Oil Suppliers News

Russia's seaborne oil exports from Primorsk, Ust-Luga and Novorossiisk hit 4-year record of 2.4 million barrels per day (bpd) in May as domestic refineries maintenance season freed up extra barrels, Refinitiv Eikon data showed on Monday.Russia's oil exports have been growing steadily over the last couple of months even though the state pledged additional cuts in line with OPEC+ members. Saudi Arabia has recently announced a deep cut to its output in July on top of a broader OPEC+ deal.Russian refineries cut runs in May amid major seasonal maintenance on most plants…

India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations.That means the Kremlin is enjoying stronger revenues despite the West's attempts to curb funds for Russia's military operations in Ukraine.A G7 source told Reuters on Monday the Western price cap would remain unchanged for now, despite pressure from some European Union countries, such as Poland,…

Engine designer WinGD (Winterthur Gas & Diesel) has published a cylinder lubrication guide to provide ship operators with consolidated, at-a-glance information highlighting the specific usage conditions for each and every approved cylinder oil.The guidance is the result of several months’ work with major oil companies to make usage requirements more transparent. Previously, the guidelines for each oil were found only in the industry standard No Objection Letters (NOL) issued by WinGD to oil companies, and available only upon request by a customer to an oil company directly.

Crude oil tanker earnings have come down sharply in recent weeks with very large crude carrier (VLCC) earnings from the Middle East Gulf to China dropping 68% in just nine days (from $222,591 per day on April 22 to $71,885 per day on May 4), according to BIMCO. In the same period, daily VLCC earnings from the Middle East Gulf to the U.S. Gulf have plunged nearly 80% (from $162,433 per day to $36,249).The window of extraordinary earnings closed at the end of April with the OPEC+ oil production cuts of 9.7 million barrels per day (bpd) on May 1, reducing the flood of oil in the market.

China's Ministry of Transport has raised its security recommendation for Chinese vessels in the Malacca Strait, a major potential bottleneck for global oil, to the highest level, according to a notice dated July 2 sent to shipping companies.The level for Chinese vessels passing through and going to the strait was raised to "3" as of 10 p.m. on July 2 (1400 GMT), according to the notice, whose authenticity was confirmed by an official at the ministry.It said shipping firms "should…

International Maritime Organization (IMO)'s Marine Environment Protection Committee (MEPC 73) has begun a busy session (22-26 October).On Monday, the MEPC moved ahead with its work to deliver the IMO initial strategy on the reduction of greenhouse gas emissions from ships, approving a programme of follow-up actions.A working group on GHG reduction will continue discussions, including the scope of the fourth IMO GHG study.The Committee will address the implementation of the 0.50% sulphur limit. From 1 January 2020, the limit for sulphur in fuel oil used on board ships operating outside designated emission control areas will be reduced to 0.50% m/m (mass by mass).

Liberia has submitted a paper to the IMO Marine Environment Protection Committee (MEPC) calling for early reporting on the availability of fuel oil that is compliant with the new 0.50 percent global fuel oil sulphur limit well in advance of January 1, 2020, the effective date the new fuel oil must be used on board ships.David Pascoe, Senior VP, Maritime Operations and Standards, Liberian International Ship & Corporate Registry (LISCR), the U.S.-based manager of the Liberian Registry…

To assist shipping companies prepare for implementation of the UN IMO global sulphur cap for ships’ fuel oil, the International Chamber of Shipping (ICS) has produced – free of charge – some comprehensive guidance on implementation planning, to help ensure compliance across the shipping industry with this regulatory game changer. The free ICS guidance has been prepared for the vast majority of ships that will comply after 1 January 2020 using fuel oils with a sulphur content of 0.50% m/m or less.ICS Secretary General, Guy Platten, explained: “Shipping companies may need to start ordering compliant fuels from as early as the middle of 2019…

U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S. administration efforts to use energy to further its political goals.The United States has become a major crude exporter…

International Bunker Industry Association (IBIA) is continuing its efforts for IMO to adopt guidelines ahead of 2020 that will promote a uniform approach to fuel oil testing and reporting protocol for the verification of compliance with MARPOL Annex VI sulphur limits. Earlier this year, IBIA submitted two papers to the 5th session of the IMO’s Sub-Committee on Pollution Prevention and Response (PPR 5) proposing a way ahead on sulphur testing and compliance verification. Both papers will be forwarded to a PPR intersessional working group (ISWG) taking place at the IMO in July. In PPR 5/12/1, IBIA proposes establishing appropriate guidelines for verifying the sulphur content in fuel oil samples taken from ships’ fuel systems (in-use samples).

