June 22, 2024
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OIL & GAS

Nigeria’s Dangote Refinery Exports First Jet Fuel Cargo to Europe

Nigeria’s Dangote refinery has made history by exporting its first jet fuel cargo to Europe. BP is transporting 45,000 metric tons of jet fuel from the refinery to Rotterdam aboard the Doric Breeze, marking a significant milestone for the 650,000 b/d facility. This export highlights the refinery’s rapid operational expansion and compliance with European jet A1 standards.

The shipment, loaded from Lekki on May 27, is part of a larger 120,000 mt tender, with Spanish refiner Cepsa also participating. This inaugural European shipment is expected to impact West African trade flows, as the refinery aims to reshape the market dynamics.

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Since April, Dangote has exported six jet fuel/kerosene cargoes to Senegal, Togo, and Ghana. BP plans to continue supplying jet fuel to West Africa from the refinery. However, European traders are concerned that increased Nigerian supply could further saturate the already weak market.

Platts assessments show a drop in the CIF Northwest European jet fuel premium, reflecting market oversupply. Dangote’s future exports could shift as the refinery prepares for gasoline production, with naphtha exports expected to decrease.

The refinery projects its first gasoline supplies in June and aims to produce ultra-low sulfur diesel for European export by the third quarter. Steady-state utilization is expected by 2027, potentially making Nigeria a net jet fuel exporter by late 2024. The $20 billion Dangote Oil Refinery is also set to be listed on the Nigerian Stock Exchange by December 2024.

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