The Dangote Petroleum Refinery has sold out its jet fuel supply to European markets for August and September, with the refinery now reserving available aviation fuel for the Nigerian market.
Chairman of Dangote Petroleum and Petrochemical Limited, Aliko Dangote, disclosed this on Monday during the formal launch of the refinery’s initial public offering (IPO) on the Nigerian Exchange Group trading floor in Lagos.
Dangote said the refinery had expanded its market beyond Nigeria, supplying petroleum products to other African countries and international destinations.
He described the facility as the largest supplier of jet fuel to Europe, noting that demand for its aviation fuel had been strong enough to exhaust its European allocation for the period.
According to him, the refinery has sold out its jet fuel supply for August and September, while deliberately setting aside stock for Nigeria.
“We are also serving other African markets and international markets,” Dangote said.
He added that the refinery was being cautious in managing its growing international business while ensuring that the domestic market continued to receive supplies.
The development highlights the growing role of the 650,000-barrel-per-day Dangote Refinery in regional and international petroleum-product markets, particularly the aviation-fuel segment.
The refinery’s expanding export market comes as the company begins its IPO, with the share sale expected to broaden public ownership of the facility and support its next phase of expansion.
