"The final effect on Italy" of the Red Sea crisis "has always remained limited", since "imported crude oils in these first months of 2024 were promptly replaced with those coming from other areas" and "imports of refined products overall count for less of 18% of the products available on the national market, while the rest is satisfied by the national refineries".
The Minister of the Environment and Energy Security, Gilberto Pichetto, said this at a hearing before the Chamber's Environment Committee.
"In the latest crisis relating to the Suez Canal area, the Italian refining system reacted promptly - explained Pichetto -. In 2023, the imported crude oils transiting the area of the Persian Gulf, Red Sea and Suez Canal were approximately 17 % of total imported crude oils (10.3 million tonnes out of 61.2). These quantities in these first months of 2024 were promptly replaced with those coming from other areas, considering that the lengthening of the routes has made these supplies no longer competitive".
"More significant is the impact on imported finished products - added the minister -. In fact, following the embargo with Russia, alternative purchases have moved to the Middle and Far East (India, Abu Dhabi, Arabia and the United Arab Emirates), from which in 2023 approximately 60% of imported diesel arrived (2.9 million tons out of 4.8) and significant shares of other products: 50% of jet fuel (especially from the Arabian Peninsula); 40% of semi-finished products (from Iraq in particular), as well as 50% of the raw materials for the production of biofuels (from Indonesia and Malaysia)".
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