… experts hail refinery, call for support
Dangote Petroleum Refinery & Petrochemicals has extended its influence globally, with the United States importing over two million barrels of jet fuel from the world’s largest single-train refinery in March.
Kpler data reveals that six vessels, transporting approximately 1.7 million barrels of jet fuel from Dangote Petroleum Refinery, have arrived at US ports this month, with another shipment of 348,000 barrels scheduled to arrive on March 29.
As Africa’s largest refinery, with a capacity of 650,000 bpd, Dangote Refinery is transforming the global fuel trading landscape, becoming a significant swing supplier in the Atlantic Basin.
READ ALSO: Dangote Refinery slashes diesel price by N55
Following its successful export of 130 million litres of jet fuel to Saudi Arabia, the Dangote Petroleum Refinery has now shipped a significant cargo to the United States, potentially disrupting the domestic jet fuel market and challenging the economics of local producers.
According to Steven Barsamian of TankTiger, the surge in US jet fuel imports from Nigeria, including Dangote Refinery, is expected to drive down prices, benefiting consumers during the peak summer travel season.
The Dangote Refinery, which commenced production in January 2024 has swiftly established itself as a major player in global markets, exporting products worldwide, including to the US, where it has capitalized on a maintenance shutdown at the Phillips 66 Bayway refinery.
Dr. Muda Yusuf, a renowned economist and CEO of CPPE, hailed Dangote Refinery’s jet fuel export to the US as a milestone, reflecting the refinery’s commitment to quality and standards, and the confidence of the international community in its products.
Dr. Muda Yusuf, former LCCI Director-General, also stressed that Dangote Refinery is elevating Nigeria’s global standing and urged citizens and the government to provide unwavering support, as it breaks barriers and enhances the country’s reputation, offering significant leverage for Nigeria.
According to Dr. Abimbola Oyarinu, a Public Policy Expert, Nigeria’s economy would be better off today if the country had invested in functional refineries years ago, rather than exporting crude oil and importing refined products.¹ He notes that having a functioning refinery would have mitigated issues like high inflation and unemployment, but unfortunately, both the government and citizens failed to act until Dangote’s significant investment.
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