Europe will take Abu Dhabi oil to replace Russian oil

Europe will take Abu Dhabi oil to replace Russian oil

A transport unit of France’s TotalEnergies has chartered a tanker to load crude from Abu Dhabi in early May to Europe, the first such cargo in two years, according to information from traders and a transfer report today.

CSSSA, the shipping arm of TotalEnergies, has chartered the Suezmax Moscow Spirit tanker to load one million barrels of Murban-type oil from the Jebel Dhanna port in the United Arab Emirates to the United Kingdom from May 1-3, according to a report.

Refinitiv Eikon data showed that the last DAS crude shipment from Abu Dhabi was carried out in May 2020 to Italy.

The arbitration window for Middle Eastern oil to Europe opened after European buyers shunned Russian oil in the wake of Russia’s invasion of Ukraine, which the neighboring country’s action described as a “special operation”.

Traders said that more crude oil shipments from Abu Dhabi – Murban, Das and Upper Zakum – are expected to arrive in Europe in the coming months to make up for the Russian deficit as the European Union prepares for more sanctions on Russian oil imports, which could divert some supplies going to Asia.

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