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David Gregorio News

20 Mar 2024

Petrobras Exec Says Gas Export Possible from Colombia Project

© passarut / Adobe Stock

A promising area off Colombia's coast where Brazil state-run Petrobras is drilling this year could justify a large project to supply natural gas to the Andean country and for exports, Petrobras' head of exploration and production said on Wednesday.As oil production in Brazil's prolific presalt region is set to plateau in coming years, Petrobras is expanding its horizons to new frontiers including the Equatorial Margin, Colombia and Africa.At Colombia's Tayrona block, Petrobras…

20 Mar 2024

Shipping Companies Turn to Longer-Term Leases as Tanker Supply Tightens

© Vladimir / Adobe Stock

Rising oil tanker chartering rates due to global shipping disruption are forcing oil shippers to take on longer-term shipping charters, executives said this week at an energy conference in Houston.The global oil tanker fleet must now travel further to get crude to refineries and fuel to consumers. European sanctions have forced Russian exporters to send oil to Asia that would have otherwise gone to Europe. Attacks on vessels in the Red Sea have forced some shippers to sail around…

18 Mar 2024

CEO Says Exxon Mobil Not Trying to Buy Hess

Source: Hess

Exxon Mobil CEO Darren Woods on Monday said his company is trying to establish it has rights over Hess Corp's Guyana assets in its dispute with Chevron, not buy the company itself.In his first public remarks on the company's pursuit of an arbitration case that could block Chevron's $53 billion deal for Hess, Woods said Exxon would not have waited for Chevron to announce its Hess deal if it had wanted to buy Hess."We're basically standing up for what we believe is a fundamental right," Woods told Reuters at the CERAWeek energy conference in Houston.

15 Feb 2024

US Issues Clean Air Permit to Empire Offshore Wind Project

Source: Empire Wind

The U.S. Environmental Protection Agency (EPA) on Thursday, granted a Clean Air Act permit to New York's Empire Offshore Wind owned by Equinor.The permit was given after an air quality analysis showed federal air quality standards would not be compromised during construction and operation of the project, the agency said."When built, this project is expected to generate more than 2,000 megawatts of electrical power for New York State – enough to power as many as a million homes,” said Regional Administrator Lisa F.

07 Feb 2024

Panama Canal Does Not Plan Transit Restrictions Before April

Source: Panama Canal Authority

The Panama Canal sees no need for further vessel transit restrictions until at least April, when its authority will evaluate water levels at the end of the dry season, Deputy Administrator Ilya Espino told Reuters.A severe drought last year forced the canal to reduce the number of vessels allowed to pass per day. In December, rains in the last quarter of the year allowed the waterway to suspend further restrictions that would have been applied in January.In recent months, attacks to ships at the Red Sea have prompted many vessel owners to take longer routes to and from Asia…

26 Jan 2024

Freeport LNG Unit Faces Month-long Outage

(File photo: Freeport LNG)

U.S. liquefied natural gas (LNG) company Freeport LNG said on Friday it expects one of three liquefaction units at its Texas plant will be out of service for about a month after it faced a technical issue during last week's Arctic freeze.This shutdown was the latest in a series of incidents at the plant since it exited an eight-month outage from June 2022 to February 2023 following a fire and explosion.Since April, at least one liquefaction train at the plant has shut or tripped - sometimes several times…

12 Jan 2024

Container Rates Soar on Concerns of Prolonged Red Sea Disruption

© aerial-drone / Adobe Stock

Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.U.S. and British warplanes, ships and submarines launched dozens of strikes across Yemen overnight in retaliation against Iran-backed Houthi forces for attacks on Red Sea shipping, widening regional conflict stemming from Israel's war…

11 Jan 2024

Iran Confirms Seizure of Oil Tanker Involved in US-Iran Dispute

© evannovostro / Adobe Stock

Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the U.S., Iranian state media reported, a move likely to stoke regional tensions.The seizure of the Marshall Islands-flagged St Nikolas coincides with weeks of attacks by Yemen's Iran-backed Houthi militias targeting Red Sea shipping routes."After the theft of Iranian oil by the United States last year, St Nikolas tanker was seized by Iran's Navy this morning with a judicial order ...

