Stena Bulk, the owner of the Stena Immaculate oil tanker, said it is working closely with the manager of the vessel Crowley and U.K. agencies following the last week’s allision with incident the container ship Solong.Salvage experts from SMIT Salvage are continuing with their detailed onboard assessments of Stena Immaculate.
Russia may be forced to reduce its oil production in the coming months as U.S. sanctions restrict access to tankers needed for exports to Asia, while Ukrainian drone attacks continue to damage key refineries.Last month, the U.S. imposed sanctions targeting 180 Russian tankers, coinciding with an escalation in Ukrainian drone strikes aimed at strengthening Kyiv’s bargaining position.
The trade of Russian oil for March-loading in Asia has slowed significantly as a growing gap between buyer and seller expectations in China has emerged. This disconnect comes amid rising costs for chartering non-sanctioned tankers following new U.S. sanctions, according to traders and shipping data.
Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas
Shandong Port Group has banned U.S.-sanctioned tankers from calling into its ports in the eastern Chinese province, home to many independent refiners that are the biggest importers of oil from countries under U.S. embargo, three traders said.The province imported about 1.74 million barrels per day (bpd) of oil from Iran, Russia and Venezuela last year, accounting for about 17% of China's imports
Yemen's Iran-backed Houthi rebels attacked two crude oil tankers - the Saudi-flagged Amjad and the Panama-flagged Blue Lagoon I - in the Red Sea on Monday, the U.S. military said, calling the assaults "reckless acts of terrorism".The Houthis late on Monday claimed responsibility for targeting the Blue Lagoon with multiple missiles and drones but did not make any mention of the Saudi tanker.The U.
A tanker that fled the scene of a fiery Friday collision off Singapore entered the area of Malaysia's Bertam floating oil terminal on Monday after being tracked down and intercepted by Malaysian authorities, shipping data from LSEG and Kpler showed.The Sao Tome and Principe-flagged supertanker Ceres I had left the scene of the collision with the Singapore-flagged tanker Hafnia Nile about 55 km
Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022
OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets.
The specialized vessel Sapura Ônix is on its way to Atlanta Field in Santos Basin, offshore Brazil, where it will carry out the installation of subsea equipment to support the oil production, targeted for August 2024.Brazilian oil and gas company Enauta said the Sapura Ônix vessel is en route to install multiphase pumps (MPPs), umbilicals for power and data transmission, and production risers
Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate the mandates of the United Nations Security Council, a U.S. official said on Thursday, adding the U.S. is planning new sanctions in response.The disclosure came on the first day after a U.N. panel of experts monitoring enforcement of longstanding U.N.
Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.