In a groundbreaking achievement, Dangote Refinery has successfully shipped 1.7 million barrels of jet fuel to the United States, defying the odds amidst Nigeria’s ongoing petrol trade crisis.
According to reports, six vessels carrying the jet fuel arrived at US ports this month, with another vessel, Hafnia Andromeda, set to arrive at the Everglades terminal on March 29 with a load of about 348,000 barrels.
This significant development is expected to lower prices of aviation fuel in the US during the peak summer travel season. The Dangote refinery, Africa’s largest, has started production after years of construction delays and has ramped up to about 85% of capacity, allowing it to sell more fuel to international markets.
The refinery’s ability to produce and export jet fuel is a testament to its capabilities and its potential to play a significant role in the global fuel market. This achievement is also a boost to Nigeria’s economy, as it provides a new source of revenue for the country.
However, the move may challenge domestic producers’ economics in the US, the largest fuel-consuming nation. Additionally, the window for these shipments may close soon due to elevated US inventories of aviation fuel.
Despite these challenges, Dangote Refinery’s achievement is a significant milestone for Nigeria’s oil and gas industry, and it demonstrates the country’s potential to become a major player in the global energy market.
