Gazprom Neft News

Russia will deliver oil to Brunei via the Northern Sea Route for the first time this September, expanding its export reach through the strategic Arctic passage, two sources familiar with the shipping data told Reuters.Until now, NSR shipments have been limited to China due to its proximity to Russia’s Far East. Moscow has been actively promoting the route, which is shorter and less costly than moving crude through the Suez Canal, to other partners including India and the U.S.The…

Freight rates for ESPO Blend crude shipped from the Russian port of Kozmino to China eased further in April to the lowest since mid-January on higher availability of tankers, three traders said.Lower rates mean Russian exporters will spend less on freight and earn more for their oil.Freight rates on the route have eased to levels of around $2 million-3 million for April-loading cargoes from $4 million-5 million for February and March volumes as more non-sanctioned tankers have joined the ESPO market, they added.Russia's ESPO Blend oil price fell below the $60 per barrel Western price cap level for the first time ever early in April as the international Brent benchmark plummeted to the lowest levels in years…

Russia’s Arctic oil exports to China are set to rise sharply this month buoyed by a jump in ship-to-ship transfers at sea to ensure tankers pulling into port are not on U.S. sanctions lists, according to traders and data from Vortexa.The Arctic oil business accounts for a tenth of Russia's seaborne oil exports which were hit with widened U.S. sanctions in January on nearly all tankers carrying crude oil grades such as ARCO and Novy Port and on Russian producer Gazprom Neft.To evade the curbs…

Two tankers hit by U.S. sanctions are due to offload Russian Arctic Oil in Syria for the first time, days after Moscow made its first known delivery of diesel there in more than a decade, according to LSEG data, a government source and local TV.One of the tankers, Aquatica, with some 100,000 tons of Russian oil onboard, is set to offload in Baniyas port soon, according to a government source and pro-government Syria TV.The vessel arrived on Thursday, but has yet to offload, according to the TV report and the government source.The second tanker…

Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.Higher freight costs cut Russian oil sellers' revenues that are already under pressure from U.S. sanctions and complicated logistics, while a lack of vessels in the region during the winter season may lead to loading disruptions, traders said.On Jan. 10 the U.S.

At least 65 oil tankers have dropped anchor at multiple locations, including off the coasts of China and Russia, since the United States announced a new sanctions package on Jan. 10, ship tracking data showed on Monday.Five of those tankers were stationary off Chinese ports and a further seven dropped anchor off Singapore, with others halting near Russia in the Baltic Sea and the Far East, according to Reuters' analysis based on MarineTraffic and LSEG ship tracking data.The U.S.

Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, as well as 183 vessels that have shipped Russian oil, targeting the revenues Moscow has used to fund its war with Ukraine.Many…

Russia is shipping a naphtha cargo via the North Sea Route (NSR) as Moscow seeks to increase supplies using the route to major trade partner China, cutting its way through European waters, traders said and Refinitiv data showed.SCF Irtysh is loaded with with 37,000 tonnes of naphtha onboard, loaded at Ust-Luga port on August 5, 2023, for delivery to China. It is the first such loading since at least the late 2000s, according to two traders.The supplier of the cargo was Gazprom Neft, the traders said.

A Liberian-flagged oil tanker set sail in May from Russia's Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even reached its destination in India, the cargo changed hands.The new owner of the 100,000 tonnes of Urals crude carried on the Leopard I was a similarly low-profile outfit, Guron Trading, also based in Hong Kong, according to two trading sources.The number of little-known trading firms relied on by Moscow to export large volumes of crude exports to Asia has mushroomed in recent months…

Russia's successor to McDonald's has teamed up with energy company Gazprom Neft to fuel marine vessels with biofuel produced using waste cooking oil an effort to lower their carbon footprints, the companies said on Thursday.Russia has said it was still committed to its climate targets despite the deepest political rift with the West in decades. Biofuels are widely considered to be less harmful in terms of emissions than conventional fuels.Gazprom Neft's bunkering business subsidiary…

Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.Most of the winners from the sanctions are based in China, India, Greece and the United Arab Emirates, at least 20 trading and banking sources said. A handful are partly owned by Russian companies.None of the firms is breaching sanctions, the sources told Reuters, but they have benefited from measures…

Russia's biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said.Previously, state-controlled Rosneft, which produces more than 40% of Russian oil, would sell its oil at the port of loading, meaning the buyer would have to find tankers and handle freight and insurance costs for the voyage.But with new, tighter Western sanctions looming…

Russian shipping firm Sovcomflot and oil firm Gazprom Neft have signed an agreement to develop innovative technologies and use low-carbon fuels in maritime transport.The document was signed by Igor Tonkovidov, President and CEO of Sovcomflot, and Alexander Dyukov, Chairman of the Management Board, CEO, Gazprom Neft.The agreement defines that the two Russian companies will seek cooperation opportunities in the reduction of ship emissions and reinforcement of safety and efficiency…

Singapore-based shipbuilder Keppel Offshore & Marine has delivered Dmitry Mendeleev, Russia’s first Liquefied Natural Gas (LNG) bunkering vessel. Designed and built by Keppel O&M, the 5,800m3 ice-class LNG bunkering vessel (LBV) Dmitry Mendeleev was delivered to Shturman Koshelev. When the vessel was ordered back in 2019, it was said that it would, once delivered, be chartered by Gazprom Neft for Baltic Sea operations.The LNG bunkering vessel is the fourth newbuild LBV by Keppel O&M and was built at its Keppel Nantong Shipyard in China to Keppel’s proprietary MTD 5800V LNG design.

