PDVSA to Reopen Damaged Port Dock by Month's End
PDVSA expects to reopen the south dock of Venezuela's main oil port Jose by the end of September, easing strains on crude exports delayed due to a tanker collision last month, according to internal trade documents from the state-run oil firm seen by Reuters.Last week, PDVSA began diverting tankers to Puerto la Cruz for loading, but the South American country's crude exports have remained slow in recent weeks as few customers have accepted the 500,000-barrel-per-cargo maximum neighboring terminals can handle.Besides Puerto la Cruz…
Rosneft: South China Sea Drilling is Within Vietnam Waters
Drilling in the South China Sea by Rosneft is within Vietnamese territorial waters, the Russian state oil firm said in a statement on Thursday, two days after its Vietnamese subsidiary began drilling in Vietnamese waters claimed by China.Rosneft's local unit, Rosneft Vietnam BV, is concerned that its recent drilling in an area of the South China Sea that falls within China's "nine-dash line" could upset Beijing, two sources with direct knowledge of the situation told Reuters on Wednesday."Offshore license areas of Rosneft on the South China Sea are situated within the territorial waters of Vie
Finland: A Hot-Bed of ICEBREAKER Technology
Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…
Venezuela's Port Woes Stall Rosneft Liftings
The closing of a dock at Venezuela's main oil export port could delay as much as 5 million barrels in crude deliveries to Russian state-oil firm Rosneft, a source said on Wednesday and documents showed.A tanker collision at the weekend forced PDVSA to halt operations at Jose port's South dock, curtailing planned shipments mainly for Rosneft, and for U.S. firms Valero Energy and Chevron Corp until damages can be repaired.Reporting by Marianna Parraga
PDVSA to Divert Tankers to Nearby Port after Collision
Venezuela's state-run PDVSA is organizing a contingency plan to address its latest oil-export problem following a minor accident last week at the country's main crude terminal, two sources from the firm told Reuters on Friday.A tanker collision that damaged Jose port's South dock and forced its closure has added to delays in loading crude for export, especially to customers such as Russia's Rosneft and U.S.-based Valero Energy Corp and Chevron Corp.Oil tankers that were assigned…
Rosneft Orders Two Oil Tankers from Zvezda Shipyard
Russian oil company Rosneft announced it has ordered two Aframax crude oil tankers to be built at Russia's far eastern Zvezda shipyard for scheduled delivery in 2022.The Russian-flagged vessels will have a deadweight of 114,000 metric tons and a 1A/1B ice class, which makes them able to operate in icy conditions year round, including in sub-Arctic seas and Russian ports of the Baltic region, said Russian shipping company PAO Sovcomflot (SCF Group).According to the documents, Arctic Leasing will place orders for construction of the two Aframax tankers at the shipyard…
Shipbuilding: Sovcomflot Orders Two LNG-Fueled Tankers
Though the tanker market has been a global maritime laggard in 2018, with overcapacity cited as the chief culprit, apparently it could not dissuade PAO Sovcomflot (SCF Group) from inking a deal wih Rosneft, Zvezda Shipbuilding Complex and VEB Group for a pair of Aframax tankers. VEB-Leasing will finance the construction, and Rosneft signed a 20-year time-charter for the pair.The 114,000 dwt ships will be LNG fueled and 1A/1B ice class, able to operate year-round in areas with difficult ice conditions, including sub-Arctic seas and Russian ports of the Baltic regio“We welcome the plans of the Russian shipbuilders, from Zvezda Shipbuilding Complex…
Zvezda Shipyard to Build an Advanced Ice Class Tanker for Rosneft
AO Rosnefteflot, a subsidiary of Rosneft, and Zvezda shipyard signed a contract during the St. Petersburg International Economic Forum for the construction of a shuttle tanker Arc6 with a deadweight of 69,000 tons. The contract provides for an option to build a second similar vessel. At the same time, a 20-year charter agreement was signed between Rosneft and Rosnefteflot. The tanker will be used for safe export of oil and petroleum products from Trebsa and Titova fields. Arc6…
Rosneft and GNPC Arrange LNG Supply to Ghana
Rosneft and the Ghana National Petroleum Corporation (GNPC) signed the package of documents assuming the delivery to the port of Tema (Ghana) over 12 years of the liquefied natural gas (LNG) in the volume of ca. 1.7 mmtpa (or 250 mln standard cubic feet per day), its regasification using the processing capacities of Tema terminal in order to subsequently supply the natural gas to GNPC. The obligations of the parties arising from the above documents will come into effect once they are approved by the Boards of Directors of the parties.
