Photo for illustrative purposes only.
PHOTO BY ARCHIVE
According to traders and a shipping report on Monday, a shipping unit of France’s TotalEnergies has provisionally chartered a tanker to load Abu Dhabi crude for Europe in early May.
Shipping report showed that the CSSSA, TotalEnergies’ shipping arm, chartered the Suezmax tanker Moscow Spirit to load 1 million barrels of Murban crude from the port of Jebel Dhanna in the United Arab Emirates for Britain from May 1 to 3.
After European consumers abandoned Russian oil following Russia’s invasion of Ukraine, an arbitrage window for Middle Eastern crude to head to Europe opened.
More cargoes of Abu Dhabi crude grades – Murban, Das, and Upper Zakum – are expected to be exported to Europe to recover from the shortage.
The European Union is currently preparing more sanctions on Russian oil imports, which can divert some supplies away from Asia. BKM/ Expat Media
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