Fuel in Europe: Dangote refinery captures a share of the Middle Eastern market

The Dangote refinery in Nigeria has started supplying approximately 80,000 barrels per day of kerosene to Europe, covering nearly 13% of the shortfall caused by Iran's closure of the Strait of Hormuz. This situation has allowed Dangote to become the leading supplier of kerosene in Europe, while diesel and gasoil exports have also increased by 23% in 2026. The refinery, which cost $20 billion and began operations in 2024, generated a net profit of $1.82 billion in the first half of 2026.