Abu Dhabi crude to head to Europe, replace Russian oil: sources

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Updated 25 April 2022
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Abu Dhabi crude to head to Europe, replace Russian oil: sources

  • Abu Dhabi's Das crude was last loaded for Italy in May 2020, Refinitiv Eikon data showed

SINGAPORE, April 25 (Reuters) - A shipping unit of France's TotalEnergies (TTEF.PA) has provisionally chartered a tanker to load Abu Dhabi crude in early May for Europe, the first such shipment in two years, according to traders and a shipping report on Monday.

CSSSA, 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 Britain on May 1-3 at a worldscale rate of 60 points, the shipping report showed.

Abu Dhabi's Das crude was last loaded for Italy in May 2020, Refinitiv Eikon data showed.

The arbitrage window for Middle East crude to head to Europe opened after European buyers shunned Russian oil following Russia's invasion of Ukraine, what it calls "a special operation". read more

More cargoes of Abu Dhabi crude grades - Murban, Das and Upper Zakum - are expected to head to Europe in the months to come to replace the Russian shortfall as the European Union prepares more sanctions on Russian oil imports, traders said, possibly diverting some supplies away from Asia.

The global trade flow is "readjusting" to reflect changes in Russian oil supplies, one trader said.

Russia is Europe's biggest oil supplier, providing 26% of EU imported oil in 2020.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.