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Friday, December 16, 2022

ESPO Update -- December 16, 2022

ESPO: all of a sudden it's in the news. LOL. Again, I can't thank enough the reader who pointed me in this direction. All things ESPO at this post.

Again, the Kamala Harris explanation:

  • Russia has two main brands of oil: ESPO and Urals
  • ESPO: goes to Asia -- China, Japan, Korea
  • Urals: goes to Europe (not so much any more)
  • $60-cap applies to sea-going tankers
  • pronouns for Russian oil: it / they

Today

  • Russia's Urals averaged $57 / bbl, last month (Nov 15 - Dec 14, 2022)
  • Russia's ESPO: oil tanker owners show signs of shunning Russia's Asian crude
    • shipbrokers say it's proving hard to find tankers for ESPO oil
    • tanker tracking points to decline in exports from Kozmino
    • Kozmino? Map here.

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