Canada slaps sanctions on Gazprom, other Russia energy firms Canada is imposing economic sanctions against Russian energy firms such as natural gas producer Gazprom OAO in response to the actions of Russian-backed militants in Ukraine, Ottawa said on Monday. A government statement did not give details of the sanctions. Other firms targeted are Gazprom Neft OAO, Surgutneftegaz OAO and Transnefteprodukt OAO. (Reporting by David Ljunggren; Editing by Richard Chang)
Norwegian authorities have given the Stavanger-based energy giant Statoil the go-ahead on joint projects with Rosneft, a Russian oil titan that was the target of Western sanctions in 2014. Statoil and Rosneft previously agreed on four projects to explore and produce oil on the Russian continental shelf in the Barents Sea and in the Sea of Okhotsk close to the Arctic Circle. Additionally, there are two joint cooperation projects onshore.
Ninety North Korean vessels were granted certificates to enter Japanese ports in the eight months since a new law that bans entry of any ship without insurance took effect, according to a Daily Yomiuri report. The law on liability for oil pollution damage, which came into force on March 1, requires vessels of 100 tons or larger to be insured before docking in Japan. It had been viewed as a de facto economic sanction
Ukraine's Danube Shipping Company lost $110 million due to military action in Yugoslavia last year that destroyed bridges and blocked traffic along the Danube, transport minister Leonid Kostyuchenko said. NATO launched air strikes last year on Yugoslavia, which it accused of ethnic cleansing in the province of Kosovo, densely populated by ethnic Albanians. Kostyuchenko said collapsed bridges had blocked 63 Ukrainian ships on upper stretches of the Danube
Russia will take counter measures if Washington imposes new sanctions on Moscow over the Ukraine crisis, Russia's Deputy Foreign Minister Sergei Ryabkov said on Saturday. The U.S. Congress has readied new sanctions on Russian weapons companies and investors in the country's high-tech oil projects, but U.S. President Barack Obama has yet to sign a corresponding bill into law. "We will not be able to leave that without an answer
The Russian government plans to spend between $400 to $500 million to expand and deepen the harbor of the Novorossiysk seaport to handle larger vessels, reports Moscow News. Construction, in order to make it more competitive with Ukrainian ports also on the Black Sea, is set to begin in the first quarter of next year with completion scheduled for 2020. Russian government expects that the project will boost container volume at Novorossiysk by 10 to 15 percent
Rebels pressed ahead with a referendum on self-rule in east Ukraine on Sunday and fighting flared anew in a conflict that has raised fears of civil war and pitched Russia and the West into their worst crisis since the Cold War. Clashes broke out around a television tower on the outskirts of the rebel stronghold of Slaviansk shortly before voters made their way to polling stations through streets blocked by barricades of felled trees
Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list over Moscow's role in the Ukraine crisis, limiting its ability to raise funds in Western markets.
The Islamic Republic of Iran Shipping Lines and the country’s leading ports operator, the Tidewater Middle East Maritime Company, have been removed from the US list of companies designated for sanctions and assets freeze, reports Press TV. International shipping lines are already stepping up port calls to Iran as the country’s massive maritime trade sector is emerging from the sanctions.
Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares. Regarding new sanctions on Russia, Statoil's CEO told Reuters it was too early to say whether he would attend a high-profile St Petersburg economic forum in June as planned, as the firm had to assess the impact of the measures first.
March 2016 would mark start of low-demand spring season. Oil traders are preparing for another downward turn in prices by March 2016, market data suggests, as what is expected to be an unusually warm winter dents demand just as Iran's resurgent crude exports hit global markets after sanctions
Iran's oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements over sea worthiness by potential foreign clients, despite easing of sanctions, reports Reuters.
Minister of Petroleum, Bijan Zangeneh said that Iran and Belgium are in talks for possible floating production of liquefied natural gas (LNG) FLNG Unit off the Kharg Island in the Persian Gulf. The issue was brought up during Zangeneh’s talks with Belgian Secretary of
Oil is unlikely to return to $80 a barrel before the end of the decade, despite unprecedented declines in investment, as yearly demand growth struggles to top 1 million barrels per day, the International Energy Agency said on Tuesday.
Nearly 148,000 new jobs have been generated by cargo and vessel activity at Port of Houston terminals since 2011, Port of Houston Authority Chairman Janiece Longoria announced today during the Greater Houston Partnership’s annual State of the Port event.
A delegation from the port of Antwerp headed by port alderman and Port Authority chairman Marc Van Peel paid a visit to Iran last week. The delegation which was made up of petrochemical and shipping experts met in Tehran with various ministries
Iran is projected to officially join the LNG Exporters Club in the next two years, managing Director of National Iranian Oil Company Rokneddin Javadi was quoted as saying by Mehr News Agency. Establishing new LNG production units instead of constructing pipeline tops Iran's agenda
In a bid to prepare for the lift of economic sanctions placed on the country, Iran has unveiled a $120 billion fleet expansion campaign. Mohammad Saeidi, Head of the Islamic Republic of Iran Shipping Lines (IRISL), said that the company seeks to purchase 579
Iran will boost its crude oil production within one week once international sanctions are lifted and is determined to regain its lost market share, senior Iranian oil officials reiterated on Monday. Iran will raise production by 500,000 barrels per day in the first week after sanctions are
The Islamic Republic of Iran Shipping Lines (IRISL) plans to become one of the world's top ten shipping lines. It plans to modernize its fleet and ally with international shipping majors to tap western markets , reports WSJ. Mohammad Saeidi
On a sunny day on the Helsinki seafront, sparks fly from steel welding at the bustling Arctech shipyard, which seems insulated from Finland's economic recession as it strives to meet an order book that stretches into 2017. The world's biggest manufacturer of icebreakers
In its latest weekly report, London-based shipbroker Gibson noted on China that “certainly, Chinese manufacturers have lost their appetite for commodities which has impacted heavily on demand for coal, iron ore and copper with an obvious impact on the dry cargo market.
Iran has received a proposal from Spain to use its terminals to export Liquefied natural gas (LNG) to Europe, reports Press TV The proposal was discussed during the meeting of Iran’s Oil Minister Bijan Zangeneh with the visiting Spanish Minister of Industry
The massive $27 billion Yamal LNG liquefied-natural-gas venture in the Arctic Circle, a centerpiece of President Vladimir Putin’s plan for Russia has been squeezed by U.S. restrictions on OAO Novatek, says a report in the WSJ.
North Korean vessels owned by Ocean Maritime Management (OMM) have been seen using Russian ports, says the NK News vessel tracker. OMM was sanctioned for its involvement in smuggling weapons through the Panama Canal in 2013.