May 16, 2023
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Ghana received its first shipment of crude oil from Russia in four years. This past weekend, the Theseus crude tanker was cleared to dock after a six-week wait.
The cargo of 600,000 barrels departed from Novorossiysk in Russia’s Black Sea port at the end of January and arrived close to Ghana’s shores at the end of February.
The six-week wait was reportedly due to security concerns, but after claims that the crude was from Kazakhstan, Ghana allowed the oil tanker to dock. Data from tanker tracking firms and a port agent for Novorossiysk confirmed that it was shipping Russian crude.
The buyer of the cargo is believed to be Platon Gas Oil Ghana Ltd, and they won’t process it for at least six months – they’ve leased storage tanks from the Tema oil refinery, where they delivered the cargo this past weekend.
Russia has been looking into Africa for more opportunities to sell its crude oil since EU sanctions on seaborne imports took effect in early February.
North African countries have already become primary export outlets for Russian diesel and petroleum products, and Ghana in West Africa could be another such opportunity.
Reference: All News, Oil Price
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