In a landmark development for Nigeria's energy sector, the Dangote Refinery has shipped its inaugural cargo of petrol to the United States, underscoring the country's shift from a fuel importer to a key player in international refined product trade.
The 650,000-barrel-per-day facility in Lekki, owned by billionaire Aliko Dangote, loaded approximately 300,000 barrels of gasoline onto the vessel Gemini Pearl on August 26, with the shipment en route to the US East Coast for potential offloading at the Port of New York or New Jersey by mid-September.
Data from global analytics firm Kpler and industry sources, as reported by Argus and BusinessDay NG, confirm this as the first direct Nigerian petrol export to the US market.
While Dangote has previously dispatched refined products from West Africa—including three LR2-sized cargoes in June and July to the Middle East Gulf and Singapore—this voyage marks a historic breakthrough for gasoline specifically.
In June and July, the refinery dispatched three LR2 cargoes, with two headed to the Middle East Gulf and one to Singapore.
Dangote has additionally provided petrol to the Mideast Gulf when there were supply shortages, highlighting its potential role as a flexible supplier in global fuel markets.
Traders indicate that Europe might become a viable destination if there are opportunities for arbitrage.
However, this would be contingent upon the refinery's residual fluid catalytic cracking (RFCC) unit operating with greater efficiency.
On Tuesday, Brent crude increased by 1.63% to reach $69.26 per barrel, while WTI saw a rise of 2.78%, bringing it to $65.79 per barrel.
This surge mirrored the global trend, leading to higher ex-depot prices in Nigeria as well. In Lagos, Rainoil and NIPCO priced it at ₦850 per liter, Matrix set it at ₦865 per liter in Warri, and ₦870 per liter in Calabar. In Port Harcourt, Sigmund also priced it at ₦870 per liter.
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