Dangote Petroleum Refinery strengthened Nigeria’s position in the global energy market in June by exporting about 466,000 metric tonnes of jet fuel to Europe, making the country one of the continent’s biggest aviation fuel suppliers during the month.
The exported jet fuel is estimated to be worth about N757 billion, highlighting the growing influence of the refinery in international fuel trade. The latest figures also show that Nigeria supplied more jet fuel to Europe than the United States in June.
According to a report by S&P Global Commodity Insights, Nigeria’s jet fuel exports to Europe doubled from 232,000 metric tonnes in May to 466,000 metric tonnes in June. This marks the highest volume of aviation fuel exported from Nigeria to Europe since the country became a net exporter of jet fuel in 2024, following the start of aviation fuel production at the Dangote Refinery.
The June shipment is estimated to equal about 582.5 million litres of jet fuel. Using an average domestic price of N1,300 per litre, the total value of the exports is estimated at N757.25 billion.
During the same period, jet fuel exports from the United States to Europe declined significantly. Shipments dropped from 818,000 metric tonnes in April to 560,000 metric tonnes in May, before falling further to 399,000 metric tonnes in June. This allowed Nigeria to overtake the United States as Europe’s larger supplier of aviation fuel for the month.
Industry experts believe the European market is currently experiencing an oversupply of jet fuel. A trader quoted in the report explained that many refineries increased production to benefit from previously high fuel prices. Large export volumes from both the Dangote Refinery and the United States also contributed to the excess supply. In addition, fuel shipments through the Suez Canal have started increasing again, with supplies returning from the United Arab Emirates.
As supply increased, jet fuel prices in Europe dropped sharply. Data from Platts, a division of S&P Global Commodity Insights, showed that the Northwest Europe jet fuel price for July delivery fell to $981.75 per metric tonne by the end of June, compared to a record $1,694.25 per metric tonnerecorded earlier in the year during heightened tensions in the Middle East.
The August contract also declined significantly, reflecting weaker market expectations and slower-than-expected growth in air travel demand.
Meanwhile, other global suppliers also increased exports to Europe. Saudi Arabia raised its shipments from 7,000 metric tonnes in May to about 106,000 metric tonnes in June, while India increased exports from 129,000 metric tonnes to 197,000 metric tonnes over the same period.
Despite the current oversupply, energy traders believe the market could become more balanced later in the year. They noted that future prices will depend on developments around the Strait of Hormuz, recovery of Middle Eastern refineries after recent conflicts, and stronger summer travel demand across Europe.
Back home, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that Nigeria exported about 1.66 billion litres of refined petroleum products in April 2026. These exports included approximately 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel.
The Dangote Refinery remains Nigeria’s only major refinery currently producing enough refined petroleum products for both local use and international markets.
The refinery’s growing output has helped Nigeria become a net exporter of petrol for the first time in decades. Earlier this year, the refinery also exported about 434 million litres of petrol after domestic production exceeded local demand.
The latest export figures underline Nigeria’s growing role as an important fuel supplier in Africa and beyond. With increasing production capacity and rising demand from international markets, the country is steadily transforming from a major importer of refined petroleum products into a leading exporter.
