US buys petrol from Dangote refinery – Report

Reports have it that the number of jets buying petrol from Dangote refinery have surged higher than previous months.

In a report by Reuters, the news agency said U.S. fuel imports are set to hit a two-year high in March.

This is coming few months after Nigeria’s Dangote refinery pushed barrels to North America, which should lower prices of the aviation fuel in the peak summer travel season, trade analysts and storage brokers said.

The shipments by the 650,000 barrels-per-day (bpd) Dangote refinery, Africa’s largest, highlight its potential to reshape global fuel trading dynamics by creating a new swing supplier in the Atlantic Basin.

It has already shown signs of success in competing with European refiners on gasoline exports, and the jet fuel shipments to the United States could challenge domestic producers’ economics in the largest fuel consuming nation.

Six vessels carrying about 1.7 million barrels of jet fuel from the Dangote refinery arrived at U.S. ports this month, data from ship-tracking service Kpler showed. Another vessel, Hafnia Andromeda, is set to arrive at the Everglades terminal on March 29 with a load of about 348,000 barrels of jet fuel, the data showed.