Russia finds a new way to the oil market through the port of Egypt
Russia seems to have found a new way to deliver its oil to the market, entering the Western awards Hanging over it.
The cargo of about 700,000 barrels of oil was delivered to the Egyptian Al Hamra oil terminal on the Mediterranean coast in the early hours of July 24. Hours later, another vessel took some out of the port, which showed a noticeable impact on some or all of the oil in Russia, according to Bloomberg data.
The unusual move is to track the final destination of the cargo, exacerbating Ukraine’s oil exports.
Russian oil is sent to Egypt. In July 2022, a batch of Russian oil was unloaded in Egypt.
El Hamra, which operates the Egyptian Western Desert Operating Petroleum Co., has six storage tanks capable of holding 1.5 million barrels of crude oil and one loading and unloading buoy. The terminal was built to transship crude oil produced in the western exploitation of Egypt, which makes it possible to characterize Russian oil with limited grades.
The owner of the Al-Hamra terminal did not respond to repeated phone calls with him.
A few hours after the first tanker, the Crested, left El Hamra, another one, the Chris, arrived. A ship that has already been in the terminal for several days but has moved away from the berth is available to Crested to moor as product media.
When Chris finally left El Hamra on 28 July, his cargo tanks were nearly full, as was the available tracking data. It is currently moored at the Ras Shuheir oil terminal on the Red Sea coast in Egypt. This terminal also makes it possible to designate Russian oil with Egyptian grades.
transit route
Egypt is already being used as a transit route for fuel oil. It is not clear if Al-Hamra is a one-time port or if the port is widely used for Russian oil flows.
Previously, tankers carrying Russian oil transshipped cargo from ships to a ship in the Spanish city of Ceuta in the North Atlantic Ocean. This is an unusual place for such activities, which are usually used in protected areas.
Another transshipment of crude oil appears to have taken place off Johor, near Singapore, in June. The area has already become a transshipment point for Iranian oil shipments bound for China.
The European Union ban on deliveries from Moscow, as well as on insurance and other transportation services, is due to come into effect later this year, increasing pressure on Russia to identify and test various shipments to its cargo buyers.
According to Bloomberg
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