10 Jan 2024

UN Security Council Demands Houthis Stop Red Sea Attacks

File photo: The U.S. Navy Arleigh Burke-class guided-missile destroyer USS Carney (DDG 64) defeats a combination of Houthi missiles and unmanned aerial vehicles in the Red Sea, October 19, 2023. (Photo: Aaron Lau / U.S. Navy)

The U.N. Security Council on Wednesday demanded Yemen's Houthis immediately end attacks on ships in the Red Sea and cautioned against escalating tensions while implicitly endorsing a U.S.-led task force that has been defending vessels.The demand came in a Security Council resolution that also called on the Houthis to release the Galaxy Leader, a Japanese-operated vehicle carrier linked to an Israeli businessman that the group commandeered on Nov. 19, and its 25-person crew.Eleven members voted for the measure demanding the Houthis "immediately cease all attacks…

09 Jan 2024

Oil Tankers Continue Red Sea Movements Despite Houthi Attacks

© Haris Andronos / Adobe Stock

Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed.The attacks have driven up shipping costs sharply along with insurance premiums, but have had less impact than feared on oil flows, with shippers continuing to use the key East-West passage. The Houthis, who have said they are targeting Israel-bound vessels, have largely…

02 Jan 2024

Malta-Flagged Container Ship Reports Explosions Nearby

© Kalyakan / Adobe Stock

British maritime security firm Ambrey said on Tuesday that a Malta-flagged container ship reported seeing three explosions towards its port quarter, 15 miles (24 km) southwest of Yemen's Mocha.The vessel master was heard over VHF, calling a coalition warship, the firm added.Ambrey said it understood that three missiles had been fired from the direction of Yemen's Taiz Governorate.A nearby vessel reported seeing a small boat, about 50 metres (160 feet) in length, and with two lights…

20 Dec 2023

US Gulf of Mexico oil Auction is Largest Since 2015

© arsenypopel / Adobe Stock

A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.The auction total was the highest of any federal offshore oil and gas lease sale since 2015, according to a Reuters tally.Shell, Hess, Anadarko, BP, Chevron, Repsol and Equinor were among the 26 companies that participated in the sale.Anadarko had the auction's highest bid of more than $25 million for a block in the deepwater Mississippi Canyon area, according to an online broadcast of the sale by the U.S.

20 Dec 2023

Russia Oil Price Cap Coalition Toughens Shipping Rules

© AUUSanAKUL+ / Adobe Stock

The U.S.-led coalition imposing a price cap on seaborne Russian oil announced changes on Wednesday to its compliance regime the Treasury Department said will make it harder for Russian exporters to bypass the cap.The Treasury also imposed fresh sanctions on a ship manager owned by the Russian government and three oil traders involved in Russian oil trade.The Group of Seven (G7) industrialized countries last year imposed a price cap of $60 per barrel on Russian oil shipments in…

13 Dec 2023

Tanker in Red Sea Targeted by Speedboat Gunfire and Missiles

© FER737NG / Adobe Stock

A tanker in the Red Sea off Yemen's coast was fired on by gunmen in a speedboat and targeted with missiles, maritime sources said on Wednesday, the latest incident to threaten the shipping lane after Yemeni Houthi forces warned ships not to travel to Israel.A second commercial vessel was also approached by the speedboat in the same area though not attacked, British maritime security firm Ambrey and other sources said.Separately, a U.S. defence official in Washington said the U.S.

29 Nov 2023

Canada's Top Admiral Says Navy in Critical State

Future Protecteur-class Joint Support Ship (Source: RCN)

Canada's understaffed and resource-stretched navy is in "a critical state" and might not be able to carry out its basic duties next year, the top admiral said in a YouTube video released this week.The comments by Vice-Admiral Angus Topshee are an unusually blunt expression of unhappiness from the military over the state of the armed forces. Canada only spends about 1.3% of its annual gross domestic product on defense, much less than the North Atlantic Treaty Organization target of 2%.In the video…

27 Nov 2023

Tanker Safe After US Navy Responds

USS Mason source US Navy

A U.S. Navy warship responded to a distress call from a commercial tanker in the Gulf of Aden that had been seized by armed individuals and is now safe, U.S. officials said on Sunday.The tanker, which had been carrying a cargo of phosphoric acid, was identified as the Central Park by the vessel's company. The officials did not identify the attackers.In a statement, the U.S. military said the USS Mason, with help from allied ships, demanded that the commercial ship be released by the attackers. Five armed individuals tried to escape on a fast boat but were chased by the U.S.

