.
The exports included about 615 million litres of aviation fuel, 534 million litres of diesel and 513 million litres of petrol.
Earlier this year, the refinery also exported approximately 434 million litres of petrol after domestic production exceeded local demand.
The refinery remains the country’s only major operational facility producing refined petroleum products on a scale sufficient to serve both local and export markets.
Global outlook remains closely watched
Although the European market is currently well supplied, traders believe future conditions remain uncertain.
The report noted that Saudi Arabia increased jet fuel shipments to Europe from around 7,000 metric tonnes in May to 106,000 metric tonnes in June.
India also expanded exports from 129,000 metric tonnes to 197,000 metric tonnes during the same period.
Meanwhile, shipments from the United Arab Emirates and Kuwait were absent in June.
Industry analysts said developments in the Strait of Hormuz, refinery recovery across the Middle East and stronger summer travel demand could influence supply levels in the months ahead.
They also expect refiners to allocate more production toward diesel if market conditions become more favourable, which could gradually reduce excess jet fuel supplies.
The latest Dangote jet fuel exports highlight Nigeria’s emergence as a major supplier of aviation fuel to Europe. As refining output continues to increase, the country is steadily strengthening its role in the global petroleum market while expanding exports of high-value refined products.
