Protesters demanding jobs closed off the eastern Libyan port of Zueitina for a sixth day, extending a halt in oil exports, according to a senior oil industry source and to one of the demonstrators, as cited by Reuters. Roughly a dozen men last Tuesday evening forced their way into the port, just hours after Zueitina Oil Company workers had temporarily suspended a strike and resumed production at oilfields that pump to the terminal. Zueitina Oil Company pumps between 60,000 and 70,000 barrels but its terminal has the capacity to handle about 20 per cent of Libya’s crude oil exports. Protests and strikes at various facilities have repeatedly lowered Libya’s oil output, which had returned faster than expected to pre-war levels of around 1.6 million barrels per day, adds Reuters. Source: Reuters
Iraqi crude oil exports were flowing again at the Turkish port of Ceyhan, where the second vessel this year was finishing lifting and three new cargoes were expected to turn up soon, industry sources said. The sources said the Marina M, which recently replaced the earlier chartered Seadancer, has just about finished lifting one million barrels of Kirkuk crude and the two million barrel Amazon Falcon is already berthed and waiting
Lehman on Monday started coverage of oil tanker charterer Maritime with a strong buy rating and a 12-month price target of $25. "We expect charter hire rates to remain firm and recover through the remainder of the year as oil production volumes from Iraq and OPEC increase requiring transportation service," said a research note. Iraq, which in June cut oil exports to protest the U.N. administered oil-for-food program put into place after the invasion of Kuwait in 1990
There is no chance of the United Nations turning a blind eye to any oil companies that pay a surcharge that Iraq is continuing to demand for its oil exports, United Nations diplomats said. "No way are we going to be turning a blind eye to this," one diplomat said when asked if the United Nations could overlook such payments."Industry sources said that Iraq is insisting that customers for its crude under the United Nations oil-for-food program pay a 40 cents per barrel surcharge direct to an
A grounded Norwegian oil tanker carrying 450,000 barrels of crude oil was re-floated near the Venezuelan coast and left for the U.S. Tuesday night, authorities said. The SKS Tagus, bound for the U.S. port of Delaware, reportedly ran aground on in the Maracaibo shipping channel in western Venezuela after a problem with the steering, Reuters reported. "She was successfully re-floated and left last night," a shipping source said
The Russian Register of Shipping's seminar on Maritime Safety and Security in St. Petersburg this week attracted an array of international speakers, including INTERTANKO MD Peter Swift. The seminar was opened by the Russian Minister of Transport, Sergei Frank, who was joined by IMO Secretary General elect, Thimio Mitropoulos; USCG Assistant Commandant, Tom Gilmour; IMO MEPC Chairman, Andreas Chrysostomou; EC Director of Maritime Transport, Fotis
A Nigerian oil worker was killed and another injured on Tuesday in an armed attack on a supply ship operated by a U Edison Chouest Offshore, Reuters reported. "Armed men came alongside the vessel at 0300 hours (O200 GMT) and got on board to look for things to take. They executed one of the crew when they didn't find anything," an unnamed source told the news agency. The supply ship was operated by Edison Chouest Offshore, a Louisiana-based oil services company, a security source said
By Mass Communication Specialist Seaman Josh Cassatt, Commander, U.S. Naval Forces Central Command/Commander, U.S. 5th Fleet Public Affairs Vice Adm. Kevin Cosgriff, commander, U.S. Naval Forces Central Command/U.S. 5th Fleet and Royal Australian Navy Commodore Allan du Toit, commander, Combined Task Force (CTF) 158, visited Iraq's Khawr Al Amaya Oil Terminal (KAAOT) Nov. 16, for a ribbon-cutting ceremony celebrating the implementation of facility upgrades.
Norwegian union members went back to work Tuesday, ending a six-day strike that hit everything from oil exports to hotels in the nation's most serious labor dispute since the 1980s. The strike ended after employers raised a 2000 pay offer to 4.6 percent from 3.5-4, averting a threatened escalation of the stoppages to 102,000 workers from 86,000. An expansion would have made it the biggest labor conflict in 70 years.
World seaborne trade rebounded in 2002 to 5.89 billion tons, exceeding the previous record set in 2000, reports UNCTAD´s Review of Maritime Transport 2003, released recently. The recovery in seaborne trade reflects the improved growth in world output and is expected to continue this year, amidst concern about the increased costs involved in implementing tougher security measures. The measures, which are being taken by the United States and by the International Maritime Organization (IMO)
Smit Lamnalco has contracted Damen to build a new, shallow draught ASD Tug2810, the design of which illustrates the cooperative relationship between the two companies. The tug is set to expand Smit Lamnalco’s oil and gas terminal support services in Novorossiysk
Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran
Iran has called off a deployment of warships to the Atlantic Ocean, the semi-official Fars news agency said on Sunday, shelving plans for its vessels to approach U.S. maritime borders in response to the U.S. navy's presence in the Gulf. A senior Iranian naval commander was quoted in February as
Ethiopia's leading private oil marketer plans to expand into neighboring east African economies and is interested in part financing a refinery after commercial discoveries in the region. Tadesse Tilahun, CEO of National Oil Ethiopia
By Ulf Laessing, Reuters Former Libyan prime minister Ali Zeidan has fled to Europe after parliament voted him out of office on Tuesday over his failure to stop rebels exporting oil independently in a brazen challenge to the nation's fragile unity.
Robert Allan Ltd. says it has been selected by Teekay Shipping (Canada) Ltd. to provide the contract engineering package for the conversion of the M/V Navion Clipper from a shuttle tanker into a Floating Storage and Offloading (FSO) unit. Scope of work
Robert Allan Ltd. announced that it was selected by Teekay Shipping (Canada) Ltd. to provide the contract engineering package for the conversion of the M/V Navion Clipper from a shuttle tanker into a Floating Storage and Offloading (FSO) unit.
Sterling Global Operations (SGO) has been chosen to provide surface - supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton Very Large Crude Carrier (VLCC) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan
Congressman Michael McCaul introduced H.R. 4349, the Crude Oil Export Act, which lifts the 1970s era prohibition on the export of American crude oil and would remove the major remaining barrier that keeps the U.S. from being competitive with other oil exporting nations.
Crude oil prices on both sides of the Atlantic rose on Friday as data showed strong jobs growth in the United States and investors cast doubt on reports Libya's oil ports were about to reopen. The March U.S. non-farm payrolls report showed 192
Kazakh CPC Blend crude strengthened on Tuesday as the outlook soured for the resumption of rival Libyan oil exports and a loading programme showed lower Azeri loadings in May. In the Platts window, oil major Total bid for CPC at dated Brent minus 50 cents
Global oil prices surged on Tuesday as a weaker U.S. dollar boosted buying, while expectations for bullish inventory reports in the U.S. and fresh unrest in eastern Ukraine lent support. As the U.S. dollar plunged to session lows against the Japanese yen and the euro, U.S
The U.S. Department of Commerce approved 52 crude oil re-export licenses in the last six months to destinations other than Canada, the department said on Tuesday. The permits, which were approved between October 2013 and March, include 14 licenses for re-exports to European countries
The United States should strengthen a century-old law designed to protect the domestic shipping industry, rather than relax it under pressure from the energy industry, the chair of the Senate Energy Committee said on Tuesday. The 1920 Jones Act restricts the delivery of goods between U.S
Russian Urals crude weakened in the Baltic on Wednesday due to a number of unsold cargoes while Kazakh CPC continued to strengthen due to a lack of sweet barrels. In the Platts window, Trafigura bought a cargo of Urals from Eni at dated Brent minus $1