Oil Giant News

Russian tanker Krymsk, hit by sanctions, docked on Wednesday at the Chinese port of Dongying in eastern Shandong province, home of independent refiners, to discharge 700,000 barrels of Russian Sokol crude, LSEG and Kpler shipping data showed.This is the second Russian oil tanker, hit by sanctions, to dock at Chinese ports this month. Last week, tanker Liteyny Prospect discharged its 700,000-barrel Sokol crude cargo at the Chinese port of Huanghua near Cangzhou city in Hebei province.The Dongying port authority declined comment when contacted by Reuters.

The Russian tanker Liteyny Prospect, hit by sanctions, has docked at the Chinese port of Huanghua to discharge its 700,000-barrel Russian Sokol crude cargo, two sources familiar with the matter said, clearing part of a backlog of cargoes disrupted by sanctions on Moscow's oil trade.The tanker is one of six ships carrying Sokol crude, which India has not been able to import due to payment issues. The six ships had been sailing to China but five of them are floating at sea early this week, shipping data showed, following fresh U.S.

Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said.The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said, declining to provide details about when they took place or who attended."Basically, China says: 'If our interests are harmed in any way, it will impact our business with Tehran.

The United States on Wednesday returned the Yemen-based Houthi rebels to a list of terrorist groups, while business chiefs warned that disruption to shipping in the Red Sea caused by their attacks could affect supply chains for months.Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe and alarmed major powers - an escalation of Israel's more than three-month-old war with Palestinian Hamas militants in Gaza.The Houthis say they are acting in solidarity with Palestinians and have threatened to expand attacks to include U.S.

Brazil's Petrobras will invest around $102 billion within the 2024-2028 period, the firm's new strategic plan showed on Thursday, representing a major boost in expected investments by the state-run oil company.The plan, the first released by the oil giant since CEO Jean Paul Prates took the helm of the company, includes investments in a range of different segments, with most of it going into oil exploration and production.The figure represents a 31% leap from the $78 billion Petrobras…

U.S. penalties on shippers transporting Russian oil in breach of the G7's price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and analysts told Reuters.The cap bans Western companies from providing maritime services for Russian seaborne oil exports sold above $60 a barrel.It was designed to keep oil flowing to markets while reducing Russia's energy earnings that it can use to finance its war on Ukraine…

Considerable private investment is required to scale up the low-carbon hydrogen economy in the United States by 2030, a report by consultancy Wood Mackenzie said on Tuesday, adding that the $7 billion allotted by the U.S. Department of Energy (DoE) to regional hubs was a significant step.Last week, the Biden administration announced seven proposed "hydrogen hubs" over 16 states would share $7 billion in federal grants. The two largest projects include $1.2 billion each for Texas…

Shell Plc on Monday launched its first electric ferry globally at its Singapore refinery and said it would work with the city-state's port authority to cut emissions from ships.The move is a step towards meeting the Singapore port authority's rule that all new harbour craft operating in its waters should be electric or run on biofuels or net-zero fuels from 2030.Shell Eastern Trading has agreed to work with the port authority to develop charging infrastructure for electric harbor craft and conduct research and development for low and zero-carbon fuels over five years…

United Arab Emirates' ADNOC Logistics & Services (ADNOC L&S) has expanded its fleet with the deployment of five new-build Very Large Gas Carriers (VLGC), state news agency WAM reported on Thursday.The carriers of the shipping and maritime logistics arm of state oil giant Abu Dhabi National Oil Company each have a capacity of 86,000 cubic metres. The carriers were built at Jiangnan Shipyard in Shanghai, China, and will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group (Wanhua), WAM added.

State oil giant Abu Dhabi National Oil Co (ADNOC) plans to float its marine and logistics subsidiary in the coming months, two sources said, the second initial public offering of one of its businesses this year.ADNOC, which raised $2.5 billion from listing its gas business in March, is gearing up for a June listing of ADNOC Logistics & Services (ADNOC L&S), said the sources, declining to be named as the matter is not public.HSBC was appointed as joint global coordinator on the syndicate this week…

Production at the Benchamas oil field in the Gulf of Thailand was suspended immediately after an accident last week and remains offline, U.S. oil giant Chevron Corp said in a statement on Monday.The announcement comes after an accident last week at an oil storage vessel caused seawater to leak into the vessel's hull, killing one crew member."We have recovered the body of our colleague who was fatally injured on March 13," a Chevron spokesperson said in a separate statement, adding that preparations were being made to return the body to the victim's family.

