Iran's Oil Customers in Europe Might Reduce Imports
European oil companies are not ruling out reducing Iranian oil imports after the threat of new U.S. sanctions, with some expecting banking issues to hinder trade, but there was no rush to immediately cut volumes.U.S. President Donald Trump said on Tuesday the United States was exiting an international nuclear deal with Iran and would impose new sanctions that seek to reduce oil exports from OPEC's third-largest producer.But as of Friday, companies in Europe said they were still taking Iranian oil.
Diesel Tankers Turn to New York after Stocks Drop
Tankers carrying diesel from Asia and Europe, including a giant 200,000 tonne cargo, are sailing towards New York where fuel supplies have dropped to a three-year low in recent weeks.The very large crude carrier (VLCC) Maran Aphrodite changed its destination on Friday to New York from its previous port of Rotterdam, according to Reuters ship tracking data.The vessel, which traders said was chartered by Total, left Singapore earlier this month.Several tankers have also been booked to go from Europe and the Baltics to the port of New York, a relatively rare route.
Conoco Seized PDVSA Products from Isla Refinery
U.S. oil major ConocoPhillips has seized products belonging to Venezuelan state oil company PDVSA from the Isla refinery it runs on Curacao, an island official told Reuters on Sunday.Conoco has won court orders allowing it to seize PDVSA assets on Caribbean islands, including Curacao, in efforts to collect on a $2 billion arbitral award linked to the 2007 nationalization of Conoco assets under late leader Hugo Chavez.“PDVSA products from the installations of the Isla refinery have been confiscated.
Kutubu Light Crude Oil Exports to Resume in Spot Trade
Sales of Kutubu Light crude oil cargoes will resume in the Asia spot market in July after a major earthquake in Papua New Guinea shut production from late February to early April, three industry sources said on Monday.While production at the facility resumed in early April, producers of the light crude oil have been trying to meet previously committed cargoes to buyers which had been delayed due to the earthquake, one of the people said.The sources declined to be identified because they were not authorized to speak with media.The July-loading program will be the first time since February that Kutubu Light crude will be fully available in the spot market…
Mexico Oil Export Ports Closed
Two of Mexico's chief oil export ports were closed on Tuesday, Reuters reported, because of strong winds and waves in parts of the Gulf of Mexico, port officials said. The port of Dos Bocas, located in the southeastern state of Tabasco, was shuttered as seas crested at 10 ft. and winds gusted at between nine and 12 mph, said an official at the port captain's office. The Pajaritos terminal, part of the Coatzacoalcos complex in eastern Veracruz state, was also closed as waves hit 10 ft. and winds ranged from 21 to 27 mph, said a port official. The Gulf-side port of Cayo Arcas in southeastern Campeche state and the Pacific Port of Salina Cruz were operating normally, said port officials and the Transport Ministry.
Tropical Storm Keith Forces Key Oil Ports To Close
Two of Mexico's key oil export ports were shut down on Wednesday as tropical depression Keith whipped up winds and waves in the Gulf of Mexico, though the effects on oil production were not immediately known, authorities said. The port of Dos Bocas in southeastern Tabasco state was closed as winds blew from 21 and 27 miles per hour and seas swelled at between eight and 10 ft., said the transport ministry in a statement. Cayo Arcas in neighboring Campeche state was also closed, though the transport ministry did not provide details on port conditions.
Inclement Weather Closes Two Mexican Ports
Strong winds and choppy seas produced by a Gulf of Mexico cold front forced the closure of two of Mexico's main oil exporting ports on Tuesday afternoon, authorities said. Pajaritos port, part of the Coatzacoalcos complex in eastern Veracruz state, was shuttered to oil tankers as waves crested at eight feet and winds blew at 30 to 33 miles per hour (50-55 km per hour), transportation officials said. The port of Dos Bocas, located in the southeastern state of Tabasco, was also closed but transportation officials did not provide conditions at the port. Mexico's two other ports - the Gulf port of Cayo Arcas in southeastern Campeche state and the Pacific facility of Salina Cruz in Oaxaca state - were both open on Tuesday afternoon.
