French imports of US crude hit a record high in May. Imports of Russian crude continued, but appear to have dwindled since. Customs data show France imported 180,000 b/d of US crude in May, beating the previous high of 175,000 b/d in October 2019. Cargoes went to the ports of Fos-Lavera, Le Havre and Donges. Some of the shipments that arrived at Fos-Lavera in the second half of May may have waited to discharge until June, as extensive planned works at the port backed up tankers. US cargoes started arriving in France regularly in the second half of 2017 (see chart), and US grades increased market share of French imports during the Covid-19 pandemic, displacing rivals in part as the Opec+ group trimmed output. Demand for US WTI and Midland grades has also been supported in Europe by supply interruptions of similar lighter, sweeter crudes, including Kazakh CPC Blend and Libyan grades.
The US was the biggest supplier to France in May, ahead of Kazakhstan and Nigeria with 110,000 b/d each. Algeria supplied 80,000 b/d, Norway and Iraq 60,000 b/d each and Saudi Arabia, Libya and Russia all provided 45,000-50,000 b/d. This was France's lowest level of Russian imports for a year, comprising two cargoes of Baltic Urals delivered in the second half to the Atlantic terminal of Le Havre that serves TotalEnergies' 246,900 b/d Gonfreville and ExxonMobil's 236,000 b/d Port Jerome refineries. TotalEnergies — France's largest refiner — has said it will halt purchases of Russian crude and products by the end of the year. Since Argus tracking recorded the tankers of Urals at Le Havre in May, none appear to have delivered in June or in the first half of July. No tankers from the Baltic or Murmansk are signalling arrival. Overall French crude imports were 860,000 b/d in May, up from 760,000 b/d in April and higher by 53pc on the year, supported by TotalEnergies' restart of Gonfreville last summer. Cargoes have started arriving at the firm's 222,000 b/d Donges refinery, but not at a pace close to nameplate capacity. The plant was shut for all of last year on economic grounds and for works. French imports were 845,000 b/d in the January-May period, compared with 630,000 b/d a year earlier. The US was the biggest supplier with 145,000 b/d, Russia provided 115,000 b/d, Nigeria 110,000 b/d and Kazakhstan 100,000 b/d. Last year French imports averaged 715,000 b/d, up by 3pc from 2020, but still well short of 1mn b/d in 2019.