No one to sell: Russia sends its oil for storage in Africa - Bloomberg

It is noted that the tanker Thesusus with oil arrived in the territorial waters of Ghana last Friday. The interlocutors of the publication say that from there it is pumped to the tanks that are in the city. Vloomberg writes that this is the first time when Russian oil has arrived in West Africa since October 2018. In this case, Ghana herself is engaged in oil export, so she is unlikely to be needed. Temporary storage may be needed by traders to find new oil buyers from the Russian Federation.

According to the agency, against the background of the European embargo Moscow actively supplied "Black Gold" to China and India. But these two markets are not enough for Russia to sell all the oil being produced. In the aftermath of the International Energy Agency, in January 2023, Russian oil revenues amounted to $ 13 billion - 36% less than last year.

At the same time, the total volume of oil exports increased by almost 300,000 barrels a day, despite the decrease in supply to Europe by 450,000 barrels per day. After the introduction of sanctions on oil and petroleum products from Russia by the EU, the surge of imports of Russian energy resources was recorded in Tunisia, Morocco, Algeria and Egypt. In this case, the increase in imports to Tunisia and Morocco is accompanied by an increase in their own exports of petroleum products.

Thus, Russian petroleum products can be mixed with other goods and re -export, which complicates the desire of the West for the abandonment of Russian fuel. On February 26, the senior oil analyst of Kpler told The Wall Street Journal that the volumes imported by the North African countries were too large so that they can be fully used on their own. He believes that some Russian oil will get to Europe.

"Believe me, we do not see any Renaissance in the refining of the Maghrib," Kato said about the purchase of petroleum products in the North African region. It should be reminded that on January 21 it became known about the detention of a vessel in the Albanian city of Durresi, which could carry smuggling 22. 5 thousand tons of oil from Russia. Focus also wrote that on February 25, the Russian Federation stopped supplying oil to the Polish company PKN ORLEN SA because of the Friendship oil pipeline.