Online Reporter
The Dangote Refinery, has strengthened its position in the petroleum industry with the export of two cargoes of aviation fuel to Saudi Arabia. The shipment, bound for Saudi Aramco — one of the world’s largest companies by market cap — highlights Dangote refinery’s expanding influence in the global energy market.
Saudi Aramco is a majority state-owned petroleum and natural gas company and the national oil company of Saudi Arabia.
According to BusinessDay, Dangote Group President, Aliko Dangote revealed the development during a tour of the refinery by directors of the Nigerian Economic Summit Group (NESG).
“We are already reaching the ambitious goals we set for ourselves, and we are pleased to announce that we have just sold two cargoes of jet fuel to Saudi Aramco,” Dangote stated.
Since its launch, Dangote Refinery has successfully supplied the Nigerian aviation industry with JET A1 fuel and exported it to international destinations such as Iceland and London.
S&P Global Commodity Insights reports that the Dangote Refinery, which produces Nigerian-made aviation fuel, is expanding its global influence, with its product now recommended for use in major hubs such as Heathrow Airport in the UK. The report highlights that between January and October 2024, a significant portion of the refinery’s supply was delivered to the Lomé transshipment hub off the coast of Togo.
As the sole supplier of jet fuel to Nigerian airlines, Dangote’s aviation fuel now accounts for at least two-thirds of Nigeria’s supply and nearly half of West Africa’s consumption. Consequently, Nigeria’s jet fuel imports have significantly decreased from 13,000 b/d in 2023 to 5 000 b/d in 2024.
British Petroleum (BP) also purchased its first jet fuel cargo from the Dangote Refinery. Sources confirmed that the shipment, carried by the vessel Doric Breeze, marked BP’s inaugural purchase, amounting to approximately 45 000 metric tons. — Business Insider Africa
