Nigeria has recorded a major milestone in the global energy market as the Dangote Petroleum Refinery emerged as Europe’s largest supplier of jet fuel in June 2026, surpassing exports from the United States and other major producers.
According to a market report by S&P Global Commodity Insights, the refinery exported approximately 466,000 metric tonnes of aviation fuel to Europe during the month. The shipment, equivalent to about 582.5 million litres, is valued at an estimated ₦757.25 billion, based on an average domestic price of ₦1,300 per litre.
The June figure represents a sharp increase from the 232,000 metric tonnes exported in May and marks the highest volume shipped to Europe since Dangote Refinery began producing aviation fuel in 2024. The achievement further strengthens Nigeria’s position as a net exporter of jet fuel.
In contrast, U.S. jet fuel exports to Europe declined significantly over the same period, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and further to 399,000 metric tonnes in June, allowing Nigeria to emerge as the continent’s leading supplier for the month.
The surge in Nigerian exports came despite a weakening European jet fuel market, where prices have fallen sharply following the easing of tensions in the Middle East. Analysts attribute the oversupply to increased refinery output across Europe, the United States, and Nigeria, alongside the gradual resumption of shipping through the Suez Canal.
A market trader quoted in the report said refinery operators delayed maintenance earlier in the year to maximise profits during periods of elevated prices, resulting in higher production levels.
Data from Platts showed that the Northwest Europe Jet CIF cargo assessment for July dropped to $981.75 per metric tonne by June 30, down from $1,694.25 per metric tonne recorded on March 30. The August contract also declined to $968.25 per metric tonne, compared to $1,507.50 during the same period.
Despite the current oversupply, analysts believe market conditions could tighten in the coming months as summer travel demand strengthens and refiners prioritise diesel production over jet fuel. They also noted that developments around the Strait of Hormuz and the pace of recovery of Middle Eastern refineries will remain key factors influencing global supply.
Meanwhile, figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that Dangote Refinery exported about 1.66 billion litres of refined petroleum products in April 2026. The exports comprised 513 million litres of petrol, 534 million litres of diesel, and 615 million litres of aviation fuel.
Dangote Refinery, currently Nigeria’s only large-scale refinery producing refined products in volumes sufficient for both domestic consumption and export, has continued to reshape the country’s petroleum sector. The refinery also exported approximately 434 million litres of petrol in March after local production exceeded domestic demand.
The latest export figures underscore Nigeria’s growing influence in the global refined petroleum market and reinforce its transition from one of the world’s largest importers of refined fuel to an emerging export hub for petroleum products in Africa.
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