Page 15 - DMEA Week 38 2022

DMEA NEWS IN BRIEF DMEA

business new africa / business new europe

Italy, like many other European countries, has cross-border shipments. September following a July agreement between
been trying to secure energy needs to offset the The Hashemite kingdom’s Minister of Energy Amman and Baghdad on the resumption, with
Russian gas it usually depends on, in light of and Mineral Resources Saleh Al-Kharabsheh Iraq completing all of the required logistical
the Russia-Ukraine war. Algeria was a priority was quoted in a September 19 statement released preparations. Al-Kharabsheh’s predecessor Hala
choice for Italy in that regard. by his ministry as saying that Iraq had resolved Zawati said that crude flows had stopped after
bna/IntelliNews, September 19 2022 the transportation issue, allowing trucks to prices fell below $20 per barrel.
resume loading Kirkuk crude for delivery to Jor- The deal was extended in late January 2021
Ghana’s central bank to sell dan’s Zarqa refinery near Amman. after a meeting between Prime Ministers
The MEMR said that Jordan had imported Mustafa al-Kadhimi and Bisher al-Khasawneh.
$420mn of liquidity to BDCs around 2.53mn barrels of Iraqi oil between Sep- Jordan reported that flows had averaged 9,899
tember 2021 and July 2022.
bpd from September 1, 2021, and January 30,
in last quarter of 2022 nally signed in February 2019 and subsequently 2022.
Under the terms of a bilateral deal origi-
bne/IntelliNews, September 21 2022
The Bank of Ghana (BoG) will sell a total of renewed last year, Iraq agreed to cover around
$420mn in liquidity to Bulk Oil Distribution 7% of Jordan’s oil demand – 10,000 barrels per Egypt joins the ranks
Companies (BDCs) through banks in Q4-2022 day (bpd) – trucking crude from the Baiji refin-
in its Foreign Exchange Auctions, up from ery to Zarqa. After lengthy delays, the first batch of nations racing to
$150mn in Q3-2022. of Iraqi crude was trucked from Baiji to Jordan
The provision of US dollars to BDCs is aimed via Kirkuk in September 2019. pick up Russian oil
at boosting the supply of liquidity and help sta- At the time, it was reported that Jordan would
bilise the cedi, while also ensuring the supply of purchase the oil at a $16 per barrel discount to Egypt is joining the ranks of nations racing to
petroleum products in Ghana. While $60mn Brent in order to cover the transport and devia- pick up Russian oil on the cheap, with shipments
will be auctioned in September, $120mn will be tion in specifications, with Iraqi goods exported of oil jumping up from one in August 2021 to
sold in October, November and December 2022, through Aqaba port receiving preferential rates 51 in August 2022, media sources including
respectively, in bi-monthly auctions. in return. Bloomberg reported.
The cedi has been under immense pressure, However, last year, Alaa al-Yasiri, general Bloomberg floated a highly speculative report
falling against the US dollar by over 35% this manager of Iraq’s state oil marketer Somo, told in August that Russia was shipping oil to the El
year, following the downgrade of Ghana’s credit Iraq News Agency (INA): “The Oil Marketing Hamra oil terminal on the North Coast, which is
by three ratings agencies – Fitch, Moody’s and Company does not have differential prices, but able to store 1.5mn barrels of crude. Around the
S&P. rather fixed prices according to the market ... same time, the Petroleum Ministry announced a
bna/IntelliNews, September 21 2022 Jordan stipulated that, according to the Cabinet’s large-scale expansion of the terminal that would
decision, the transportation cost was calculated more than triple storage capacity to 5.3mn
at $11 from Baiji to Jordan, and this is among the barrels.
TERMINALS & SHIPPING items of bilateral agreements between the two Russia is a strategic partner for Egypt, with
countries, and the supreme interest is valued by Russian President Vladimir Putin touting Cairo
Jordan resumes oil the country and the government.” as Moscow’s most important partner in Africa
and Middle East. Bilateral trade between Russia
With security issues in Iraq leading to a five-
imports from Iraq year hiatus from 2014 to 2019, shipments were and Egypt includes the latter exporting to Rus-
severely affected again in 2020 by the pandemic, sia over $500mn of fresh vegetables annually,
Jordan has resumed importing crude oil from and the resultant drop in oil price led to sev- while Russian tourist arrivals to Egypt currently
Iraq following the resolution of a logistical eral pauses in supplies and no crude at all sent exceed 1mn per year and their importance will
issue that saw its eastern neighbour pause the to Jordan in August 2020. Cargoes resumed in only grow by time.
bna/IntelliNews, September 22 2022

Decklar announces new
arrangements for delivery

and export of crude oil

from Oza oilfield

Decklar Resources has provided an update on
operational activities relating to the transporta-
tion and export of crude oil produced from the
Oza oilfield in Nigeria.
Decklar and its co-venturer Millenium Oil &
Gas Co. are pleased to announce that the 7,800
barrels of crude oil previously delivered to the
Umugini Pipeline Infrastructure Limited crude
handling facilities has now been delivered to the
Forcados crude oil export terminal.

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