Africa’s largest oil refinery, the Dangote Refinery, has reached a significant milestone with the successful shipment of its first jet fuel cargo to Europe. This event marks another achievement for the new oil plant, which has been rapidly scaling up production since its launch in April 2023.
The inaugural shipment, loaded onto the “Doric Breeze” vessel, departed from the Lekki Free Zone in Lagos on May 27th and is currently en route to Rotterdam, Netherlands, according to S&P Global Commodities at Sea data.
The cargo contains 45,000 metric tons of jet fuel and was awarded to BP as part of a 120,000-metric-ton tender offered by the refinery. Additionally, Spanish refiner Cepsa secured a portion of the tender and is expected to deliver jet fuel to the continent soon.
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The successful export of jet fuel to Europe is a notable accomplishment for the Dangote Refinery, which has been actively increasing its production capabilities. The refinery, which began operations just over a year ago, has already established itself as a significant player in the global oil market. Since its launch, Dangote Refinery has exported six jet fuel/kerosene cargoes, all delivered to destinations in Senegal, Togo, and Ghana.
Expansion and Export Plans
According to S&P Global, Dangote Refinery is currently projecting its first gasoline supplies to commence in June, with ultra-low sulfur diesel expected to be eligible for export to Europe by the third quarter of this year. To date, the refinery has exported naphtha, fuel oil, and gasoil to markets in Europe, Africa, and Asia.
However, naphtha exports may soon be curtailed to prepare for gasoline production, a representative for Dangote told Commodity Insights on May 20.
Since April, Dangote has been pushing around four cargoes of naphtha each month to Europe. These volumes could be reduced to boost domestic supplies for gasoline blending once the plant’s fluid catalytic cracker becomes operational. This strategic shift indicates the refinery’s adaptive approach to meeting both domestic and international market demands.
The Dangote Refinery’s increasing production and export activities have significant implications for the global oil market. The refinery’s ability to supply large volumes of refined products, such as jet fuel, gasoline, and diesel, is poised to enhance Nigeria’s position as a key energy exporter. Furthermore, the diversification of export destinations, including Europe, Africa, and Asia, underscores the refinery’s potential key role in the global energy industry.
The successful shipment of jet fuel to Europe has garnered attention and praise within the industry. Market analysts note that this milestone reflects the refinery’s operational efficiency and its capacity to meet international quality standards. The collaboration with major industry players such as BP and Cepsa further highlights the refinery’s credibility and competitive edge.
As Dangote Refinery continues to scale up its operations, it is expected to play a crucial role in addressing both local and international fuel needs. The refinery’s capacity to produce a wide range of refined products positions it as a pivotal contributor to energy security and economic development in Nigeria and beyond.
However, the road ahead is not without challenges. Nigeria’s oil production shortfalls, driven by oil theft and infrastructure vandalism, stand as significant obstacles for Dangote Refinery to actualize its full potential. This backdrop has forced the refinery to import oil products from the U.S., jettisoning its tradition of sticking to domestic sources.