Balancing Efficiency & Security as Maritime Goes Digital
Hand in hand with the digital craze in maritime is the caution of cyber attacks. We live and operate in a complex society. That society would be impossible without modern computers and other information technologies Those technologies have largely been developed piecemeal to address particular issues, and for the most part they have generally achieved their particular goals. Maximum efficiency is gained when multiple technologies are joined to coordinate their work. Computers get smaller and faster, with ever-growing memory. Joining computers together allowed for creation of the internet.
Zvezda, Hyundai to Build Russian Aframax Tankers
A set of agreements between PAO Sovcomflot (SCF Group), Rosneft, the State Transport Leasing Company (STLC) and Zvezda Shipbuilding Complex will see the construction of five Aframax tankers for the export of crude oil and oil products from 2021. The 114,000 dwt vessels will be built by Zvezda jointly with technology partner Hyundai Heavy Industries (Republic of Korea). The tankers are purpose-designed to use liquefied natural gas (LNG) as their primary fuel and will have an ice class of 1A/1B…
Rosneft Orders Ten More Arctic Shuttle Tankers at Zvezda
Rosnefteflot, a subsidiary of Russia’s petroleum company Rosneft, has inked agreements with compatriot Zvezda Shipbuilding Complex for construction of ten Arctic shuttle tankers. At the same time Rosnefteflot and Taimyrneftegaz signed an agreement for 20 year time chartering of these tankers. Each tankers will be with 42,000 t deadweight each. ARC7 ice class tankers are designed for operations in the conditions with ice thickness up to 1.8 m and ambient temperature of down to 45 degrees.
Rosneft, NIOC Ink Cooperation Deal
Russian oil producer Rosneft and the National Iranian Oil Company (NIOC) have agreed an outline deal to work together on a number of “strategic” projects in Iran together worth up to $30 billion, Reuters reported quoting Rosneft’s head Igor Sechin as saying. The potential collaboration with Iran would further strengthen Rosneft’s position in the Middle East, the company having already secured a number of deals in the region, including the acquisition of a majority stake in Iraqi Kurdistan’s main oil pipeline.
Sistema Welcomes Efforts to Resolve Conflict with Rosneft
Russia's Sistema conglomerate said on Thursday it welcomes all efforts to resolve its legal conflict with Rosneft after the oil major filed a new, $2.2 billion, lawsuit seeking damages. "Sistema welcomes any and all efforts for the settlement of the conflict on conditions that would suit all sides," a spokesman for Sistema said. The lawsuit relates to the 2009-2014 dividends paid by Rosneft-controlled oil producer Bashneft, formerly owned by Sistema. Reporting by Anastasia Teterevleva; writing by Vladimir Soldatkin
Rosneft, PDVSA Sign New Oil and Gas Agreements
President of the Republic, Nicolás Maduro, held a meeting with CEO of Rosneft, Igor Sechin, to bolster the joint work between Venezuela and Russia and sign new agreements on gas exploration and exploitation. People’s Minister of Petroleum and President of Petróleos de Venezuela, S.A., Manuel Quevedo, along with PDVSA Executive Vice President and Vice President of Trade and Supply, Ysmel Serrano; People’s Minister of Finance, Simón Zerpa; Sectoral Vice President of Economy, Wilmer Castro Soteldo, and a high level delegation of Rosneft also participated in the meeting.
