The Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June 2026, with the shipments valued at an estimated ₦757.25 billion, according to a report by S&P Global Commodity Insights.
The report said the refinery’s exports exceeded jet fuel shipments from the United States during the month, marking Nigeria’s highest aviation fuel exports to Europe since becoming a net exporter of jet fuel in 2024.
According to the market intelligence firm, exports from Nigeria to Europe rose sharply from 232,000 metric tonnes in May to 466,000 metric tonnes in June, following increased production at the Dangote Refinery.
The June volume is equivalent to approximately 582.5 million litres of aviation fuel. Based on an estimated domestic value of ₦1,300 per litre, the shipment was valued at about ₦757.25 billion.
In contrast, jet fuel exports from the United States to Europe declined steadily over the same period, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and 399,000 metric tonnes in June, leaving Nigeria as Europe’s larger supplier for the month.
A trader quoted in the report attributed the growing supply to increased exports from both Nigeria 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 weakened considerably after prices surged during the Middle East conflict. According to Platts, part of S&P Global Commodity Insights, the Northwest Europe jet CIF cargo financial assessment for July fell to $981.75 per metric tonne on 30 June, down from the record $1,694.25 per metric tonne recorded on 30 March.
Market analysts said additional supplies from the Middle East and India could further increase competition in Europe. While exports from the United Arab Emirates and Kuwait were absent in June, shipments from Saudi Arabia climbed from 7,000 metric tonnes in May to 106,000 metric tonnes in June, while India’s exports increased from 129,000 metric tonnes to 197,000 metric tonnes.
Despite the current oversupply, traders believe future market conditions will depend on developments in the Strait of Hormuz, refinery recovery across the Middle East, and summer aviation demand.
The report builds on Nigeria’s expanding role in refined petroleum exports. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the Dangote Refinery exported an estimated 1.66 billion litres of refined petroleum products in April 2026, including petrol, diesel and aviation fuel.
The refinery, currently Nigeria’s only major facility producing sufficient volumes for both domestic consumption and exports, has transformed the country’s downstream sector. Nigeria became a net exporter of petrol in 2025 after decades of relying heavily on imports, with the refinery steadily increasing exports across African and European markets.
Also read: Dangote Refinery slashes petrol price again to N1,075 per litre
The latest figures underscore Nigeria’s growing position in the global refined petroleum market as the Dangote Refinery continues to expand exports amid changing international supply dynamics.
Mariam Balogun is a contributor to Freelanews.com, covering news, business, and public affairs.
