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Fuel Shipments from Gonfreville Resumed Early on Friday

REFINING

Fuel shipments from TotalEnergies Gonfreville refinery in Normandy resumed early on Friday after police intervened to disperse refinery workers holding a blockage so that requisitioned staff could go to work according to Energy Minister Agnes Pannier-Runacher.

  • Latest headlines show that 31% of workers have joined the France refinery strikes today totalling about 92 out of 293 people, compared to 37% on Thursday and 38% on Wednesday.
  • Strikes have reduced refinery operations and disrupted fuel deliveries at sites in France. The Normandy Gonfreville refinery, Feyzin site and Donges refinery have all seen disruption this week.
  • The Energy Minister said 15% of French petrol stations were experiencing disruptions and that 10 fuel depots out of 200 were still blocked.
  • Near term Gasoil time spreads remain elevated due to the supply risks at nearly 30$/mt compared to around 15$/mt at the start of March.
    • Brent MAY 23 down -3.3% at 73.4$/bbl
    • Gasoil APR 23 down -2.3% at 763.25$/mt
    • Gasoil APR 23-MAY 23 up 1$/mt at 29$/mt
    • Gasoil JUN 23-DEC 23 unchanged at 22.25$/mt
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