US Imports 2M Barrels Of Jet Fuel From Dangote Refinery

The United States has imported over two million barrels of jet fuel from Dangote Petroleum Refinery & Petrochemicals this month, according to a statement from the refinery yesterday.

It stated that this gave credence to the growing influence of the refinery, which is extending far beyond Africa and the Middle East. It added that this development should bring immense joy to Nigerians, as it attests to the unparalleled quality of the refinery’s products and the trust that the international community places in Dangote Refinery.

According to data from ship-tracking service, Kpler, six vessels carrying around 1.7 million barrels of jet fuel from Dangote Petroleum Refinery arrived at US ports this month. Another vessel, the Hafnia Andromeda, is set to arrive at the Everglades terminal on March 29, with approximately 348,000 barrels of jet fuel.

The shipments from the refinery highlight its potential to reshape global fuel trading dynamics, establishing a new swing supplier in the Atlantic Basin.

This shipment to the United States follows three cargoes of jet fuel, totalling around 130 million litres, exported from Nigeria to Saudi Arabia by the Dangote Petroleum Refinery.

The refinery has already demonstrated its ability to compete with European refiners on gasoline (PMS) exports, and these jet fuel shipments to the United States could challenge the economics of domestic producers in the world’s largest fuel-consuming nation. Chief Operating Officer of TankTiger, Steven Barsamian, said:

‘’The surge in demand, partly driven by the influx of supply from Nigeria, is expected to lower jet fuel prices in the US ahead of the peak summer travel season.

US jet fuel imports from Dangote Refinery are expected to decrease aviation fuel prices during this period, according to trade analysts and storage brokers.

US jet fuel imports in March have averaged around 226,000 bpd, the highest since February 2023, underlining the global demand for products from Dangote Refinery.

“The Dangote Refinery, which commenced production in January 2024, has already exported its products to almost every continent.

While the surge in US imports was partly triggered by a maintenance-related shutdown at the Phillips 66 Bayway refinery in New Jersey, analysts believe the choice of Dangote’s products highlights its growing presence in international markets, having successfully competed with European refiners in gasoline exports.”

Economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, according to the statement, said that the export of jet fuel to the United States by Dangote Refinery was a point of pride for Nigeria, highlighting the quality, standard, and the trust that the international community places in the refinery.