Dangote Petroleum Refinery says it has overtaken the United States (US) as Europe’s largest jet fuel supplier for the second consecutive month.
The refinery, in a statement on Thursday, said the
development underscores its growing influence in international energy markets.
“Dangote Petroleum Refinery & Petrochemicals has
strengthened its position as a global supplier of premium aviation fuel after
emerging as Europe’s largest jet fuel supplier for the second consecutive
month, overtaking the United States and underscoring the refinery’s growing
influence on international energy markets,” the statement reads.
The refinery said the latest European import data compiled
by global commodities intelligence firm, Kpler, showed that more than 400,000
tonnes of jet fuel produced at the refinery were delivered to Europe in July,
accounting for about 20 percent of the continent’s total jet fuel imports
during the month.
“The performance follows a record 466,000 tonnes exported to
Europe in June, when Nigeria first displaced the United States as the region’s
leading supplier of imported jet fuel,” the statement further reads.
“The sustained export performance marks a significant
milestone for the refinery, demonstrating its ability to consistently supply
one of the world’s most demanding fuel markets with aviation fuel that meets
stringent international quality specifications.
“Europe imported approximately 2.06 million tonnes of jet
fuel in July, with Dangote accounting for the single largest share of those
imports, ahead of traditional suppliers from the United States and the Middle
East.”
The refinery said its strategic location on Nigeria’s
Atlantic coast, combined with its scale, modern technology and export
capability, has enabled it to become an increasingly important source of
aviation fuel for Europe, despite the continent’s longstanding reliance on
refiners in the United States, the Middle East, and Asia.
Dangote refinery said the export momentum has been driven by
steadily rising production.
“Jet fuel loadings at Dangote’s Lekki export terminal
reached a record 550,000 tonnes in June, while crude deliveries to the refinery
climbed to an all time high of 660,000 barrels per day, providing the
throughput required to sustain growing exports of refined petroleum products to
international markets,” the statement said.
The latest figures come amid shifting global energy flows,
the refinery noted.
“Although Europe received limited volumes of jet fuel from
Kuwait, the United Arab Emirates and Oman in July, market disruptions around
the Strait of Hormuz and evolving geopolitical dynamics have encouraged buyers
to diversify supply sources,” the firm said.
“Against this backdrop, Dangote Refinery has emerged as a
reliable and competitive supplier, reinforcing Nigeria’s growing importance in
global refined products trade.”
David Bird, the chief executive officer of Dangote refinery,
said the organisation has expanded exports of diesel, petrol, and other refined
petroleum products to markets across Europe, Africa, and other parts of the
world, in addition to aviation fuel.
Bird said the exports are reinforcing Nigeria’s position as
a net exporter of high-value refined petroleum products.
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