ADVERTISEMENT
Get Started
  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us – Connect With Us
Homebase Tv - Hbtvghana.com
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
  • Home
  • General News
  • Business News
  • Health
  • Life & Style
  • Politics
    • Press Release
    • Parliament
  • Sports
No Result
View All Result
Homebase Tv - Hbtvghana.com
No Result
View All Result
ADVERTISEMENT
ADVERTISEMENT

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

Fri, Mar 3 2023 8:34 AM
in Business News
Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

0
SHARES
4
VIEWS
Share on FacebookShare on TwitterShare on TelegramShare on Whatsapp
ADVERTISEMENT

Massive chaos over Russian 600000 barrels of crude shipped to Ghana


The Herald is picking up mixed signals as to the real owners of the 600,000 tonnes of Russian fuel, which have been shipped and stored in Ghanaian tanks revealed by the international business news network, Bloomberg.

Whilst, some have linked the consignment to a Tema-based company by the name of Platon, others have sought to tie it to the government of Ghana, saying Platon doesn’t have the capacity to take delivery of such a huge consignment as the company can only refine a paltry 20,000 tonnes.

The Herald’s checks on the current position of Theseus, the Crude Oil Tanker carrying the huge consignment said, it is “at West Africa reported 8 days ago by AIS. The vessel is en route to GH TEMA, sailing at a speed of 12.7 knots and expected to arrive there on Feb 24, 12:00. The vessel THESEUS (IMO: 9304825, MMSI 341750000) is a Crude Oil Tanker built in 2006 (17 years old) and currently sailing under the flag of St Kitts & Nevis– an island country and microstate located in the West Indies.

But the development has raised concern on the claim that Deputy Energy Minister, Agyapa Mercer, had recently announced that the Tema Oil Refinery (TOR) was going to start refining crude oil, hence the fuel is being linked to the government as what the minister talked about.

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details
Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

However, industry players who have sought to link the owners of the 600,000 tonnes of Russian fuel consignment to Platon which has been linked to both the Chinese, as well as some Eastern European countries, are of the view that even if TOR does not own it, it will eventually be refining and selling it in Ghana since it has the capacity to do.

There are, however, questions being thrown around as to why Ghana will be taking delivery of Russian fuel although President Nana Akufo-Addo, has openly spoken against Russia’s military operations in Ukraine with Ghana voting twice at the United Nations (UN) in disapproval of the Russian.

ReadAbout

No Content Available

The second question is what will be the reaction of Western countries to Ghana’s over 600,000 tonnes of fuel from Russia, especially so when the country is begging the International Monetary Fund (IMF) for a US$3 billion bailout. Many believe there could be sanctions if it’s established that Ghana had received the fuel, which is yet to be pumped out of the Theseus.

Massive chaos over Russian 60000 barrels of crude shipped to Ghana | Details
Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

Following Russia’s invasion of Ukraine, the European Union and the US barred fuel imports from the former Soviet leader.

Bloomberg reports that its tanker tracking data show that “The last signal from the vessel was on Sunday evening, by which time unloading had not begun. Its cargo was due to be pumped into storage tanks in Tema”.

This comes on the back of the Ghana Government’s controversial gold-for-oil policy.

Bloomberg had reported that “a cargo of Russian oil is heading for storage tanks in Ghana, a nation that exports crude itself and is on the doorstep of two regional supply powerhouses.

The development suggests that traders could be scouring the market for new buyers of Russian barrels after the European Union stopped almost all seaborne imports from the country in December.

The bloc’s measures made Moscow hugely reliant on Chinese and Indian purchases.

The tanker Theseus arrived in Ghana’s territorial waters on Friday carrying about 600,000 barrels of Russian oil from a port in the Black Sea, according to tanker tracking data compiled by Bloomberg.

Its cargo was due to be pumped into storage tanks in Tema, people with knowledge of the matter said.

The last signal from the vessel was on Sunday evening, by which time unloading had not begun.

Russia is under pressure to sustain its oil revenue after the Group of Seven and the European Union imposed punishing sanctions on the country’s energy industry.

