Nigeria’s Dangote Refinery has vaulted from a domestic fuel supplier into a major force in global energy markets, seizing on supply disruptions triggered by the Middle East conflict to ship record volumes of jet fuel to Europe and beyond, according to data presented at an industry webinar seen by BusinessDay.
Matthew Tracey-Cook, an official at S&P Global Energy, told participants at a Major Energies Marketers Association of Nigeria event last Thursday that Dangote had become the single largest exporter of jet fuel globally in May, measured by refined product capacity, a remarkable turn for a refinery that only recently began supplying its own domestic market in earnest.
“We actually saw in May Dangote being the largest single exporter of jet fuel globally in terms of refined product capacity,” Tracey-Cook said during the webinar, which examined shifting fuel supply routes across West Africa against the backdrop of the ongoing conflict.
The rise coincided with a severe disruption to European jet fuel supply chains. Before hostilities broke out, Europe sourced more than half of its jet fuel imports from Persian Gulf producers.
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