Russia is preparing to deliver approximately 750,000 barrels (bbl) of Arctic heavy ARCO oil and gas condensate to Syria’s Banias port, reported Reuters, citing data from the London Stock Exchange Group and information from traders.
The crude oil tanker Antarktika, capable of transporting up to 800,000bbl of oil, is currently anchored near Banias port after loading at Russia’s Murmansk and Ust-Luga ports.
Traders indicated that the cargo contained ARCO oil from Gazprom Neft and condensate from Novatek. However, the buyers and sellers remain unidentified.
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Neither Gazprom Neft nor Novatek provided comment. Syria’s Oil Ministry also declined to comment, according to a statement from its Information Ministry.
This shipment highlights the ongoing energy relationship between Russia and Syria.
Officials from both countries recently discussed potential energy cooperation during a meeting in Moscow, said the publication.
ARCO oil, produced on the Prirazlomnaya offshore platform, requires blending with lighter grades for most refining processes, according to a trader.
Last month, a drone strike on Novatek’s Ust-Luga plant led to a shutdown of two condensate processing units, resulting in surplus condensate available for export.
The EU Council recently agreed on its negotiating position in a draft regulation aimed at phasing out natural gas imports from Russia.
This move aligns with the EU’s REPowerEU road map, which aims to strengthen its energy independence and security by reducing Russian energy imports.
The regulation outlines a timeline for the termination of both pipeline and liquefied natural gas imports from Russia, with a complete ban set for 1 January 2028.
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