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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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    Bloomberg reveals the role of Iraq and Saudi Arabia in supplying Europe with crude oil

    Rocky
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    Bloomberg reveals the role of Iraq and Saudi Arabia in supplying Europe with crude oil Empty Bloomberg reveals the role of Iraq and Saudi Arabia in supplying Europe with crude oil

    Post by Rocky Sat 23 Jul 2022, 4:26 am

    [size=35][size=35]Bloomberg reveals the role of Iraq and Saudi Arabia in supplying Europe with crude oil[/size]
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    Economie

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    2022-07-23 | 01:49
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    Alsumaria News - Follow-up
    agency "Bloomberg" reported that Saudi Arabia and Iraq supplied Europe with crude oil, which helps the oil refineries on the continent to overcome the shortage it suffers from.


    The agency said that more than one million barrels of crude oil arrived in Europe from the [url=https://www.alsumaria.tv/Entity/47078/%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D8%B4%D8%B1%D9%82 %D8%A7%D9%84%D8%A3%D9%88%D8%B3%D8%B7 %D8%A7%D9%84%D8%B4%D8%B1%D9%82 %D8%A7%D9%84%D8%A3%D9%88%D8%B3%D8%B7/ar/]Middle East[/url] on a daily basis in the first three weeks of July, through a pipeline crossing Egypt, and according to ship tracking data collected by Bloomberg, the volumes almost doubled from what they were a year ago.






    Russia's military operation in Ukraine provoked a backlash among European companies, with many opting to stop doing business with Moscow. However, the so-called "self-punishment" raised the question of where Europeans would find alternative supplies.

    Shipments are dominated by[url=https://www.alsumaria.tv/Entity/47950/%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9 %D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9 %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9/ar/]Kingdom Saudi Arabia[/url]On the flows through the pipes, but[You must be registered and logged in to see this link.]Also increases deliveries. Companies can either deliver in a pipeline called SuMed that crosses[You must be registered and logged in to see this link.]Or, if there are ships small enough, the oil can move directly through the Suez Canal to the Red Sea. and shipments[You must be registered and logged in to see this link.]You do the last thing.
    [rtl]Related Articles[/rtl]

    Piped supply volumes have increased from about 800,000 barrels per day in the previous month to the highest level, since the short increase during free-to-all production in April 2020. The shift comes as Russian crude oil volumes increase in the opposite direction, from Russian ports in the Baltic and Black Seas to buyers in India and China. This is given the abundance of cheap barrels in the two Asian countries at a time when fuel prices were rising.

    In addition to these flows, about 1.2 million barrels per day were shipped toward the canal from the Persian Gulf in the first three weeks of July, mostly from[You must be registered and logged in to see this link.].

    This could raise total flows from the Middle East to[You must be registered and logged in to see this link.]to 2.2 million barrels per day, an increase of nearly 90% since January, the last month before the start of the Russian military operation in Ukraine. And he said



    [url=https://www.alsumaria.tv/Entity/3731909988/%D8%AC%D9%8A%D9%88%D9%81%D8%A7%D9%86%D9%8A %D8%B3%D8%AA%D9%88%D9%86%D9%88%D9%81%D9%88/ar/]Giovanni Stonovo[/url], commodity analyst at[url=https://www.alsumaria.tv/Entity/477195594/%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9 %D9%8A%D9%88 %D8%A8%D9%8A %D8%A5%D8%B3 %D8%A5%D9%8A%D9%87 %D8%AC%D9%8A/ar/]UBS Group AG[/url], on Middle East crude: “We are now seeing some of those barrels being redirected away from Asia to[You must be registered and logged in to see this link.]It comes with a rise[You must be registered and logged in to see this link.]Reducing its purchases of Russian barrels and sending[You must be registered and logged in to see this link.]its oil instead to a major market, to Asia.

    she says "[You must be registered and logged in to see this link.]“It is not certain whether the flows from the Middle East to[You must be registered and logged in to see this link.]sustainable. At the end of this year, the European Union's ban on Russian crude oil is due to come into effect. Part of the sanctions package includes a ban on securing shipments of Russian supplies to any buyers. And he said

    And if the insurance ban affects overall exports, something the US Treasury fears, it could intensify competition for supplies from the Middle East once again.

    This week, the Saudi Offshore Oil Tanker Company chartered a supertanker to transport crude oil from the Mediterranean to Rotterdam, a rare contract for the tanker company in the kingdom that underscores the shift in flows.

    The adjustment in where the barrels move is also a reminder of the logistical challenges that may arise when buyers wean themselves off Russian crude. Shipments have to travel longer distances, which boosts the employment of the world's oil tanker fleet.

    Record profits for supertankers, which can carry two million barrels of crude oil, rose to their highest levels since April this week, although they are still relatively weak by historical standards.

    [url=https://www.alsumaria.tv/Entity/2183938839/%D9%84%D8%A7%D8%B1%D8%B3 %D8%A8%D8%A7%D8%B1%D8%B3%D8%AA%D8%A7%D8%AF/ar/]Lars Barstad[/url], CEO of Frontline Management AS, An appetite[You must be registered and logged in to see this link.]Middle East crude boosts so-called miles, a measure of demand that multiplies the amount of goods in the distance they are shipped.

    Barstad, who runs a management company for one of the world's largest tanker owners, said: "[url=https://www.alsumaria.tv/Entity/44154/%D8%A7%D9%84%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%8A/ar/]European Union[/url] imports of miles have at least doubled...and miles per ton of Russian oil tripled, if not more."

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      Current date/time is Mon 26 Feb 2024, 1:04 pm