MANAMA: French President Emmanuel Macron has secured the delivery of an additional 200,000 tonnes of diesel per month from the United Arab Emirates and Bahrain during a tour of the Gulf, the French presidency said on Tuesday.
He obtained commitments for around 100,000 tonnes per month from the Emirates, while an additional 100,000 tonnes monthly will be secured during the stop in Bahrain, the Elysee Palace said.
With the addition of deliveries from Saudi Arabia, France has commitments for 295,000 tonnes per month, representing just over 10 percent of its consumption, the presidency added.
Macron is undertaking a tour of key energy suppliers in the Gulf in an effort to secure oil and diesel and bring down prices in France, after a weekend of violent protests over soaring living costs.
The French president arrived in Manama on Tuesday and was greeted by crowds of schoolchildren waving Bahraini and French flags.
The trip also included stops in the UAE, Kuwait and Qatar, all of which have been thrown into turmoil by the US-Iran war since February.
'REASSURE THE FRENCH'
Crude oil prices have ballooned during the eight-month conflict, as Iran blockades the Strait of Hormuz – the main exit route for the Gulf's energy exports – with diesel prices among the hardest hit.
The G7 countries, chaired this year by France, agreed in early October to draw up to 100 million barrels of oil from their strategic reserves to ease pressure.
Kuwait has also given "very clear commitments" to deliver diesel and kerosene to the French overseas territories of Mayotte and Reunion in the Indian Ocean, the French presidency said.
The shipments will be sent via Oman, bypassing the Strait of Hormuz, it added.
Experts have questioned whether the shipments would have an impact on prices, given the risks of renewed fighting in the region.
Talks are underway with countries in the region to bring down maritime insurance prices so that companies can ship greater quantities through the strait at lower cost, the Elysee said.
Presidential advisers expressed satisfaction with the quantity of diesel secured, while Patrick Pouyanne, head of French oil giant TotalEnergies who is on the trip, said the deals would "reassure the French."
"We are not going to run out of diesel in February," he added.
France has also released 10 million barrels of diesel from its reserves, with the aim of cutting prices by 12 to 18 cents, or around five to eight per cent, from next month.
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