By Our Reporter
Nigeria is emerging as a major beneficiary of the escalating Middle East crisis, as supply disruptions in the region force Europe to seek alternative sources of jet fuel. At the centre of the shift is the $20bn Dangote Petroleum Refinery, which has rapidly become one of Europe’s key suppliers.
Fresh market data from the energy intelligence platform Kpler showed that jet fuel exports from the refinery to Europe surged to a record 272,000 metric tonnes between April 1 and 29, representing a 75% increase from March volumes. The figure also surpassed the previous record set in September last year.
The spike followed worsening instability in the Middle East and the disruption of supplies through the Strait of Hormuz, a strategic route that previously handled about 40 per cent of Europe’s jet fuel imports. The development has left European buyers scrambling for more stable and geographically closer suppliers.
France emerged as the biggest importer of Nigerian jet fuel in April with 163,000 tonnes, followed by Spain with 88,000 tonnes and the United Kingdom with 22,000 tonnes. Industry analysts said Nigerian cargoes accounted for 20 per cent of Europe’s total jet fuel imports in April, up from 10 per cent in March and just four per cent a year earlier.
Head of George Maher-Bonnett, Europe and Africa gasoline Gasoline Pricing Media, George Mgote Refinery had quickly become one of Europe’s few large-scale alternatives as buyers reduce dependence on Middle Eastern routes exposed to geopolitical risks.
The supply squeeze has also pushed global jet fuel prices higher, with West African cargoes trading near $1,600 per tonne despite easing premiums. Analysts warned that Europe could face fresh shortages between May and June, increasing reliance on supplies from Nigeria and the United States.
The development further strengthens Nigeria’s position in the global refined products market, with Dangote Refinery gaining recognition as a reliable exporter capable of meeting European fuel standards amid rising global energy uncertainties.
With additional information from the Guardian