Musings From Abroad

Russia begins diesel exports to Sudan as EU boycott bites

Published

1 month ago

April 11, 2024

London Stock Exchange Group (LSEG) data shows that Russia has started sending fuel to troubled North African country, Sudan.

The sales begin amid new demand for Russia’s refined goods following a trade boycott against it by the EU over the invasion of Ukraine in 2022.

Since February 2023 when the EU put a full ban on importing Russian oil products, diesel has been sent to Brazil, Turkey, and countries in Africa, Asia, and the Middle East. It has also been loaded from ship to ship.

Data from LSEG shows that two fuel ships, the Pavo Rock and the Conga, brought about 70,000 metric tons of ultra-low sulphur diesel to Sudan after loading it in February at Primorsk in the Baltic Sea. Shipping records show that the goods were unloaded at Port Sudan Al Khair Terminal on April 2 and April 5, respectively.

The Marabella Sun, a ship that was loaded in March at the Russian Baltic port of Vysotsk, is now on its way to Port Sudan and should be unloaded on April 17.

A source quoted by Reuters claims Sudan needs about 45,000 barrels per day (bpd), or 6,000 tons per day, of diesel to meet local demand. However, Sudan’s Petroleum Ministry did not answer a request for comment.

About 60,000 to 70,000 metric tons of diesel are brought into Sudan every month, mostly from Saudi Arabia and the United Arab Emirates. According to the LSEG, about 116,000 metric tons of diesel came into Sudan in March.

Related Topics:DIESEL Featured Russia Sudan

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Musings From Abroad

China’s Hailiang, Shinzoom to establish vehicle battery installations in Morocco

Published

8 hours ago

May 16, 2024

Ifeoluwa Dada

Hailiang and Shinzoom, Chinese car battery makers, will establish two separate operations in Morocco as the country strives to adapt its burgeoning automotive sector to rising demand for electric vehicles, Moroccan officials announced on Tuesday.

Tanger Tech, the Moroccan northern industrial zone’s development authority, said Hailiang intends to establish a $450 million copper facility on a 30-hectare plot of land. Shinzoom, a subsidiary of Hunan Zhongke, plans to invest $460 million in an anode plant spanning 20 hectares, according to a statement.

In April, the Moroccan government approved Chinese electric battery company BTR New Material Group (835185.BJE)’s plans to build a factory in Tangier to manufacture crucial component cathodes.

Another Chinese firm, CNGR Advanced Material (300919.SZ), plans to develop a cathode plant in Jorf Lasfar, 100 miles south of Casablanca, where the government has set aside 283 hectares for electric battery sectors.

Last year, the Moroccan government and China’s Gotion agreed to examine establishing an electric vehicle battery plant in the country, with a potential investment of up to $6.3 billion. Last month, Industry Minister Ryad Mezzour told Reuters that the Gotion project was moving forward, with conversations over its footprint and location.

Morocco’s strategic location on the Strait of Gibraltar, free trade agreements with important EU and US markets, and existing automotive sector cluster all attract Chinese enterprises.

In 2023, the automotive sector topped Morocco’s industrial exports with $14 billion, a 27% increase. Morocco is home to Stellantis (STLAM.MI) and Renault (RENA.PA) production factories with an annual combined capacity of 700,000 automobiles, as well as a network of local suppliers.

Musings From Abroad

Prince Harry, Meghan treated to street-style dances in Nigeria as their trip winds down

Published

3 days ago

May 13, 2024

Ifeoluwa Dada

On Sunday, Prince Harry and his wife Meghan were treated to street-style dances in Lagos, Nigeria’s commercial capital, where they announced a partnership between their Archewell Foundation and the non-profit Giants of Africa, which utilizes sports to empower young people.

The Duke and Duchess of Sussex are making their first visit to Nigeria, where they were welcomed by the country’s chief of defence staff. The couple watched basketball practice at Ilupeju Senior Grammar School on Lagos Mainland, where Harry participated in ball-bouncing drills and shot a hoop.

“What you guys are doing here at Giants of Africa is truly amazing,” he said. “The power of sport can change lives. It brings people together and creates community and there are no barriers, which is the most important thing.”

The couple watched basketball practice at Ilupeju Senior Grammar School on Lagos Mainland, and Harry stepped on the court for some ball-bouncing drills and to shoot a hoop.

Former Toronto Raptors star Masai Ujiri, president of Giants of Africa, wished Meghan a happy Mother’s Day and said his organization was uniting communities and uplifting young people through sport, especially. Archewell Foundation and Giants of Africa will construct a basketball court in Nigeria’s capital Abuja.

“Talk about full circle again – never did I think we would be able to be here all those years later supporting the expansion of this incredible organization,” she said.
Harry and Meghan were set to round off their Lagos trip by attending a reception for a local charity. The couple live in the United States with their two children after Harry gave up working as a member of the royal family in 2020.