… Europe’s fuel crisis opens export opportunities for Nigerian refinery
Anietie Udobit, Abuja
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Nigeria’s Dangote Refinery is emerging as a major player in the global energy market after exporting about 1.66 billion litres of refined fuel amid growing disruptions in international supply chains.
The development comes as escalating tensions between the United States and Iran continue to destabilise oil and shipping routes in the Middle East.
Europe, currently facing severe jet fuel shortages and supply uncertainties, has increasingly turned to alternative markets, creating fresh opportunities for Nigeria’s massive refinery project.
Industry analysts say the refinery’s expanding footprint signals Nigeria’s growing influence in the global downstream petroleum market.
Despite the export success, local fuel prices remain high, with many Nigerians questioning why domestic pump prices continue to rise despite increased refining capacity within the country.
Economists say international crude prices, exchange rate pressures and market-driven pricing continue to shape local fuel costs.