Weather Stops Crude Exports
Mexico's crude oil export ports Dos Bocas and Pajaritos in the Gulf of Mexico remained closed on Wednesday by bad weather, the Transport Ministry said. Winds of up to 85 kmph were whipping up 14-ft. waves at Coatzacoalcos the Veracruz state port where Pajaritos is located, the ministry said. A daily average of 389,000 barrels of extra-light Olmeca crude was exported from Pajaritos in 1997.
Crude Spill Hits PDVSA's Jose Terminal
Operations at Venezuela's main oil-exporting port Jose were hit by a crude oil spill on Tuesday, union sources and shipping agents told Reuters. A break in a pipeline that runs from the oil terminal to a single buoy mooring (SBM) facility near Venezuela's eastern coast would have produced the spill, according to four sources familiar with the incident. None of the sources could confirm the spill's magnitude but operators said there were no vessels docking at the SBM at the time of the incident. The 36-inch pipe can transport up to 32,000 barrels per day (bpd) of crude oil to the SBM facility, which is used by tankers to load oil for export. State-owned oil company PDVSA did not immediately respond to a request for information about the incident.
Two Mexican Oil Ports Reopen after Dolly Downgraded
Two of Mexico's three main oil exporting ports in the Gulf of Mexico, Dos Bocas and Cayo Arcas, were reopened on Wednesday after major storm Dolly was downgraded, the country's communications and transport ministry said in a statement. Dolly, which was previously a tropical storm, weakened to remnant status on Wednesday, the U.S. National Hurricane Center said in its latest advisory. Mexico's third major oil hub, Coatzacoalcos, was never closed despite strong winds and rainfall associated with Dolly. The country's Tampico and Altamira ports, however, have been closed since Tuesday due to bad weather, the ministry added. Almost all of Mexico's crude oil exports are shipped to refineries on the Gulf Coast of the United States from the Dos Bocas, Coatzacoalcos and Cayo Arcas ports.
Air Strikes on Port of Misrata
Forces loyal to Libya's internationally recognised government on Saturday staged air strikes on the commercial port of Misrata, a western city allied to a group that holds the capital Tripoli, both sides said. Fighting was also reported near the country's biggest oil export port located in the east, part of a struggle between troops loyal to two competing governments and parliaments. The internationally recognised prime minister Abdullah al-Thinni has been forced to run a rump…
Bad Weather Closes 3 Major Mexican Oil Ports
Three of Mexico's major oil export ports along the Gulf coast have been closed due to bad weather, the Communications and Transport Ministry said on Tuesday. Cayo Arcas, Dos Bocas and Coatzacoalcos have been closed since Sunday. Nearly all of Mexico's crude exports from Pemex, the state-owned oil producer, are shipped from the three ports to Gulf coast refineries in the U.S. states of Texas and Louisiana. (Reporting by Joanna Zuckerman Bernstein; Editing by Jeffrey Benkoe)
U.S. Crude Jumps $1 on Jobs Data, Libya Doubt
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 192,000 jobs were added in March in major test of the argument that the economic weakness of January and February was due to bad weather. Expectations had been building that an eight-month blockage of Libya's oil export ports would end after rebels and the government said they were close to an agreement. The Libyan government said it had seen evidence of "good intentions" at indirect talks with eastern rebels that could lead to renewed exports.
Mitropoulos Visits Russia
During his week-long official visit to the Russian Federation (July 11-15, 2005), IMO Secretary-General Efthimios E. Mitropoulos has received pledges of continued support for a full range of IMO activities, including the important IMO Voluntary Member State Audit Scheme. In a packed program that included high-level talks as well as a series of visits to key Russian maritime centers, Mr. Mitropoulos received repeated assurance of the Russian Government’s firm intention to continue supporting the development and adoption of global standards for shipping engaged in international trade only through IMO and for the work programme and initiatives of the Organization. Among the senior figures with whom Mr. Mitropoulos enjoyed productive talks during his visit were Mr. M. E.
Libya's Hariga Oil Port Shut Due to Strike
Libya's eastern oil export port Hariga shut down because of a strike over unpaid salaries of security guards, closing the country's last functioning export port apart from two offshore fields. The closure will lower oil output to less than 300,000 barrels a day, a fraction of the 1.6 million Libya used to pump before the 2011 uprising toppling Muammar Gaddafi. The terminal near Tobruk, with a capacity of 120,000 b/d has by and large escaped disruption thanks to its easterly position.
