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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    How many Iraqi oil tankers are stuck in the port of Suez .. Half a million Iraqi barrels may be affe

    Rocky
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    How many Iraqi oil tankers are stuck in the port of Suez .. Half a million Iraqi barrels may be affe Empty How many Iraqi oil tankers are stuck in the port of Suez .. Half a million Iraqi barrels may be affe

    Post by Rocky Sat 27 Mar 2021, 2:36 pm


    [size=30]How many Iraqi oil tankers are stuck in the port of Suez .. Half a million Iraqi barrels may be affected

    2021-03-27
    [/size]
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    Yes Iraq: Baghdad

    It seems that the economic talk in Iraq is isolated from what is happening in the world from the confusion of the trade situation due to the stuck tanker in the Suez Canal, which caused the closure of the waterway through which about 12% of the global trade flow flows.
    The popular and economic circles are discussing positive effects for Iraq from what is happening in the Suez Canal, represented by the rise in oil prices, at a time when Iraqi oil moves towards the Asian market in most of them, which makes the negative effects of the Suez Canal incident “limited” on Iraq.
    However, the economic expert, Nabil Al-Marsoumi, spoke in numbers about the amount of the negative impact of Iraq from this incident, as he shows that what is transferred from Iraqi oil through this corridor does not exceed half a million barrels per day, or between 3 to 5 tankers per month.
    Al-Marsoumi says that "the canal that separates Africa from the Middle East and Asia is one of the busiest trade routes in the world, as about 12 percent of total world trade passes through it."
    He added, "According to the tracking data of Lloyd's List, there are more than 160 ships waiting at both ends of the canal, including 41 huge tankers and 24 crude oil tankers," noting that "out of 39.2 million barrels per day of imported crude oil by sea in 2020, 1.74 were used." One million barrels per day of the canal, according to Kepler for tanker traffic data.
     
    He pointed out that "crude oil and refined products flow in both directions in the Suez Canal, which is 193 km long." In 2020, Europe imported 550,000 barrels per day of crude from sources east of Suez, most of it through the canal, according to Kepler's figures.
     
    South and East Asia imports through the canal amounted to 1.27 million barrels per day in June 2020.
    Al-Marsoumi indicates that "the potential impact on ethnic oil exports is limited because about 70% of exports go south through the sea to Asian markets and almost half of the remainder goes through the Turkish port of Jahan and the other half goes to European and American markets." "The volume of suzmax on a few tankers ranges between 3-5 tankers per month, and the quantity does not exceed half a million barrels per day, and there are currently between 1-2 tankers.
    He added, "However, the continuation of the closure will increase the number of stranded tankers, and the buyers of Iraqi oil may change the direction of the trip through the Arabian Sea, the Indian Ocean, then the Atlantic, then the Strait of Gibraltar to southern Europe or continue to northern Europe bound for Germany and elsewhere, which will lead to an increase in the cost of transportation and insurance."
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