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
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
Freight rates to ship Russian oil have fallen this month towards parity with those for other global exporters for the first time since 2022 as more tankers were available despite Western sanctions and exports fell, three sources said on Wednesday.Freight rates to ship Russian oil soared to more than $20 million per voyage in 2022 after the West imposed sanctions and a $60 dollar price cap to try
A Russian court overturned on Monday a decision by a regulator to suspend the operation of an oil berth at the Black Sea port of Novorossiisk controlled by Transneft, an industry source told Reuters.Transneft said last week it had suspended mooring number 8 at Novorossiisk for 90 days after a snap inspection by a transport watchdog.
Chicago Propeller Club celebrated being named International Propeller Club of the Year at its latest event.Guests from across the Great Lakes and Mid West maritime industry gathered for the reception, a Chicago River cruise aboard club sponsor Wendella Cruises vessel the Iris.Club President Chris Carr, managing partner of SBSB Eastham law firm