Russia’s first ship designed to run on liquefied natural gas (LNG) and fuel other vessels with LNG has completed its sea trials, energy firm Gazprom Neft reported on Friday.The Dmitry Mendeleev is expected to enter Gazprom Neft’s fleet in the second half of this year, the company said.“The next stage will be the testing of systems for loading, storing and discharging of LNG,” it said.The Dmitry Mendeleev is an Arc4 ice-class vessel which will be able to transport up to 5,800 cubic meters of LNG. It will operate in ports on the Gulf of Finland and the Baltic Sea, including St.

Russia’s first cargo and passenger ship-to-ship LNG-bunkering vessel has been set afloat, Gazprom Neft has informed.“Ship-to-ship” bunkering involves ships being refueled directly from the deck of a specialist bunkering vessel. This technology means bunkering can be undertaken when ships are moored or docked at a pier.The company said Wednesday that the shipyard specialists had completed the main stage in the vessel’s construction, including assembling the hull and installing LNG fuel tanks and other auxiliary systems, in record time.

Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy Port oil grade to the Chinese port of Yantai on the Bohai Sea from Russia's north-western city of Murmansk, using the Northern Sea Route (NSR) through Russia's Arctic waters.The Delta Hellas vessel used part of the NSR, a route requiring icebreakers and ice-class tankers, Refinitiv Eikon data showed, sailing west from Murmansk to reach Suez and then China.Gazprom Neft said this week the delivery took 47 days, without providing the buyer's name.Gazprom Neft and ChemChina did not reply to Reuters requests for a comment.The company regularly supplies ESPO Blend crude oil to China

Gazpromneft Marine Lubricants said it has expanded its network in the Mediterranean to 27 ports in Greece, seven ports in Egypt, and 20 ports in Turkey.Partner’s production facilities in Turkey and Greece, as well as a warehouse in Egypt, allow the company to maintain product availability and provide short notice in the region, it said. Gazpromneft Marine Lubricants product portfolio includes 15 branded engine lubricants for use with various kinds of fuel, and also hydraulic, compressor, gear, turbine oils, special greases.

Gazprom Neft, is the third largest oil producer in Russia, and Mubadala Petroleum (Abu Dhabi, UAE) have entered into a memorandum of understanding in the field of technological cooperation.The partners agreed to work together to create new technologies that include the development of innovative solutions in oil production and digitization of production processes.Gazprom Neft and Mubadala Petroleum are partners in the Gazpromneft-Vostok joint venture, which manages the development of 12 fields in the Tomsk and Omsk regions of Western Siberia. This joint venture is also involved in implementing a technological project — the “Paleozoic…

PAO Sovcomflot (SCF Group), a Russian maritime shipping company specializing in petroleum and LNG shipping, announced that it has taken delivery of four newbuildings during last year.Three ‘Green Funnel’ LNG-fuelled Aframax crude oil tankers (Korolev Prospect, Vernadsky Prospect, Samuel Prospect) and Mikhail Lazarev, an Arctic MR shuttle tanker transporting crude oil for the Novy Port project, are now under a long-term contract with Gazprom Neft.All vessels are designed to the highest industry standards of safety and sustainability, it said.Korolev Prospect, a ‘Green Funnel’ crude oil tanker, became the first vessel to cross the entire length of the Northern Sea Route using only cleaner-burning LNG as a fuel.According to the company…

Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the Barents Sea and northern coastline of Russia are giving an added impetus to resource development in this region, according to GlobalData.GlobalData's report, ‘Arctic Exploitation’, discusses how Russia is keen on hydrocarbon appraisal and development from the Arctic region to such a great extent that it even settled its longstanding territorial dispute with Norway.The government is also providing tax incentives to companies that invest in this region.

Russian oil and gas exploration company Gazprom Neft has completed ecological monitoring of grey whale populations at the Ayashsky license block, offshore from Sakhalin Island, with expedition members registering more than 550 animals in the course of a five-month survey.According to a press release, the ecological monitoring of grey whales in the Sea of Okhotsk forms part of a joint programme being implemented by oil and gas companies operating in Sakhalin. Gazprom Neft joined the programme in 2017, on starting development of its Ayashsky license block.Researchers conducted 58 sorties on the Siem Sapphire support vessel between June and October…

Russia's state-owned tanker carrier Sovcomflot (SCF Group) reported improvements on both the top and bottom line in the third quarter benefiting from a stronger tanker market.The energy shipping company posted a net profit of  $26m as revenue increased in the third quarter.Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot, said: “We are satisfied with the Group’s performance over the third quarter. Sovcomflot steadily follows through on its strategy of increasing the share of large-scale industrial shipping projects in its portfolio."He added: "During the reporting period, Sovcomflot achieved a major strategic milestone when we agreed with NOVATEK to establish a new joint venture, SMART LNG.