After the oil price cap mechanism was launched on December 5, queues of tankers immediately appeared in Turkish waters as the authorities demand more document checks to make sure all the Russian vessels are certified.

Oil tanker jam forms in Turkey as Russian oil price cap disrupts markets

EurOil - Europe Oil & Gas
FSUOGM - Former Soviet Union Oil & Gas
By bne IntellliNews 6 December 2022
An oil tanker traffic jam has formed in Turkey following the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on December 5, with Turkish authorities demanding new proof of full insurance coverage.

DMEA: Kenyan insurer exits Ugandan oil pipeline consortium

AfrOil - Africa Oil & Gas
DMEA - Downstream Middle East & Africa
By Jennifer DeLay 6 December 2022
Nairobi-listed Britam Holdings has withdrawn from a consortium of East African insurers providing coverage for the EACOP pipeline, saying the project does not meet its backers’ standards.

AfrOil: ExxonMobil reportedly preparing to exit Equatorial Guinea

AfrOil - Africa Oil & Gas
By Jennifer DeLay 6 December 2022
ExxonMobil has reportedly started ramping down oil production at Block B, located offshore Equatorial Guinea, and aims to exit the country once its licence for the site expires in 2026.
The EU's embargo on Russian oil came into effect on December 5, and while it will have an impact, the headline goal of cutting Russia off from its petrodollar revenue will fail.

MOSCOW BLOG: Oil embargo day

FSUOGM - Former Soviet Union Oil & Gas
By Ben Aris in Berlin 5 December 2022
The EU’s oil embargo on importing Russian oil comes into effect today. The blanket ban on seaborne oil deliveries is softened by the oil price cap scheme, so that the EU can import oil from Russia provided it costs less than $60.
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