GREEN DOCK 3 successfully transits Suez Canal in 24-hour operation    Gold prices rise on Monday    Oil prices hold near 2-week highs    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    GAFI launches guideline for cash investment Incentive to support industrial projects    Egypt launches initiative to transform petroleum waste into value-added resources    Egypt, Qatar press for full implementation of Gaza ceasefire    Egypt, China's CMEC sign MoU to study waste-to-energy project in Qalyubia    Egypt plans new policies to drive private sector growth in tourism, energy, health    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Egypt launches 32nd International Quran Competition with participants from over 70 countries    Al-Sisi reviews expansion of Japanese school model in Egypt    Egypt launches National Health Compact to expand access to quality care    Netanyahu's pick for Mossad chief sparks resignation threats over lack of experience    US warns NATO allies against 'bullying' American defence firms amid protectionism row    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



India, Egypt primary destinations for Russian fuel oil in April
Aya Anwar Published in Amwal Al Ghad on 23 - 05 - 2024

India and Egypt were primary destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in April, Reuters reported citing LSEG data and traders.
Overall, Russian fuel oil and VGO seaborne exports saw a 10 per cent decline in April compared to the previous month, totaling around 3.32 million tons.
This drop was attributed to refining capacity being sidelined due to maintenance, technical issues, and drone attacks. However, there was a 13.6 per cent increase in exports from March.
Since the European Union (EU) implemented a complete embargo on Russian oil products in February 2023, most of Russia's fuel oil and VGO have been redirected to other regions, particularly Asia.
In April 2024, direct shipments of fuel oil and VGO from Russian ports to India rose to 0.6 million metric tons from 0.4 million tons in the prior month. Conversely, fuel oil loadings to China decreased to about 450,000 tons from 660,000 tons in March.
Traders noted that both China and India import straight-run fuel oil and VGO for refining, partly substituting costlier Urals barrels.
Fuel oil supplies to Egypt surged in April to nearly 0.5 million tons from 0.1 million tons in March, with all cargoes being discharged at Ain Sukhna Terminal, according to shipping data.
This terminal serves as storage and blending facilities for traders, who procure fuel oil for power generation ahead of the summer season.
In May, approximately 200,000 tons of fuel oil had been loaded in Russian ports to cater to the Ain Sukhna Terminal, according to LSEG data. Moreover, Russian VGO and fuel oil loadings to Fujairah spiked in April to about 260,000 tons from 60,000 tons in March.
However, fuel oil supplies from Russia to Senegal dropped last month to about 100,000 tons from 310,000 tons in March, while loadings to Saudi Arabia decreased to 200,000 tons compared to 490,000 tons previously, according to shipping data.
Additionally, around 300,000 tons of VGO and fuel oil loaded in Russian ports in April were designated for ship-to-ship transfers near Greece and Malta. Most of these cargoes eventually find their way to Asia, according to market sources.

Clic here to read the story from its source.