Italian oil giant Eni has signed a contract with China's Wison Heavy Industry for the construction and installation of a floating liquefied natural gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum). The FLNG will be deployed offshore the Republic of Congo.The 380-meter-long and 60-meter-wide vessel will be anchored at a water-depth of around 40 meters and will be able to store over 180,000 cubic meters of LNG and 45,000 cubic meters of LPG. Preliminary activities have already started…

The president of a U.S. maritime trade group has slammed a decision by the Biden administration to approve a temporary Jones Act waiver for vessels shipping oil and other essential commodities to Puerto Rico in the wake of hurricane Fiona.“Granting of this waiver rewards calculated and predatory behavior that undermines a dedicated American supply chain for Puerto Rico, and it is a harmful precedent that invites similar cynical stunts by foreign oil traders,” said Ku’uhaku Park…

For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot.With sky-high oil prices, a transition to renewable energy on the horizon, and 750,000 citizens desperate for better lives, Guyana is putting its foot on the gas to exploit its vast oil reserves, even if that means sacrificing some longer-term gains.Already locked into contracts with oil firms that have been criticized for being too one-sided…

German Chancellor Olaf Scholz said he was confident liquefied natural gas (LNG) could start flowing into the country via the Baltic Sea port of Lubmin within a matter of months, as Germany rushes to phase out Russian energy imports."Our goal is to get as much as possible there by the turn of the year, or a little bit later, so we can get gas quickly from wherever," Scholz said on Tuesday in Berlin after a meeting with the regional government of Mecklenburg-Vorpommern.State premier Manuela Schwesig said the federal economy ministry and local energy ministry were conducting joint audits.

Fiji court ruled on Tuesday that the United States can seize a Russian-owned superyacht, 21 days after it arrived and was impounded by police, as the United States and its allies press Russia over its invasion of Ukraine.U.S. authorities assert that the luxury vessel, the Amadea, is ultimately owned by Russian oligarch Suleiman Kerimov, who has been sanctioned by the United States and the European Union.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing yachts and other luxury assets to put the finances of Russian oligarchs under strain in a bid to pressure Russian President Vladimir Putin over the war in Ukraine.

Spanish authorities on Wednesday detained a mega-yacht called "Crescent" that is believed to belong to Igor Sechin, the sanctioned chief executive of Russian oil giant Rosneft, a police source told Reuters.The 135-metre-long yacht, described by specialist publications as one of the biggest in the world, sails under a Cayman Islands flag and arrived in Spain from Italy in November 2021, according to monitoring site Marine Traffic.Spain's Transport Ministry, which confirmed the detention but not the ownership, said it docked in the Mediterranean port city of Tarragona on November 2 and had sought permission from the coast guard to depart…

Abu Dhabi's AD Ports Group, owned by sovereign wealth fund ADQ, said it raised 4 billion dirhams ($1.1 billion) in proceeds from its primary issuance and would list its shares on the bourse on Tuesday.AD Ports Group, which operates ports, logistics and industrial zones, said the funds raised would be used for its organically and with acquisitions, as the company plans to expand both locally and internationally.AD Ports Group's shares are set to trade on Tuesday on the Abu Dhabi Securities Exchange under the ticker symbol ADPORTS, the company said in a statement.ADX has seen a surge of new list

Russia's Urals oil export loading plan from Baltic ports in January has been revised upwards by 0.1 million tonnes to 6.2 million tonnes, traders said on Tuesday.Oil giant Rosneft added an additional cargo for loading from Primorsk Jan. 24-25, traders said. The cargo was allocated to Glencore, they added.Primorsk oil exports in January have been increased to 3.8 million tonnes, traders said.

Chinese oil giant Sinopec has signed a 20-year liquified natural gas contract with U.S. LNG producer and exporter Venture Global LNG on November 4, 2021, to purchase 4 million tons of LNG a year. Venture Global will supply the LNG from its plant in Plaquemines, Louisiana. Also, China International United Petroleum & Chemicals ("UNIPEC"), a subsidiary of Sinopec, will buy LNG resources totaling 3.8 million tons from Venture Global's Calcasieu Pass project.Ma Yongsheng, president of Sinopec…

Italian industrial giants Eni and Fincantieri have signed an agreement to establish a partnership for promoting initiatives focused on the energy transition. Oil giant Eni and shipbuilder Fincantieri said the goal of the collaboration was to create a system of integrated solutions for decarbonization projects in the fields of energy, transport, and the circular economy."Eni and Fincantieri have identified areas of common interest for developing synergies, including reducing the environmental impact of the maritime transport sector…

State-backed holding company ADQ said on Tuesday it plans to list Abu Dhabi Ports Co on the Abu Dhabi Securities Exchange (ADX) before the end of the year.The proposed listing of a portion of existing shares is expected before the end of 2021, it said in a statement, subject to market conditions and obtaining regulatory approval.Established in 2006, Abu Dhabi Ports has 11 ports and terminals, and more than 550 square km ($334 miles) of industrial zones within Khalifa Industrial Zone Abu Dhabi (KIZAD) and Higher Corporation for Specialized Economic Zones.For the year ended December 31, 2020, Ab

Metals miner Nornickel said it will participate in the design and building of Russia's first dual-fuel liquefied natural gas (LNG) and diesel icebreaker to prepare for more capacity in the environmentally sensitive Arctic region.Russia, which has a fleet of nuclear-powered icebreakers, has long considered LNG-powered icebreaking ships to develop the Northeast Sea Route into an international shipping lane from Arctic waters.Nornickel, the world's largest palladium and nickel producer…