German Diesel Deal Boosts Mideast Flows to Replace Russian Fuel
- Adnoc to supply Wilhelm Hoyer with up to 250,000 tons a month
- EU sanctions on fuel imports from Russia start early February
Oil tankers sit in Port Rashid in Dubai.
Photographer: Chris Ratcliffe/Bloomberg
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The United Arab Emirates is poised to help keep diesel flowing into Europe’s largest economy when Russian supplies are cut off early next year.
Wilhelm Hoyer GmbH & Co. KG will receive as much as 250,000 tons of diesel a month in 2023 from Abu Dhabi National Oil Co. That’s equivalent to about two-thirds of all the seaborne diesel-type fuel imports Germany received from Russia last year, according to Bloomberg calculations from Vortexa Ltd. data.