Against the background of the European embargo, Moscow actively supplied “black gold” to China and India. However, these two markets are not enough for Russia to sell all the oil it produces.
Russian oil will be stored in Ghana as a buyer for the energy source cannot be found. According to Bloomberg’s report, the Russian Federation has already diverted around 600,000 barrels of oil from the Black Sea port to the African country.
It was noted that the oil-laden Thesposeus tanker reached the territorial waters of Ghana on Friday. The interlocutors of the publication say that from there it will be pumped into tanks located in the city of Tema.
Bloomberg writes that this is the first arrival of Russian oil to West Africa since at least October 2018. At the same time, Ghana itself is engaged in oil exports, so it hardly needs this party. Traders may need temporary storage to find new buyers for oil from the Russian Federation.
As the agency noted, against the backdrop of the European embargo, Moscow was actively supplying “black gold” to China and India. However, these two markets are not enough for Russia to sell all the oil it produces.
Meanwhile, according to the International Energy Agency, Russia’s oil revenues in January 2023 13 billion dollars This is 36% less than a year ago. At the same time, the total volume of oil exports almost increased. 300,000 barrels despite the decrease in supply to Europe by 450,000 barrels per day.
Russian goods may appear in the European Union
Imports of Russian energy resources increased in Tunisia, Morocco, Algeria and Egypt following the EU sanctions on oil and petroleum products from Russia. At the same time, the increase in imports to Tunisia and Morocco is accompanied by an increase in their own exports of petroleum products. Thus, Russian petroleum products can be mixed with other goods and re-exported, making it difficult for the West to turn away from Russian fuel.
Kpler senior oil analyst Victor Katona told The Wall Street Journal on Feb. 26 that the volumes North African countries are importing are too large for them to fully utilize on their own. He believes part of Russian oil production will end in Europe.
“Believe me, we are not seeing a renaissance in the Maghreb refinery,” Cato said of the North African region’s oil purchases.
Recall that on January 21, it was learned that a ship capable of carrying 22.5 thousand tons of smuggled oil from Russia was detained in Durresi, Albania.
Moreover Focus He wrote that the Russian Federation stopped oil supplies to the Polish company PKN Orlen SA on February 25 through the Druzhba pipeline.
Source: Focus
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