23 Nov 2023

Gulf of Mexico Oil Spill Shuts in Around 3% of Daily Output

Credit: US Coast Guard

Around 61,165 barrels of daily oil output from at least six producers, making up about 3% of crude oil production in the Gulf of Mexico, has been shut in by Third Coast Infrastructure's underwater pipeline leak, the U.S. Coast Guard said on Wednesday.The oil producers whose facilities are impacted include W&T Energy, Occidental Petroleum, Walter Oil and Gas, Cantium, Arena Offshore and Talos Energy Ventures, the Coast Guard said, citing the U.S. Interior Department's Bureau of…

12 Nov 2023

Australia Says DP World Cyber Incident 'Serious'

Source: DP World

The Australian government on Sunday described as "serious and ongoing" a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states since Friday.DP World Australia, which manages nearly half of the goods that flow in and out of the country, said it was looking into possible data breaches as well as testing systems "crucial for the resumption of normal operations and regular freight movement".The breach halted operations at the containers terminals in Melbourne…

03 Nov 2023

US House Passes Bill to Harden Sanctions on Iranian Oil

© Vladimir / Adobe Stock

The U.S. House of Representatives easily passed a bill on Friday to bolster sanctions on Iranian oil in a strong bipartisan vote.The Stop Harboring Iranian Petroleum (SHIP) bill, which passed 342-69, would impose measures on foreign ports and refineries that process petroleum exported from Iran in violation of U.S. sanctions.U.S. lawmakers are debating several pieces of legislation to pressure Iran after the Oct. 7 attacks on Israel by Hamas that killed at least 1,400 people, mostly civilians.

30 Oct 2023

US Reviews of Gas-export Permits Slow Under Biden Administration

© Wojciech Wrzesień  / Adobe Stock

U.S. Department of Energy reviews for liquefied natural gas (LNG) export permits have lengthened under President Joe Biden's administration to 11 months or more, from seven weeks, according to government data.The delay could mean nearly completed LNG projects may not being able to supply big European buyers because of a lack of the permit. Increasing LNG exports is opposed by some U.S. industries who fear it could raise domestic prices, while environmental groups have raised concerns about continued expansion of a fossil fuel industry.Big swaths of U.S.

03 Oct 2023

Belize to Make Biofuel from Problem Seaweed

© ENRIQUETA / Adobe Stock

Belize is developing a pilot project to convert the masses of foul-smelling sargassum seaweed swamping its pristine beaches into biofuel, its prime minister said in a statement published by regional Caribbean bloc CARICOM on Tuesday.Many Caribbean countries depend economically on drawing travelers from around the world to their white sand beaches, but since 2010 heaps of rotting seaweed have been massing on the shores for reasons scientists do not yet fully understand but suspect are related to climate change.Floating sargassum provides shelter and food for marine animals but as it washes asho

22 Sep 2023

Pope Says Impeding Migrant Rescues at Sea is 'Gesture of Hate'

© Boris V. / Adobe Stock

Pope Francis said on Friday that migrants who risk drowning at sea "must be rescued" because doing so was "a duty of humanity" and that those who impede rescues commit "a gesture of hate".Francis, 86, spoke at an inter-religious prayer service before a monument dedicated to those lost at sea. Earlier, the city's archbishop, Cardinal Jean Marc Aveline, an Algerian-born Frenchman, criticized politicians who block NGOs and their ships from saving drowning people."We cannot be resigned to seeing human beings treated as bargaining chips, imprisoned and tortured in atrocious ways," Francis said.

18 Sep 2023

California Sues Oil Giants

Source: California Office of Governor

The state of California has sued major oil companies including Exxon Mobil, Shell PLC, and Chevron, accusing them of playing down the risks posed by fossil fuels, according to a court filing on Friday.The lawsuit, which also targets BP and ConocoPhillips, alleges the energy giants' actions have caused tens of billions of dollars in damages and accuses them of deceiving the public, the filing in a superior court in San Francisco showed.The American Petroleum Institute, an industry trade group…