France’s TotalEnergies and Abu Dhabi state energy giant Adnoc agreed on 19 July to explore the “supply of diesel from the UAE to France.” No further details were announced at the time (MEES, 22 July), but during the firm’s 28 July Q2 earnings call, CEO Patrick Pouyanné provided some clarity. “The French government signed last week an agreement with Abu Dhabi in order to source 300,000 tons of diesel. And by the way, TotalEnergies’ trading arm will be the intermediary between Abu Dhabi and the French state to ensure this the supply of diesel.”
300,000 tons of diesel equates to around 2.25mn barrels of the fuel. It’s still not clear what timeframe the agreement covers, but over the course of a full year this equates to around 6,200 b/d. France imported 15,000 b/d from the UAE in 2021, so this would boost supplies by more than a third. (CONTINUED - 190 WORDS)