French President Emmanuel Macron has secured additional diesel supplies from the United Arab Emirates and Bahrain, aiming to ease pressure on France’s fuel market. The French presidency announced the commitments on Tuesday during his Gulf tour.
The agreements will provide France with an extra 200,000 tonnes of diesel each month. However, questions remain about whether the increased supplies will significantly reduce prices amid continuing regional conflict.
UAE and Bahrain Commit 200,000 Tonnes of Diesel Monthly
According to the French presidency, the United Arab Emirates has committed to supplying approximately 100,000 tonnes of diesel monthly. Bahrain will provide another 100,000 tonnes per month.
Furthermore, deliveries from Saudi Arabia bring France’s total secured diesel commitments to 295,000 tonnes monthly. The presidency said this volume represents just over 10 per cent of France’s diesel consumption.
Macron is visiting major Gulf energy suppliers to secure additional oil and diesel supplies. He also hopes to reduce fuel prices following a weekend of violent protests over rising living costs.
The French president arrived in Manama on Tuesday, where crowds of schoolchildren welcomed him with Bahraini and French flags. His regional tour also included visits to the UAE, Kuwait and Qatar.
These Gulf countries have faced turmoil since the US-Iran war began in February, disrupting energy markets and increasing concerns about supplies.
Strait of Hormuz Disruption Pushes Up Fuel Costs
Crude oil prices have surged during the eight-month conflict, as Iran blocks the Strait of Hormuz. The strategic waterway serves as a major route for Gulf energy exports, making disruptions particularly damaging for international oil supplies.
Diesel prices have experienced some of the sharpest increases, adding pressure on consumers and businesses in France. Consequently, the government has pursued additional supply agreements while exploring measures to ease costs.
In early October, the Group of Seven countries agreed to draw up to 100 million barrels of oil from their strategic reserves. France holds the G7 presidency this year, and the measure aims to ease pressure on energy markets.
Kuwait Promises Fuel Supplies for French Territories
Kuwait has also given “very clear commitments” to supply diesel and kerosene to Mayotte and Reunion, French overseas territories in the Indian Ocean.
The French presidency said the shipments would travel through Oman, avoiding the Strait of Hormuz. However, experts have questioned whether these deliveries will significantly influence prices, particularly if fighting resumes across the region.
Meanwhile, French officials are discussing lower maritime insurance costs with regional countries. According to the Elysee Palace, cheaper insurance could help shipping companies transport larger quantities of fuel through the strait at reduced costs.
Macron Says France Will Not Run Out of Diesel
Presidential advisers expressed satisfaction with the quantity of diesel secured during the Gulf tour. Patrick Pouyanne, head of French energy company TotalEnergies, also accompanied Macron and welcomed the agreements.
Pouyanne 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 strategic reserves. The measure aims to reduce prices by 12 to 18 cents from next month, equivalent to approximately five to eight per cent.
Nevertheless, the impact on consumers will depend on how effectively France secures deliveries and manages transport costs. Continued instability around the Strait of Hormuz could also complicate supply routes and limit the benefits of the new agreements.