The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America…

The IMO’s MEPC 70 proposals for a marine fuels sulfur cap of 0.5% to be in place by 2020 have attracted severe criticism from several major stakeholders in the maritime sector, including the International Bunker Industry Association, the organization that defends the interests of bunker fuel suppliers. The IBIA has stated that several unknowns remain about the proposed limit and has asked whether assumed global capacity will translate into actual marine market supply in 2020: “Will refiners produce suitable fuels, and what will these fuels look like?

With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries, with the Group thus cementing its position of strength in the global market. CEO and sole owner Torben Østergaard-Nielsen says: “It is characteristic of the financial year just concluded that we are continuing to see the fruits of the investments and acquisitions we have undertaken as part of the USTC Group’s growth strategy. Within our three primary divisions…

China will introduce tough controls on ship emissions at three key port areas from January to reduce sulphur dioxide which results in acid rain, causing respiratory difficulties and sometimes premature death, said the Ministry of Transport. If strictly implemented the move would force oil suppliers to increase the supply of cleaner marine fuel, industry experts said. The ministry gave no details on how the new emissions rules would be enforced or penalties for non-compliance. The new rules will apply to merchant ships navigating or anchoring in the waters of Pearl River Delta, Yangtze River Delta and the Bohai Bay rim, with a goal to cut sulphur dioxide by 65 percent by 2020 from the 2015 level, according to a document issued by the Ministry of Transport.

A backlog of tankers around Venezuela has eased in recent days after state-run firm PDVSA paid pending invoices to oil suppliers and ship owners, according to trading sources and Reuters vessel tracking data. Some 12 tankers carrying refined products were still waiting to discharge around PDVSA's ports in Jose, Puerto la Cruz, El Palito, Paraguana and Curacao as of Wednesday, but another six could finally deliver after weeks of delay, the data say. The accumulation started in November when tankers carrying refined products - most of them imported by PDVSA from the U.S. Gulf Coast in the middle of refining problems - arrived along with purchases of African crudes for blending.

"China is our reliable friend," Russian President Vladimir Putin said on Monday in an interview ahead of a conference in Shanghai. Most evaluations of the bilateral relationship begin by reciting the historical border disputes, rift between Mao Zedong and Nikita Khrushchev, opening to China by Richard Nixon, and the perennial problem of reaching an agreement on gas pricing. But these are all essentially backward looking and ignore the growing community of interests between the two countries. The case for a closer bilateral relationship on energy, trade, security and diplomatic issues is compelling. In the energy sphere, the two countries are an almost perfect match: the world's largest net energy exporter and its second-largest net energy importer (2011) with a long land border.

Norfolk, Va. - Amphibious assault ship USS Kearsarge (LHD 3) hosted a Senate subcommittee field hearing on energy March 12, the first time since 1960 that a Senate hearing was held aboard a Navy vessel. Senator  Jeanne Shaheen, chair of the Senate Subcommittee on Water and Power, was joined by Senator Mark Warner from Virginia. Among those who addressed the two Senators were Secretary of the Navy Ray Mabus and Former Secretary of the Navy and retired Senator John Warner. Both testified about the Navy's current strategy to reduce energy consumption and decrease its reliance on foreign oil.

The ‘A’ rated, 150 million GT North of England P&I club has published a third edition of its popular loss-prevention guide ‘Bunker Claims Prevention’, which aims to help shipowners avoid potentially large losses arising from loading unsuitable or insufficient marine fuel oil. The new edition reflects recent changes to international marine fuel specifications introduced in ISO 8217:2010. Head of loss prevention Tony Baker says, ‘The guide tackles bunker quality and quantity issues…

World energy use will grow by a steady two percent a year from now till 2020, and carbon dioxide emissions which contribute to unwanted climate change will rise at about the same rate. Most of the increases will come in developing countries. Oil, gas and coal will continue to dominate the world fuel mix. Countries that import oil and gas will grow increasingly dependent on production from OPEC members in the Middle East. These are some of the main projections to be found in the "reference scenario" of World Energy 2000, the biennial flagship publication of the International Energy Agency. The new Outlook was launched today at the COP 6 Conference in the Dutch capital.

ship operators need to remain vigilant when dealing with high sulphur fuels. sulphur fuels will have on engine lubrication. climbing. says Ouvrier-Buffet. the right alkalinity to match the fuel sulphur level. sulphur levels. burning very high sulphur fuels in other areas. per cent will be permitted by IMO Annex VI. piston crown and the ring pack through the scavenge ports. deposits on the top land and also in the grooves. lub oil stagnation and deposits," explains Ouvrier-Buffet. normally true. to switch to a lub oil with a BN higher than 70.