Almost all European Union companies are prohibited from buying Russian crude and petroleum products or providing important services such as insurance to nations that buy such exports above a capped price.

In December, Russia’s petroleum revenues dropped nearly 20 percent from the previous month after the price cap triggered big discounts on the nation’s crude, according to the International Energy Agency.

The crude will be stored in tanks at the Tema Oil Refinery, the people said. The firm didn’t respond to requests for comment.

When the tanker was en route to the country, the CEO of Ghana’s National Petroleum Authority CEO said the shipment would be blocked if it was bound for the country. The NPA didn’t respond to multiple requests for comment after it reached the West African nation’s territorial waters.

The shipment to Tema would be the first time Russian oil has been delivered to a West African country since at least October 2018, tracking data show.

Ghana itself is a small oil exporter, shipping an average of about 140,000 barrels a day over the past six months, according to tanker tracking data compiled by Bloomberg. It’s also next to Nigeria and Angola, the two biggest suppliers in sub-Saharan Africa.

Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details
Massive chaos over Russian 600000 barrels of crude shipped to Ghana | Details

After sanctions were imposed on Russia, the nation directed crude exports toward China and India, upending global oil flows and the maritime industry.

With Europe previously having been by far the largest market for Russian oil, that narrowed the nation’s pool of buyers dramatically. It also meant the barrels had to be discounted at the point of export to compensate for relatively high delivery costs.

 

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policies of Homebase Television.

  • President Commissions 36.5 Million Dollars Hospital In The Tain District
  • You Will Not Go Free For Killing An Hard Working MP – Akufo-Addo To MP’s Killer
  • I Will Lead You To Victory – Ato Forson Assures NDC Supporters

Visit Our Social Media for More

About Author

c16271dd987343c7ec4ccd40968758b74d64e6d6c084807e9eb8de11a77c1a1d?s=150&d=mm&r=g

hbtvghana

See author's posts

Discover interesting ones too

SME GO Project

NEIP commences ambitious SME GO Project to Support Micro-Businesses

3
NEIP Launches Skills For Jobs Project to Reduce Youth Unemployment

NEIP Launches Skills For Jobs Project to Reduce Youth Unemployment

9

NEIP Hosts 5th Edition of Presidential Pitch, Awards Top Young Entrepreneur

NEIP Empowers Young Kayayei With Working Equipment

NEIP Launches Presidential Pitch Session 5

Government To Commence Work On US$450m Manganese Refinery At Nsuta 

GIPC Launches 21st Ghana Club 100 Awards at CEOs Breakfast Meeting

General Construction, Manufacturing and Quarries Workers Union Holds 2nd Quadrennial Delegates Conference

BADEA’s “Arab–Africa Financial Consortium” to Propel Continent’s Rapid Development

Farmers’ Laments!!! Surplus Tubers With No Buyers

  • Ghana and Japan agree to pursue UN Security Council reforms

    Ghana and Japan agree to pursue UN Security Council reforms

    0 shares
    Share 0 Tweet 0
  • Beneath the Surface of the National Service Scheme (NSS)

    0 shares
    Share 0 Tweet 0
  • The Boob Movement founder, Abby Zeus poses completely nude in bed (18+photo)

    0 shares
    Share 0 Tweet 0
  • Tiwonisam Dogs World Hosts 2nd Edition of Nala Memorial Lecture in Accra

    0 shares
    Share 0 Tweet 0
  • Steve Harvey’s Jaw-Dropping Revelation: Abandon Preconceptions and Embark on an African Adventure!

    65073 shares
    Share 0 Tweet 0
ADVERTISEMENT
ADVERTISEMENT

Follow Homebase Tv

  • About Homebase Tv | Hbtvghana.com
  • Advertise
  • Broadcast Live
  • Disclaimer
  • Privacy & Policy
  • Terms and Conditions
  • Vacancies
  • Contact Us – Connect With Us

© 2014 Total Enjoyment & Proper News

No Result
View All Result

© 2014 Total Enjoyment & Proper News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.