Libya's Hariga Oil Port Reopens After Strike
Libyan oil export port Hariga has reopened after guards ended a strike over salary payments, and the terminal will start loading tankers once better weather allows, a facility spokesman said on Tuesday. Libya shut most operations at the eastern port, located near the border with Egypt, on Saturday after security guards prevented a tanker from docking in protest over wages. "An oil tanker was supposed to dock at the port this morning but the weather was against this. We will wait until the weather allows us to go ahead," said spokesman Omran Al-Zwie. A closure at Hariga would have cut Libya's oil exports to 100,000 barrels per day or less, based on previous official data.
Iran-Indian Co-operation in Chabahar Port
Iranian President Hassan Rouhani vowed to collaborate more closely with India on the strategic Chabahar port development. Rouhani made the pledge when India's National Security Advisor Ajit Doval called on him in Tehran. The implementation of Chabahar-Zahedan Railway project and expanding Port of Jask to make it an important oil export port, President Rouhani said Iran is ready to cooperate more closely with the Indian private sector. The Port of Chabahar is a seaport in southeastern Iran. Its location lies in the Gulf of Oman. It is the only Iranian port with direct access to ocean.
First Oil tanker Libya's Hariga Since Strike, Storm
An oil tanker has docked at Libya's port of Hariga for the first time since security guards ended a strike this week and a storm passed, a port official said on Thursday. Authorities managed earlier this week to persuade security guards to end a strike over delayed salary payments, keeping Libya's only functional onshore oil export port open. A storm then further delayed the terminal's reopening. Greek-registered Minerva Zoe, which had been waiting to dock for a week, would start loading 725,000 barrels of oil soon, the official said, asking not to be identified. The tanker was bound for Italy. Another tanker importing 25,000 tonnes to Libya had also arrived, he said.
Libyan Rebel Leader: Govt Has Not Fulfilled Deal to Reopen Ports
A rebel group controlling two large oil export ports in eastern Libya said on Wednesday the government had not fulfilled its part of an agreement to reopen the ports. Abd-Rabbo al-Barassi, self-declared prime minister of the group, also told a pro-rebel television station it refused to deal with new Prime Minister Ahmed Maiteeq. (Reporting by Ulf Laessing; Editing by Andrew Roche)
Conoco Moves to Seize PDVSA's Caribbean Assets
U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions. The U.S. firm targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for about a quarter of Venezuela's oil exports last year. The three play key roles in processing, storing and blending PDVSA's oil for export.
Tightening Noose: Venezuela's Crisis Deepens
The news that Venezuela's PDVSA has diverted a crude tanker from Curacao after ConocoPhillips moves to satisfy a $2 billion arbitration award signals that worst may be yet to come. Reuters is reporting that Venezuela's state-run PDVSA ordered a tanker waiting to discharge at its Curacao terminal to divert to Venezuelan waters after ConocoPhillips introduced an order in a Caribbean court to seize its inventories and other assets in the island, according to a shipper and Reuters data on Tuesday.
PDVSA Halts Caribbean Storage, Shipping; Diverts Oil Cargo
Venezuela's state-run PDVSA suspended oil storage and shipping from its Caribbean facilities following a move by ConocoPhillips to temporarily seize the firm's assets on four islands, according to a PDVSA source and Reuters data.PDVSA has begun concentrating most shipping in its main crude terminal of Jose on Venezuela's eastern coast and recalling tankers to Venezuelan waters to avoid seizures that would further cut its exports and worsen an economy on the verge of collapse.U.S.…
Sanctions spell the end of OPEC output deal
President Donald Trump’s decision to withdraw from the nuclear agreement with Iran marks the end of the current output agreement between OPEC and its allies.OPEC is likely to insist the current agreement remains in effect, at least for now, but the prospective removal of several hundred thousand barrels per day of Iranian exports from the market will require a major adjustment.Saudi Arabia has already promised to "mitigate" the impact of any potential supply shortages, in conjunction with other suppliers and consumer countries…