The Dangote Petroleum Refinery has exported over two million barrels of jet fuel to the United States and approximately 130 million litres to Saudi Arabia, in a huge milestone for Nigeria’s growing dominance of the global fuel market.
Six vessels carrying around 1.7 million barrels of jet fuel from the refinery came this month to U.S. ports, ship-tracking agency Kpler reported. A further vessel, Hafnia Andromeda, is due to arrive at the Everglades terminal on March 29 carrying some 348,000 barrels. The rise in U.S. imports demonstrates the refinery’s ability to produce high-quality fuel to stringent international standards.
The refinery’s supply to Saudi Aramco further showcases its competitive advantage, putting Nigeria at the forefront of fuel supply outside Africa and into the Middle East. At 650,000 barrels a day, Dangote Refinery will challenge the world in fuel trade by becoming an Atlantic Basin powerhouse supplier.
The refinery’s success, specialists believe, is a source of national pride, as it indicates the quality of its products and the trust placed in them by overseas customers. “Nigeria’s exports are pushing U.S. jet fuel prices downward in anticipation of the peak summer travel season,” comments Steven Barsamian, TankTiger chief operating officer.
Economist Dr. Muda Yusuf emphasized that the ability of the refinery to satisfy U.S. and Saudi standards is a justification for Nigeria’s credibility internationally. He appealed to the government and people to get behind the refinery as it enhances the country’s economic and industrial stature.
Nigeria would have avoided its present economic troubles unemployment and inflation if it had refineries, public policy analyst Dr. Abimbola Oyarinu opined.
The role of the refinery in checking foreign exchange outflow and Foreign Earnings in spite of resistance from some elites was emphasized by him.
With production begun in January 2024, Dangote Refinery has exported products to almost every continent. Its expanding presence could overhaul world fuel trade flows and perhaps pose threats to European and American refiners, analysts comment.
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