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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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    Iraqi oil avoids the Suez Canal and resorts to the Cape of Good Hope

    Rocky
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    Iraqi oil avoids the Suez Canal and resorts to the Cape of Good Hope Empty Iraqi oil avoids the Suez Canal and resorts to the Cape of Good Hope

    Post by Rocky Wed 12 Jun 2024, 5:23 am

    Iraqi oil avoids the Suez Canal and resorts to the Cape of Good Hope
    • Time: 06/11/2024 23:58:24
       
    • Read: 2,171 times

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    {Economic: Al-Furat News} The US Energy Information Administration said today, Tuesday, that global energy shipments that changed their route to the Cape of Good Hope instead of the Suez Canal between Asia, the Middle East and the West, have increased by 47 percent since the attacks on ships in the Red Sea began.
    Ships resorted to taking this route, despite its long distance, to avoid attacks in Yemen, which led to higher shipping costs. Previously, about 12 percent of the total global shipping traffic passed through the Red Sea and the Egyptian Suez Canal.
    The US Energy Information Administration said in a statement that ship tracking data from Vortexa showed that about 8.7 million barrels of crude oil and refined products took the route through southern Africa daily during the first five months of 2024, up from 5.9 million on average during 2023.
    The administration added that shipments of petroleum products accounted for most of this increase.
    Saudi Arabia and Iraq sent more crude oil to Europe via the Cape of Good Hope instead of the Red Sea and the Suez Canal, representing 15 percent of the total increase, according to the US Energy Information Administration.
    Refining companies in Asia and the Middle East increased their exports of refined products to Europe and diverted their shipments to southern Africa, representing 29 percent of the increase.
    The Energy Information Administration indicated that the United States received crude oil and refined products from the Middle East and Asia and sent more products to Asia via the Cape of Good Hope route, adding that the volume of American trade in total increased by about a third, or a little more than 600 thousand barrels per day, through this route. The Road.
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