Europe, Middle East & Africa
Last week we showed growing exports for Iran, Iraq, Nigeria and Libya. Find below some insights:
After a record high in April, Iraq exports from Basrah terminal have stabilized around 3.2 MMbpd. However, the exports from Turkish port Ceyhan have been growing since pipeline attacks in February. Exports stand 60 kbd below January levels.
Since sanctions were lifted last year, Iran has managed to penetrate European markets. Total was the first major to resume Iranian oil purchases in February followed by Shell in July and BP in October. Below, we can see how Totalhas been growing Iranian crude imports into its MED and NWE refining systems in France.
After Qua Iboe took over operations following 2 months of disruption, Forcados has also resumed loadings in October. Suezmax Everbright was the first vessel to load and is expected to arrive in Germany (Wilhelmshaven) by the end October . Front Balder loaded on October 18 and Maran Penelope is expected to load on October 28. No AIS destination was sent for the last 2 vessels.