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Activists Block Greek Tanker with Russian Cargo from Entering UK Port
Greenpeace protesters have blocked the entry of a Greek tanker into a southern English port due to its Russian fuel cargo with police making arrests, the green group…
Biden Bans Russian-linked Ships from US Ports
President Joe Biden announced on Thursday the United States will ban Russian-affiliated ships from American ports, joining Canada and European nations, in the latest step to pressure Russia over its invasion of Ukraine.The White House will release a proclamation with more details. Reuters first reported Biden's planed action on Thursday and reported in early March the ban was under consideration by the White House."That means no ship…
China's Bunker Exports Nosedive
China's exports of marine fuel in March plunged 15% from a year ago, customs data showed on Wednesday, hit by high prices and COVID-19 curbs at domestic ports.March shipments were 1.42 million tonnes, data from the General Administration of Customs showed. Most of this was very low-sulphur fuel oil (VLSFO), with a maximum sulphur content of 0.5%, to meet the emission rules of the International Maritime…
How Much Oil Does the European Union Import from Russia?
The European Commission has proposed new sanctions against Russia over its invasion of Ukraine, including a ban on buying Russian coal and on Russian ships entering EU ports. Yet the EU faces an uphill slog to wean itself of energy imports from its Eastern neighbor.Following is a summary of key facts about the EU's use of Russian oil:How much Russian oil does the EU import?Europe is the destination for nearly half of Russia's crude and petroleum product exports…
Australia, Indonesia Unlikely to Meet Europe's Coal Demand If Russian Imports Banned
Indonesia and Australia, among the world's top coal exporters, have hit their production limits and are unlikely to meet Europe's demand for additional supplies if the European Union bans Russian coal imports, mining executives said on Wednesday.The European Commission proposed on Tuesday new sanctions against Russia over its invasion of Ukraine, including a ban on buying Russian coal and on Russian ships entering EU ports…
EU Split on Russia Oil Sanctions, Mulls Other Steps
The European Union's foreign ministers disagreed on Monday on whether and how to slap sanctions on Russia's lucrative energy sector over its invasion of Ukraine, with Germany saying the bloc was too dependent on Russian oil to decide an embargo.The EU and allies have already imposed hefty measures against Russia, including freezing its central bank's assets.Russia's siege and bombardment of Mariupol port…
US Push to Export LNG Amid Ukraine Conflict Slowed by Climate Concerns
Early White House efforts to boost U.S. liquefied natural gas exports and cut Europe's reliance on gas from Russia after its invasion of Ukraine are proceeding slowly, because of concerns about climate change impacts, government and industry sources said.The Ukraine crisis has underscored Europe's dependence on Russia, which supplies about 40% of its natural gas used to heat homes and generate electricity…
Barring Russian Ships from Rotterdam Port 'Not on Table' for now, Dutch PM Says
Dutch Prime Minister Mark Rutte said that barring Russian ships from the port of Rotterdam was "not on the table" for now, since any such move would have to be decided at a European level.Rutte made the comments to reporters, while on a visit to Paris, where he will meet French President Emmanuel Macron.Oil prices rose towards $130 a barrel on Wednesday, supported by concern of a potential supply shock…
UK to Phase Out Russian Oil Imports By End of 2022
Britain will phase out imports of Russian oil and oil products by the end of 2022, Prime Minister Boris Johnson said on Tuesday, joining other nations including the United States in reducing their energy dependency on Russia.In response to President Vladimir Putin's decision to invade of Ukraine, Britain and others are seeking ways to deprive Moscow of income and cut their own use of Russian energy exports by becoming more self-sufficient."In another economic blow to the Putin regime following t
Biden Bans Russia Oil Imports to the US
U.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices."We're banning all imports of Russian oil and gas energy," Biden told reporters at the White House. "That means Russian oil will no longer be acceptable in U.S.
China Taps Alternative Payments to Keep Russian Oil Flowing
Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Fast East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.Global oil prices have soared to their highest in a decade as banks halted financing Russian oil after the United States and other countries ramped up sanctions on Moscow following its invasion of Ukraine.Spot crude premiums and freight rates also spiked…
EU Nations Considering Banning Russian Ships from Ports
European Union countries are considering a ban on Russian ships entering the bloc's ports, aiming to tighten sea restrictions after a halt on air traffic, European officials say, a step that would further hamper Russia's commercial shipments.Britain already decided on Monday to deny entry to British ports to all ships that are Russian owned, operated, controlled, chartered, registered or flagged. Canada followed on Tuesday…
Iranian Condensate Cargo arrives in Venezuela
A 2.1 million barrel cargo of Iranian condensate arrived in Venezuela's waters this week, vessel tracking data and a company document showed, ferrying supplies to…
Iran's Oil Exports On the Rise
Iranian oil exports have risen to more than 1 million barrels per day for the first time in almost three years, based on estimates from companies that track the flows, reflecting increased shipments to China.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue…
China's Crude Oil Imports in Oct Drop to Lowest in Three Years
China's crude oil imports plunged in October to the lowest since September 2018, as large state-owned refiners withheld purchases because of rising prices while independent refiners were restrained by limited quotas to import.The world's biggest crude oil importer brought in 37.8 million tonnes last month, data from the General Administration of Customs showed on Sunday, equivalent to 8.9 million barrels per day (bpd).That is down from 9.99 million bpd in September and 10.02 million bpd in the s
Oil Output, Vessel Traffic Halted as Nicholas Lashes Texas
Hurricane Nicholas on Tuesday took another swipe at U.S. Gulf Coast energy facilities, cutting offshore oil and gas output gradually recovering from the last storm and disrupting power to onshore pipeline, gas and chemical plants.Royal Dutch Shell halted production its Perdido offshore oil platform due to heavy winds, and U.S. liquefied natural gas producer Freeport LNG said processing at its Texas coast facility was halted…
Energy Firms Face Another Storm in US Gulf
Royal Dutch Shell on Monday began evacuating staff from a U.S. Gulf of Mexico oil platform, and other energy companies began preparing for hurricane-force winds from a second Gulf Coast storm in as many weeks.Tropical Storm Nicholas was about 105 miles (115 km) south of Port O'Connor, Texas, and moving north with winds of 60 miles per hour (97 kph). It could become a hurricane just ahead of landfall on Monday…
Profitability Still a Way Off for Tanker Shipping -BIMCO
New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement. Average earnings have dropped below $10,000 per day since June for all crude oil tankers, with many trades offering negative earnings…
Oil Tankers Cluster Off Louisiana as Ports Assess Storm Damages
More than two dozen oil vessels were clustered off Louisiana seaports on Tuesday as the U.S. Coast Guard and port operators assessed damages wreaked by Hurricane Ida, according to sources and Refinitiv Eikon data.Dozens of ports from Louisiana to Alabama closed as Ida tore through the Gulf of Mexico and slammed into the coast on Sunday. A few have reopened with restrictions on vessel drafts.Ida made landfall at Port Fourchon…
China’s 2021 Crude Oil Imports Down 5.7% - BIMCO
Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth. After the first seven months of 2021, China’s crude oil imports are down 5.7% compared with the same period last year. January to July imports stood at 301.9m tons, an 18.1m tons decline from January to July 2020.The June and July decline in crude oil imports is not attributable…