First barrels of Senegalese oil on their way to Europe

The first shipments of Senegalese crude oil from the Sangomar project are on their way to refineries in the Netherlands and Germany, marking a new era for the Senegalese economy.

Share:

Pétrole sénégalais vers Europe

Senegal officially enters the circle of oil-exporting countries with its first cargoes destined for European refineries. The Sangomar project, led by Woodside Energy, has made it possible to extract this oil, which is now on its way to Rotterdam and Trieste. These exports represent a historic milestone for the country’s economy, marking the start of oil production.

The start of exports

On July 1, the Greek tanker Maran Poseidon docked at the Sangomar oil project to load Senegal’s first cargo of medium-acid crude. According to data from S&P Global Commodities at Sea, the vessel is due to leave Senegal before July 20, bound for the Dutch hub of Rotterdam. A second shipment is also planned, with a destination in Trieste, Italy.
Shell International Trading, listed as charterer of the Maran Poseidon, is the leading buyer of this Senegalese crude. This first shipment is due to be refined at Shell’s Pernis refinery in Rotterdam, one of the largest in Europe with a capacity of 404,000 barrels per day.

Economic and strategic impact

The arrival of Senegalese oil in Europe comes at a time when the OPEC+ alliance of producers is attempting to stabilize oil prices through production cuts. With an initial capacity of 100,000 barrels per day, Sangomar oil offers a new non-OPEC+ source for the European market.
Senegal hopes that this new sector will help stem the exodus of young people seeking economic opportunities in Europe. According to Thierno Ly, Director of the national oil company Petrosen, Sangomar’s first oil marks a new era for the country’s economy and social development.

Future prospects

In addition to the Sangomar project, Senegal is also looking forward to the start-up of the Greater Tortue Ahmeyim LNG project, developed by BP and Kosmos Energy. Located on the border with Mauritania, this project could further strengthen Senegal’s position on the global energy scene.
The rise of oil and gas production in Senegal could radically transform its economy, offering new opportunities for growth and innovation. However, these resources need to be managed carefully to avoid the pitfalls of the resource curse.
Senegal, with the support of its international partners, seems well placed to navigate this new era successfully, while maximizing the economic and social benefits for its population.

Petro-Victory Energy announces the completion of drilling operations for the AND-5 well in the Andorinha field, Brazil, with positive reservoir results and next steps for production.
The Colombian prosecutor’s office has seized two offices belonging to the oil company Perenco in Bogotá. The company is accused of financing the United Self-Defense Forces of Colombia (AUC) in exchange for security services between 1997 and 2005.
Indonesia has signed a memorandum of understanding with the United States to increase its energy imports. This deal, involving Pertamina, aims to diversify the country's energy supply sources.
VAALCO Energy continues to operate the Baobab field by renovating its floating platform, despite modest production. This strategy aims to maintain stable profitability at low cost.
An empty reservoir exploded at a Lukoil-Perm oil facility in Russia, causing no injuries according to initial assessments pointing to a chemical reaction with oxygen as the cause of the accident.
The British Lindsey refinery has resumed fuel deliveries after reaching a temporary agreement to continue operations, while the future of this strategic site remains under insolvency proceedings.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
The private OCP pipeline has resumed operations in Ecuador following an interruption caused by heavy rains, while the main SOTE pipeline remains shut down, continuing to impact oil exports from the South American country.
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
Saudi Aramco increases its oil prices for Asia beyond initial expectations, reflecting strategic adjustments related to OPEC+ production and regional geopolitical uncertainties, with potential implications for Asian markets.
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.
The Canadian government is now awaiting a concrete private-sector proposal to develop a new oil pipeline connecting Alberta to the Pacific coast, following recent legislation intended to expedite energy projects.
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Brazilian producer Azevedo & Travassos will issue new shares to buy Petro-Victory and its forty-nine concessions, consolidating its onshore presence while taking on net debt of about USD39.5mn.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
Lindsey refinery could halt operations within three weeks due to limited crude oil reserves, according to a recent analysis by energy consultancy Wood Mackenzie, highlighting an immediate slowdown in production.
The flow of crude between the Hamada field and the Zawiya refinery has resumed after emergency repairs, illustrating the mounting pressure on Libya’s ageing pipeline network that threatens the stability of domestic supply.
Libreville is intensifying the promotion of deep-water blocks, still seventy-two % unexplored, to offset the two hundred thousand barrels-per-day production drop recorded last year, according to GlobalData.
The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.
Petronas begins a three-well exploratory drilling campaign offshore Suriname, deploying a Noble rig after securing an environmental permit and closely collaborating with state-owned company Staatsolie.