Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of jet fuel to Europe in June, with the shipment estimated to be worth about N757 billion. The volume surpassed jet fuel exports from the United States during the same period, reinforcing Nigeria’s growing position in the global aviation fuel market.
The latest figures also mark Nigeria’s highest jet fuel exports to Europe since the country became a net exporter of aviation fuel in 2024 following the commencement of production at the Dangote refinery.
According to a market report by S&P Global Commodity Insights, the increase in exports came at a time when the European jet fuel market turned increasingly bearish after prices retreated sharply from the record highs recorded during the recent Middle East conflict.
The report showed that jet fuel exports from Nigeria to Europe climbed from 232,000 metric tonnes in May to 466,000 metric tonnes in June, representing the largest monthly volume shipped from the country to Europe since Dangote Refinery began producing aviation fuel.
The June shipment is equivalent to about 582.5 million litres of jet fuel. Based on an estimated domestic value of N1,300 per litre, the cargo is valued at approximately N757.25 billion.
Meanwhile, exports of aviation fuel from the United States to Europe declined significantly over the same period. According to the report, US exports 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, allowing Nigeria to emerge as Europe’s larger supplier during the month.
Commenting on the market outlook, a trader linked the current oversupply to increased production from both Dangote and US refineries.
“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 was quoted as saying.
The report added that the European jet fuel forward curve weakened considerably after reaching unprecedented highs during the Middle East conflict. Traders now expect an oversupplied summer market amid weaker-than-expected demand for air travel.
Dangote Strengthens Nigeria’s Fuel Export Growth
Data from Platts, a division of S&P Global Commodity Insights, showed that the Northwest Europe jet CIF cargo financial assessment for July declined to $981.75 per metric tonne on June 30 from the record high of $1,694.25 per metric tonne recorded on March 30.
Likewise, the August contract fell from $1,507.50 per metric tonne on March 30 to $968.25 per metric tonne by June 30.
The report also noted that Europe could receive even more jet fuel supplies in the months ahead as the East-West arbitrage remains favourable, encouraging exporters in the Middle East and India to redirect cargoes toward European markets.
Although no jet fuel shipments were recorded from the United Arab Emirates and Kuwait in June, exports from Saudi Arabia rose sharply to about 106,000 metric tonnes from 7,000 metric tonnes in May. India’s exports also increased from 129,000 metric tonnes to 197,000 metric tonnes during the same period.
Despite the present oversupply, two European jet fuel traders told Platts that future market conditions would depend largely on developments in the Strait of Hormuz and how quickly Middle Eastern refineries recover from disruptions caused by the recent conflict.
They also noted that stronger summer travel demand, alongside refiners increasingly prioritising diesel production over jet fuel, could gradually restore balance to the aviation fuel market.
Separately, data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that Dangote Refinery exported an estimated 1.66 billion litres of refined petroleum products in April 2026, during a period of heightened tensions in the Middle East that disrupted global fuel supply routes.
According to the NMDPRA’s April 2026 fact sheet, Nigeria exported approximately 513 million litres of premium motor spirit (petrol), 534 million litres of automotive gas oil (diesel), and 615 million litres of aviation fuel during the month.
Dangote Refinery remains Nigeria’s only major operational refinery with sufficient production capacity to meet domestic demand while supplying international markets.
Nigeria has also become a net exporter of petrol for the first time in decades as production from the refinery continues to rise. In March, the refinery exported about 434 million litres of petrol after domestic output exceeded local consumption.
The latest export figures further highlight Nigeria’s gradual transformation from a major importer of refined petroleum products into an emerging refining and export hub in Africa. Industry observers believe jet fuel exports could increase further as instability in the Middle East continues to disrupt traditional supply chains serving Europe and other global markets.
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