Oil Tanker Ordered by Total, Others Can’t Unload After Malagasy Decree

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Or sign-in if you have an account.(Bloomberg) — A group of companies including TotalEnergies SE warned that Madagascar’s requisition of the island’s only oil-storage facility could disrupt fuel supplies by preventing tankers from unloading.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe government last week decreed that it would need the Galana storage facility, owned by Rubis Energie SAS, in the port of Toamasina, to unload a tanker arriving Aug. 12 carrying diesel for use in power plants operated by state utility Jirama. The companies, represented by the Groupement Pétrolier de Madagascar had scheduled their own tanker, carrying diesel, gasoline and kerosene, to arrive at about the same time. The lack of storage will make it difficult for the Torm Eva to offload its cargo. The ship can carry a load of about 71,000 metric tons of oil products, data compiled by Bloomberg shows. Madagascar’s total annual consumption of oil products is about 1 million tons.The order makes “it impossible to unload the vessel chartered under the GPM’s supply program,” the group, who’s members also include Rubis and Vitol SA, said in a note on Tuesday to customers and seen by Bloomberg. The decision “could affect the balance of available stocks and, consequently, nationwide distribution,” it said.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe diesel shipment for Jirama, carried by the Liberian-flagged Sunda 1 tanker, follows a July 1 law creating a state-run oil company responsible for fuel imports. The move ended a 25-year arrangement under which GPM members, including a unit of local company Axian Group, handled imports.In letters to the government, seen by Bloomberg earlier, GPM expressed concern that authorities could import oil products from sanctioned suppliers and they would then be unable to handle them. Russia has held talks with Madagascar over building fuel storage facilities in the country. The GPM declined to comment when contacted by Bloomberg.The Sunda 1, identified as the ship carrying the diesel by the oil minister last week, has been traveling to Toamasina from China’s Qinglanshan Oil Terminal, data compiled by Bloomberg shows. Energy ministry spokesman Solo Rajaonson denied there was a dispute over oil storage, saying the arrangement had been discussed with GPM.“The GPM stresses that its members cannot be held responsible for any consequences affecting the availability, regularity, or distribution of petroleum products resulting from decisions that unilaterally alter a supply system that had already been planned and committed to,” the group said in the statement. The Torm Eva is a Danish-flagged tanker, that loaded in the Persian Gulf.Sign up here for the daily Next Africa newsletter and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.