The Dangote Refinery’s fuel production is reshaping global fuel markets, with major effects on Europe’s petrol imports, according to the Organisation of the Petroleum Exporting Countries (OPEC). The refinery’s increased output has reduced Nigeria’s dependence on fuel imports, creating noticeable shifts in the international gasoline trade.
Since commencing operations in September 2024, the 650,000-barrel-per-day refinery has started producing Premium Motor Spirit (PMS), contributing to a rebalancing of global supply chains. Traditionally, Nigeria relied heavily on European gasoline imports, but the Dangote Refinery’s growing production is freeing up gasoline volumes, disrupting the flow of petroleum products into Europe.
OPEC’s report underscores that the refinery is not only addressing Nigeria’s domestic fuel needs but also influencing global trade dynamics. The adjustments in European markets are part of broader changes as global gasoline flows adapt to the refinery’s operations.
In November 2024, the refinery introduced price cuts that lowered local fuel costs in Nigeria, bringing relief to consumers while altering international trade strategies. With plans to further expand its production capacity, the Dangote Refinery is expected to play a pivotal role in shaping the global fuel market, particularly in Europe.
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