Dangote Petroleum Refinery is set to deliver three cargoes of aviation (jet) fuel, approximately 130 million litres, to the Kingdom of Saudi Arabia.
This is coming on the heels of its export of over two million barrels of aviation fuel to the USA this month, as it makes inroads into the international energy market.
Data from Kpler shows that six vessels carrying around 1.7 million barrels of jet fuel from the refinery arrived at the US ports this month. Another vessel, the Hafnia Andromeda, is scheduled to dock at the Everglades terminal on March 29 with approximately 348,000 barrels of jet fuel.
With a refining capacity of 650,000 barrels per day, the Dangote Refinery, Africa’s largest refinery, has positioned itself as a key player in global fuel trade.
Experts have attributed its entry into the US and Saudi markets to the high quality of its products and the growing confidence of international buyers in the products.
The refinery’s entry into the US market coincided with a maintenance-related shutdown at the Phillips 66 Bayway refinery in New Jersey.
However, analysts believe that the shipments from Dangote could influence jet fuel prices in the US, especially as the country heads into its peak summer travel season.
“The surge in supply from Nigeria is expected to lower jet fuel prices in the United States. March imports of jet fuel into the US have averaged around 226,000 barrels per day, the highest since February 2023,” said Steven Barsamian, chief operating officer of TankTiger, a US-based storage brokerage firm.
