The Dangote Petroleum Refinery exported approximately 466,000 metric tonnes of aviation fuel to Europe in June, with the cargo estimated to be worth about N757 billion, overtaking the United States and other suppliers during the period.
The development pushed Nigeria’s jet fuel exports to Europe to their highest level since the country became a net exporter of aviation fuel in 2024.
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According to a report by S&P Global Commodity Insights, the increase in shipments came as the European jet fuel market turned bearish following a sharp drop in prices after the peak witnessed during the Middle East conflict.
The report revealed that Nigerian jet fuel exports to Europe rose significantly from 232,000 metric tonnes in May to 466,000 metric tonnes in June. It noted that this represents the largest monthly volume shipped from Nigeria to Europe since the Dangote Refinery began producing aviation fuel in 2024.
The June exports are equivalent to roughly 582.5 million litres of jet fuel. At an estimated local value of N1,300 per litre, the shipment is valued at around N757.25 billion.
Meanwhile, aviation fuel exports from the United States to Europe declined markedly over the same period. According to the report, US exports dropped from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May before falling further to 399,000 metric tonnes in June, allowing Nigeria to emerge as Europe’s larger supplier for the month.
A market trader attributed the glut in supply to increased exports from both the Dangote Refinery and the United States.
“Jet fuel is oversupplied because of strong refinery production, with many refineries delaying maintenance to benefit from earlier high prices. The US and Dangote also exported substantial volumes. Some cargoes are also beginning to return through the Suez Canal from the UAE, but we will see how the market develops,” the trader said.
The report added that Europe’s jet fuel forward market has weakened considerably after reaching record highs during the Middle East conflict, as traders now expect an oversupplied market this summer amid softer-than-anticipated aviation demand.
Figures from Platts, a division of S&P Global Commodity Insights, showed that the Northwest Europe jet CIF cargo financial assessment for July fell to $981.75 per metric tonne on June 30 from an all-time high of $1,694.25 per metric tonne recorded on March 30.
Likewise, the August contract declined from $1,507.50 per metric tonne at the end of March to $968.25 per metric tonne by June 30.
The report further stated that Europe could receive even more jet fuel in the coming months, as favourable East-West arbitrage continues to encourage exporters from the Middle East and India to redirect cargoes westward.
Although there were no shipments from the United Arab Emirates and Kuwait in June, exports from Saudi Arabia climbed to about 106,000 metric tonnes from just 7,000 metric tonnes in May. India also increased its exports from 129,000 metric tonnes to 197,000 metric tonnes during the same period.
Despite the present oversupply, two European jet fuel traders told Platts that the direction of the market would depend largely on developments around the Strait of Hormuz and how quickly Middle Eastern refineries recover from disruptions linked to the recent conflict.
They also suggested that stronger summer travel demand and refiners prioritising diesel production over jet fuel could gradually restore balance to the market.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the Dangote Refinery exported an estimated 1.66 billion litres of refined petroleum products in April 2026, when tensions in the Middle East disrupted global fuel supply routes.
Analysis of the NMDPRA’s April 2026 fact sheet indicated that Nigeria exported about 513 million litres of Premium Motor Spirit (petrol), 534 million litres of Automotive Gas Oil (diesel), and 615 million litres of aviation fuel during the month.
The Dangote Refinery remains Nigeria’s only major operational refinery with sufficient production capacity to meet domestic fuel demand while supplying export markets.
Nigeria also became a net exporter of petrol for the first time in decades as increased output from the refinery exceeded local demand. Earlier, the facility exported approximately 434 million litres of petrol in March after domestic production outpaced consumption.
The latest export figures further highlight Nigeria’s steady transformation from a major importer of refined petroleum products into a growing refining and export hub in Africa. Industry observers believe aviation fuel exports could continue to increase as geopolitical tensions in the Middle East reshape traditional supply routes to Europe and other global markets.
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