The United States has imported over two million barrels of jet fuel from Dangote Petroleum Refinery & Petrochemicals in March, it has been revealed.
The US is the latest to buy jet fuel from the world’s largest single-train refinery as the 650,000-facility continues to spread its tentacle across the world.
It had earlier commenced export of Jet fuel to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally.
For the US, data from ship-tracking service Kpler indicated that six vessels carrying around 1.7 million barrels of jet fuel from Dangote refinery arrived at US ports this month.
Another vessel, the Hafnia Andromeda, is set to arrive at the Everglades terminal on 29th March with approximately 348,000 barrels of jet fuel.
This is expected to lower prices of jet fuel in the US, according to analysts amid the maintenance-related shutdown at the Phillips 66 Bayway refinery in New Jersey.
This shipment to the United States followed 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.
The 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 the 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 the Dangote refinery.”
Reuters in a report said Dangote had already shown signs of success in competing with European refiners on gasoline exports.
The jet fuel shipments to the US, it said, could challenge domestic producers’ economics in the largest fuel consuming nation, the report said.
Economist and Chief Executive Officer of the Centre for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, stated that the export of jet fuel to the United States by the Dangote refinery is a pride for Nigeria, adding that this reflects the quality, standard, and the trust that the international community places in the refinery.
“Nothing could be more prideful for us as a country than the fact that we now have a refinery producing products that can be exported to the United States. It speaks to the quality, standards, and trust that international communities have in Dangote Refinery, because these are markets that don’t compromise on quality,” he said.