Norway: We Must Prepare for Arctic Oil Race with Russia
Norway must identify potential offshore oil and gas reserves near its northern maritime border with Russia to better protect its economic interest in the remote Arctic region, energy minister Terje Soeviknes said on Wednesday. The two countries agreed in 2010 to split previously disputed areas of the Barents Sea between them, allowing each to exploit resources hidden beneath the seabed. An increase in drilling activity on the Russian side of the border should lead Norway to push its own agenda, the minister said. "We need to start the discussion about what to do in the far north.
Eni Halts Drilling in Rosneft-led Offshore Project Over US Sanctions
Italian oil and gas group Eni has suspended drilling in the Black Sea in a Rosneft-led offshore project because of U.S. sanctions, the company's chairwoman said on Wednesday. "We asked authorisation to the U.S. and so we obtained the authorisation from the U.S. so we started to drill this well, but then now we have to stop because… sanctions are hitting this," Emma Marcegaglia said at the World Economic Forum in Davos. Reporting by Denis Pinchuk; Writing by Gabrielle Tétrault-Farber
India's Oil Imports Reach Record High in January
India imported a record 4.93 million barrels of oil per day (bpd) in January to feed its expanded refining capacity and meet rising demand, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. The world's third-biggest oil importer shipped in 13.6 percent more oil in January than a year earlier and about 12.5 percent more than the previous month, the data showed. Imports in January were high as state-run refiners, which operate two-third of India's nearly 5 million bpd capacity…
Exxon Quits Some Rosneft Joint Ventures Citing Sanctions
Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon, which had opposed the sanctions over Russia's invasion of Crimea and argued they unfairly penalized U.S. companies while allowing foreign energy rivals to operate in the country, the world's largest oil producer. Yet the sanctions…
Arctic: ExxonMobil Exits, Rosneft Goes Ahead
Russian state oil company Rosneft will continue geological explorations in the Arctic offshore zone after ExxonMobil quits the joint projects, reports TASS. The report qouted Natural Resources Minister Sergey Donskoy saying that the Arctic licenses will remain with Rosneft and the company "plans to continue to operate there". Exxon Mobil decided to withdraw from the joint projects with Rosneft in late 2017 after Washington issued a legal act expanding against Russia. According to the document, in 2013 and 2014 Exxon Mobil and Rosneft created various entities for operations in oil exploration.
Eni has no plans to pull out of Rosneft deal after sanctions
Italian oil major Eni has no plans to pull out of its joint venture with Russia's Rosneft despite escalating sanctions against Russia, the head of Eni said on Wednesday."We certainly have not pulled out, we're working with them," CEO Claudio Descalzi said on the sidelines of a conference.Eni, one of Europe's biggest importers of Russian gas, extended a cooperation agreement with Rosneft last year to explore the Russian Barents Sea and the Black Sea, and to consider further opportunities together.But after the United States imposed major new sanctions against Russia earlier this month, speculat
Transneft Rejects Summa's Proposal to Complete Port Deal
Russian oil pipeline monopoly Transneft has rejected a proposal from its rival Summa Group to complete a deal to buy a Novorossiysk Commercial Sea Port (NCSP), a Transneft spokesman said on Monday.If the deal goes ahead it will allow Transneft to take control of Russia's largest port operator. But Transneft said earlier this month it had suspended talks on the deal after the authorities arrested the co-owner of Summa, Ziyavudin Magomedov, on charges of embezzling more than $35 million.Magomedov denied the charges at a pre-trial hearing…
Glencore-QIA Halts Selling Rosneft Stake to China Energy Company
A consortium of Qatar Investment Authority (QIA) and Anglo–Swiss mining company Glencore has scrapped a deal to sell 14.16% stake in Rosneft to CEFC China Energy Company. "Glencore refers to the announcement on 16 October 2017 concerning the Consortium’s agreement to sell to CEFC China Energy Company Limited a 14.16% stake in Rosneft. The Consortium has today sent a notice to CEFC to terminate that agreement in accordance with its terms and accordingly that proposed sale will no longer proceed," said a press release from the company.