Delays for oil tankers passing through the Turkish Straits have climbed to about 12 days for a round trip to the Black Sea, up from about seven days last week, as winter storms, heightened security risks and shorter daylight hours snarl traffic, traders said and Riverlake data in LSEG showed.
Turkey sharply reduced its imports of Russia's flagship Urals crude oil in November, shipping data from energy consultancy Kpler showed, as Western sanctions on Russian energy suppliers tightened and Turkish refineries shifted to alternative grades.Shipments of Urals to Turkey fell by 100,000 barrels per day from October levels, with total imports dropping to around 200,000 bpd last month
Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday.The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20 billion.
A Ukrainian drone strike on the southern Russian port city of Novorossiisk killed two people and wounded six on Wednesday, regional authorities said on Telegram.The city's top official declared a state of emergency at Novorossiisk, Russia's major sea port on the Black Sea where oil and grain export terminals are located
The 50-50 consortium between Allseas and Boskalis has been awarded a large contract by CPC Corporation Taiwan for the second offshore gas pipeline from Yongan to Tongxiao (YT2) in Taiwan.Under the contract, the consortium will design, construct, install and pre-commission the new YT2 36-inch offshore natural gas pipeline
Prices of Canadian and U.S. West Texas Intermediate crude oil to Asia jumped after shipping costs rallied on concerns that wider U.S. sanctions on the Russian fleet are tightening ship availability, trade sources said on Tuesday.Asian refiners face a margin squeeze as their costs of crude and shipping have spiked since Washington earlier this month imposed sweeping new sanctions targeting
Ukrainian naval drones hit two sanctioned tankers in the Black Sea as they headed to a Russian port to load up with oil destined for foreign markets, an official said on Saturday, as Kyiv tries to pile pressure on Russia's vast oil industry.The two oil tankers, identified as the Kairos and Virat, were empty and sailing to Novorossiysk, a major Russian Black Sea oil terminal
A pumping station on the Caspian Pipeline Consortium (CPC) pipeline in Russia damaged in February is back in service, operator CPC said on Friday.The route is Kazakhstan's main means of exporting crude and also carries Russian oil to the Black Sea for export by tanker.The Kropotkinskaya pumping station was damaged in what was described as a drone attack.
U.S. President Donald Trump's energy security council plans to host a summit in Alaska in early June, when it hopes Japan and South Korea will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday.Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state's North Slope fields via an 800-mile (1
Asian spot liquefied natural gas (LNG) prices remained at a near one-year low this week, as supply disruptions from three export facilities in the region and some buying interest capped losses fuelled by overall weak demand.The average LNG price for June delivery into north-east Asia LNG-AS was at $11.50 per million British thermal units (mmBtu), estimated industry sources, down from $11.
The Caspian Pipeline Consortium (CPC) said on Friday that a Russian court ruled that its Black Sea export terminal facilities should not be suspended, in a major victory for the Western-backed consortium.The decision looks set to avert a potential fall in Kazakhstan's oil production and supplies via the CPC, which accounts for around 80% of the country's oil exports.
The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's and Russia's oil from the Black Sea, announced on Monday that it had halted operations at two of its terminal's three mooring points (SPMs).CPC pipeline, which ships about 1% of world oil supply and is a key route for Kazakhstan's oil exports, may lose some 50% of the capacity if operating just one SPM