Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions.Independent refiners in China are the main buyers of seaborne oil shipments from countries sanctioned by the United States
An oil spill has occurred off Changi in Singapore during a bunkering operation between the Bahamas-flagged bulk carrier Ines Corrado and a licensed bunker tanker.The incident occurred at about 5.40pm on October 28, and bunkering operations ceased immediately. Singapore MPA craft arrived at about 5.50pm and sprayed dispersants.An estimated 5 tonnes of oil was reported to have overflowed.