Europe’s Jet Fuel Crisis Lifts Dangote Refinery’s Exports by 75%

By Tuoyo Treasure

Nigeria’s growing role in the global refined products market is gaining prominence as escalating supply disruptions in the Middle East push Europe into a deepening jet fuel squeeze.

Hence, Dangote Petroleum Refinery has emerged as one of the continent’s most critical alternative suppliers.

New market data from energy intelligence platform, Kpler, showed that deliveries of jet fuel from Dangote refinery to Europe climbed to a record 272,000 metric tonnes between April 1 and 29, representing a 75 per cent jump from March volumes and almost two-thirds above the record set in September last year.

The sharp rise comes as Europe struggles to replace supplies disrupted by the escalating conflict in the Middle East and the closure of the Strait of Hormuz, a critical global energy transit route that previously accounted for about 40 per cent of Europe’s jet fuel import flows.

According to the data, France emerged as the largest destination for Nigerian jet fuel imports in April with 163,000 tonnes, followed by Spain with 88,000 tonnes and the United Kingdom with 22,000 tonnes.

Head of Europe and Africa gasoline pricing at Argus Media, George Maher-Bonnett, said Dangote Refinery has rapidly become one of Europe’s few large-scale alternative suppliers as buyers pivot from Middle Eastern supply routes increasingly exposed to geopolitical risks.

Maher-Bonnett noted that Nigerian cargoes, driven almost entirely by Dangote Refinery, accounted for 20 per cent of Europe’s total jet fuel imports in April, compared to 10 per cent in March and just four per cent a year ago.

The development further cements Nigeria’s emergence in Europe’s replacement supply chain and strengthens the refinery’s growing reputation as a reliable exporter into international markets.

Europe has also increased imports from the United States since the Middle East conflict intensified, but alternative supply sources are still only replacing about half of the lost Gulf volumes, according to the International Energy Agency (IEA).

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Market participants, according to Maher-Bonnett, warned that Europe may be unable to fully offset the supply disruption, with shortages expected to emerge between May and June, a situation likely to increase reliance on supplies from Nigeria and the United States.

The supply crunch has already triggered sharp increases in jet fuel prices across key trading hubs. Maher-Bonnett said Nigerian jet fuel prices have risen steadily since the conflict began on February 28, prompting airline operators under the umbrella of AON to accuse fuel marketers of profiteering amid escalating costs.

The concerns forced the Federal Government to convene an emergency meeting in Abuja on April 22 to address pricing tensions in the domestic aviation fuel market.

Argus Media, which began assessing jet fuel prices on a free-on-board offshore Lomé ship-to-ship basis on March 16, said prices have averaged $1,588.50 per tonne since assessments commenced.

Although premiums for offshore Lomé cargoes relative to ICE gasoil futures have declined from around $500 per tonne in mid-March to the low-to-mid $200 range by April 29, outright prices have remained elevated, hovering just below $1,600 per tonne.

The report noted that West African jet fuel prices have remained slightly cheaper than those in northwest Europe due to strong product availability from the Dangote refinery.

The latest supply shift highlights Europe’s growing dependence on Atlantic Basin suppliers following successive geopolitical shocks, including Russia’s invasion of Ukraine in 2022 and the ongoing tensions involving Iran and the United States.

According to Maher-Bonnett, Europe remains structurally short of jet fuel and diesel, forcing the continent to seek more proximate and stable supply sources.

1. While Dangote refinery has yet to market diesel aggressively into Europe, its jet fuel specifications are already aligned with European standards, making Nigerian cargoes increasingly attractive to buyers across the region.