Egypt Archives - Seemorerocks

Saudi Arabia’s strategic oil reserves are running out: imports large quantities of Russian oil with Egypt as an intermediate country

July 9, 2022 admin Comments 0 Comment

It’s back to Peak Oil! This story came out from the G-9 meeting at the end of last month, but I only picked it up today. This is highly, highly significant because it scuppers Joe Biden’s plans to increase production but it puts Peak Oil back on the table. The UAE and Saudi Arabia will not increase production because they CAN’T. I have known for some years that Saudi Arabia is past peak production and has for some years, something…

Over 300 Ships Now Stranded As Suez Canal Authority Chairman Says “Human Error” Contributed To Crash

March 27, 2021 admin Comments 0 Comment

Update (1653ET): Egypt Today Magazine reports Ever Given has moved “17 meters towards the north, and there are positive indications that the ship would be refloated soon because of the high tide today.” With rising sea levels tonight, Lieutenant-General Osama Rabie, Chairman of the Suez Canal Authority (SCA), said the containership might refloat. Egypt Today Magazine says the best time to refloat the stranded containership could be sometime tonight “due to the highest tidewater and the wind today is strong and…

Tanker Rates Rise As Global Shippers Scramble To Reroute Ships Around Africa

March 25, 2021 admin Comments 0 Comment

Zero Hedge, 24 March, 2021 Update (1315ET): Bloomberg has published more details on the push for global shippers to divert ships around Africa. Torm, a Danish owner of tankers, said its customers have asked about the cost of options to divert. BBG said the diversions are being considered as markets on everything from oil to feedstock to refined petrochemicals are being impacted by what’s now being widely referred to as the “Suez crisis.” Torm A/S, a Danish owner of tankers,…

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