Europe could increasingly turn to Nigeria’s Dangote refinery for jet fuel supplies following disruptions in the Middle East.
According to a report by Kpler, the effective closure of the Strait of Hormuz has cut off nearly 21 per cent of global seaborne jet fuel supply, significantly tightening availability in Europe.
The report noted that European imports could drop by almost 300,000 barrels per day, with about 247,000 bpd typically destined for North West Europe.
Kpler said the loss of Middle Eastern cargoes has left Europe with limited replacement options, as traditional backup suppliers in Asia are redirecting shipments to meet stronger regional demand.
“Eastern barrels are increasingly unavailable as strong Asian pricing and export restrictions in China, and potentially South Korea, divert cargoes away from Europe,” the report stated.
It added that cargoes from India, particularly from the Jamnagar refinery, would normally provide relief in such situations, but concerns over European Union sanctions linked to Russian crude have discouraged buyers.
With supply from the East constrained, attention is shifting to the Atlantic Basin, especially the United States Gulf Coast and West Africa, including the Dangote refinery.
