The Dangote Petroleum Refinery has shipped 1.7 million barrels of jet fuel to the United States this month, even as Nigeria faces petrol supply challenges, according to data from ship-tracking service Kpler.
The data revealed that six vessels carrying jet fuel from Dangote Refinery have already arrived at U.S. ports, while another vessel, Hafnia Andromeda, is expected to reach the Everglades terminal on March 29 with 348,000 barrels of jet fuel.
This development has pushed U.S. jet fuel imports to a two-year high, with total imports for March 2025 reaching approximately 226,000 barrels per day (bpd)—the highest since February 2023.
The surge in exports comes amid controversies over crude oil supply to the Dangote Refinery and fuel availability in Nigeria. The Nigerian government’s decision to cancel the naira-for-crude deal with the refinery has sparked panic among fuel marketers and consumers.
The 650,000 bpd refinery, which began production in January 2024, recently suspended the sale of petrol in naira, citing a mismatch between its sales revenue and crude oil purchase obligations, which are denominated in U.S. dollars.
In a statement, the refinery said:
“To date, our sales of petroleum products in naira have exceeded the value of naira-denominated crude we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency.”
Following this announcement, the cost of loading petrol at private depots in Lagos jumped to ₦900 per litre, up from ₦850 per litre.
Industry analysts suggest that Dangote Refinery is unlikely to become a regular supplier of jet fuel to the U.S. market. However, a shutdown at the Phillips 66 Bayway refinery in New Jersey created a rare opportunity for fuel flows from Nigeria to the U.S., according to Sparta Commodities analyst James Noel-Beswick.
With U.S. jet fuel inventories rising and demand for storage tanks surging, analysts predict that the price of jet fuel in the U.S. may drop ahead of the summer travel season.
The U.S. Energy Information Administration (EIA) reported that jet fuel stocks reached 45.2 million barrels by the end of February, the highest level for the month since 1999. The agency also projected that U.S. jet fuel consumption will hit a record high in 2026.
