Frances TotalEnergies to ship Abu Dhabi crude to Europe in rare move -sources

div classBodysc17zpet90 cdBBJodivpBy Florence Tanp

pSINGAPORE Reuters – A shipping unit of Frances TotalEnergies has provisionally chartered a tanker to load Abu Dhabi crude in early May for Europe in a rare move, according to traders and a shipping report on Monday.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pCSSSA, TotalEnergies shipping arm, chartered suezmax tanker Moscow Spirit to load 1 million barrels of Murban crude from the port of Jebel Dhanna in the United Arab Emirates for the United Kingdom on May 13 at a worldscale rate of 60 points, the shipping report showed.p

pThe arbitrage window for Middle East crude to head to Europe opened after European buyers shunned Russian oil following Moscows invasion of Ukraine, what Russia calls “a special operation”.p

pMore Abu Dhabi crude cargoes are expected to head to Europe in the months to come, possibly diverting some supplies away from Asia, as the European Union prepares more sanctions on Russian oil imports, traders said.p

pRussia is Europes biggest oil supplier, providing 26 of EU imported oil in 2020. p

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pp Reporting by Florence Tan Editing by Himani Sarkarp

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