{"id":553602,"date":"2021-12-09T03:42:11","date_gmt":"2021-12-09T03:42:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/"},"modified":"2021-12-09T03:42:11","modified_gmt":"2021-12-09T03:42:11","slug":"sumeds-oil-shipments-at-their-highest-in-november-since-may-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/","title":{"rendered":"Sumed\u2019s oil shipments at their highest in November since May 2020"},"content":{"rendered":"

<\/a> Oil shipments through Egypt\u2019s Sumed pipeline hit an 18-month high in November<\/strong>, with north of 700k bbl\/d of crude flowing out of the pipeline last month, data compiled by Bloomberg<\/a> shows. Although this is the highest level since May 2020, it remains 150k bbl\/d below pre-pandemic levels. This uptick comes 18 months after shipment activity had fallen due to covid-19 slashing demand<\/a> and leading countries to cut production levels by 10%.<\/p>\n

Poland and the Netherlands were Sumed\u2019s biggest export markets in November<\/strong>, rather than the usual Mediterranean destinations of Italy, Spain, Greece and Turkey. Poland emerged as the largest buyer. This shift comes amid increasing tensions between Poland and its neighboring countries Russia and Belarus, which had been Warsaw\u2019s biggest suppliers, prompting Poland to look towards alternative sources.<\/p>\n

Stockpiles at the pipeline\u2019s Sidi Kerir storage tanks have been growing over the past several months as OPEC+ ramped up its output targets<\/strong>, leading to crude oil deliveries to the pipeline outpacing offtake. The majority of the crude shipments to the pipeline were sourced from Saudi Arabia, according to the business information service.<\/p>\n

Why Sumed is an attractive option for oil shipments: <\/strong>The Sumed pipeline allows giant shippers to carry crude from a terminal in Ain Sokhna to storage tanks near Alexandria on the Mediterranean without having to pass through the Suez Canal. Offloading some of their cargo into one end of the pipeline in Ain Sokhna allows the carriers to cross the Suez Canal (without sitting too deep in the water) and then refill in Sidi Kerir. They can also fully offload their cargo to westbound tankers stationed on the other side and move to their next consignment.<\/p>\n

This bodes well for our energy hub ambitions: <\/strong>The uptake in Sumed shipments, along with our LNG exports maxing out<\/a> following a summer lull and recent agreements to build subsea pipelines with Greece<\/a> and Cyprus<\/a>, can help Egypt consolidate its position as a regional energy hub and a key source of energy for Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil shipments through Egypt\u2019s Sumed pipeline hit an 18-month high in November, with north of 700k bbl\/d of crude flowing out of the pipeline last month, data compiled by Bloomberg shows. Although this is the highest level since May 2020, it remains 150k bbl\/d below pre-pandemic levels. This uptick comes 18 months after shipment activity […]<\/p>\n","protected":false},"author":1,"featured_media":553603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,91,1243,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-and-gas","tag-poland","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"01d1cbde-00f5-4ff4-bc48-6fa255933f7b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/273.png","photo_position":"above","related_issue":[553593],"teaser":"","voice_url":""},"yoast_head":"\nSumed\u2019s oil shipments at their highest in November since May 2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sumed\u2019s oil shipments at their highest in November since May 2020\" \/>\n<meta property=\"og:description\" content=\"Oil shipments through Egypt\u2019s Sumed pipeline hit an 18-month high in November, with north of 700k bbl\/d of crude flowing out of the pipeline last month, data compiled by Bloomberg shows. 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Some 300k tons of wheat booked for February and March delivery for Egypt are currently stranded in Ukrainian ports due to Russia\u2019s blockade of\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/275.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634712,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/22\/egypt-renews-iraqi-crude-oil-contract-for-one-year\/","url_meta":{"origin":553602,"position":3},"title":"Egypt renews Iraqi crude oil contract for one year","author":"enterpriseam admin","date":"22 January 2018","format":false,"excerpt":"Egypt has reportedly renewed an agreement to import crude oil from Iraq, an official at state petroleum buyer EGPC tells Reuters\u2019 Arabic service. The contract was renewed for another year and will see Egypt import 12 mn bbl of Iraqi crude that will be delivered in 2 mn bbl shipments\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599689,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/08\/govt-to-implement-fuel-pricing-mechanism-on-95-octane-gasoline-in-2q2019\/","url_meta":{"origin":553602,"position":4},"title":"Gov\u2019t to implement fuel pricing mechanism on 95 octane gasoline in 2Q2019","author":"enterpriseam admin","date":"8 January 2019","format":false,"excerpt":"95 octane fuel could move up or down 10% thanks to new price mechanism: The price of 95 octane gas may fluctuate up or down by 10% when the a new pricing mechanism that pegs it to the global market comes into effect in April, according to a government decree\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629876,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/egypt-to-receive-second-shipment-of-iraqi-crude-oil-in-two-weeks\/","url_meta":{"origin":553602,"position":5},"title":"Egypt to receive second shipment of Iraqi crude oil in two weeks","author":"enterpriseam admin","date":"3 April 2018","format":false,"excerpt":"Egypt is set to receive 2 mn bbl of Iraqi crude oil in two weeks, a source from the EGPC said. 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