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Oil tanker blocked from delivering oil to Swedish refinery
Sept. 11, 2020
Source: Reuters

Oil tanker blocked from delivering oil to Swedish refinery

Greenpeace’s flagship Rainbow Warrior blocked a tanker on Thursday from delivering crude oil from Norway to Sweden’s Lysekil refinery in a protest against plans to expand it. According to Greenpeace, the expansion would result in increasing carbon dioxide emissions by up to 1 million tonnes per year, making it the largest source of Carbon dioxide emissions in the country.

Mitsui OSK vows $9.42 million in aid for Mauritius oil cleanup
Sept. 11, 2020
Source: Reuters

Mitsui OSK vows $9.42 million in aid for Mauritius oil cleanup

Japan’s Nagashiki Shipping, chartered by Mitsui OSK ran aground on a reef in Mauritius on July 25 and later began leaking oil, causing a marine ecological disaster around the Indian Ocean Island. Japan’s Mitsui OSK Lines Ltd stood to spend about $9.42 million on measures to help Mauritius for the clean-up of the island’s mangrove forests. In addition, the shipping company plans to provide further support to local fishing and tourism industries.

Hungary signs it's first gas deal in the west
Sept. 5, 2020
Source: Reuters

Hungary signs it's first gas deal in the west

Hungary inks a deal to buy 250 million cubic metres of liquefied natural gas per year from Royal Dutch Shell for six years. It’s Hungary’s first long-term deal with a western company. It will secure 10% of it’s supply from the west. Before, Hungry has relied mostly on Russian gas and has never had a long-term supply agreement with any supplier other than Russia’s Gazprom.

Hermitage Offshore Files for Chapter 11 Bankruptcy
Aug. 14, 2020

Hermitage Offshore Files for Chapter 11 Bankruptcy

Hermitage Offshore Services, alongside 28 of its vessel-owning subsidiaries, have filed for Chapter 11 bankruptcy. The step was taken due to the collapse in global oil prices as a result of the Covid-19 pandemic and its impact on on the company and it does not expect business operations and relationships with its customers and vendors to get affected while it works with its lenders through this process.

Israel signs subsea gas pipeline deal with EU
July 20, 2020
Source: Reuters

Israel signs subsea gas pipeline deal with EU

The Israeli government on Sunday approved an agreement with European countries for the construction of a subsea pipeline that would supply Europe with natural gas from the eastern Mediterranean. The Eastmed pipeline, is meant to transport gas from offshore Israel and Cyprus to Greece and on to Italy. The pipeline is planned to initially carry 10 billion cubic meters of gas/year with the possibility of eventually doubling the capacity.

3 Seas Energy inks historic deal to provide US oil to Belarus
July 17, 2020
Source: World Oil

3 Seas Energy inks historic deal to provide US oil to Belarus

A joint venture between Getka and Unimot, 3 Seas Energy landed a historic contract to provide Belarus with its new blended oil variety, White Eagle Blend. 3 Seas Energy produced the blend exclusively at the Phillips 66 Beaumont Terminal and it is being traded from the facility, because of the advantage from the area and infrastructure.

Maersk Supply Service sells a pair of AHTS support vessels
June 18, 2020

Maersk Supply Service sells a pair of AHTS support vessels

Maersk Supply Service announced that it has sold two of its Anchor Handler Tug Supply Vessels (AHTS). The divestitures of the Maersk Advancer and Maersk Asserter vessels were made due to the current market situation and the global oversupply of offshore supply vessels, Maersk Supply Service outlined. The vessels have been sold to an “international buyer” and will be modified for use in a non-competing industry, according to the company.

Brazil's Petrobras Will Not Hire Ships That Operated in Venezuela
June 15, 2020
Source: Reuters

Brazil's Petrobras Will Not Hire Ships That Operated in Venezuela

Brazil’s Petroleo Brasileiro SA has told shippers it will not hire any tankers that have visited Venezuela in the past 12 months, the state-controlled oil company said on Friday, signalling adherence to U.S. sanctions on the Latin American nation. Washington has said it could add to its sanctions list, a move that could disrupt sea-borne trade by sharply raising tanker rates.

Trans Mountain pipeline shut down after oil spill at B.C. pump station
June 15, 2020
Source: Reuters

Trans Mountain pipeline shut down after oil spill at B.C. pump station

The Canadian government-owned Trans Mountain pipeline has been shut down since early Saturday following an oil spill at a pump station in British Columbia. The pipeline crew are responding to a release at its Sumas Pump Station in Abbotsford, British Columbia, after an alarm was received early in the morning, Trans Mountain Corp said in a statement. The spill has been contained and cleanup is underway, the company said.

Russia's Transneft says no plans for changes to oil transportation tariff
June 12, 2020
Source: Reuters

Russia's Transneft says no plans for changes to oil transportation tariff

Russian oil pipeline monopoly, Transneft yesterday reported a 13% jump in the first-quarter net earnings Y/Y to 56.7 billion roubles ($822 million). The firm climbed on the back of higher sales to register a 1.3% jump in net revenue to 263.3 billion roubles. Transneft has also paid oil suppliers a whopping sum of $71 million for the April oil contamination.

U.S. Plans Oil Tanker Sanctions to Cut Iran-Venezuela Trade
June 10, 2020

U.S. Plans Oil Tanker Sanctions to Cut Iran-Venezuela Trade

The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.The sanctions would be imposed through the Treasury Department and are intended to avoid a U.S. military confrontation with the countries, the person said on the condition of anonymity.

Saudi Arabia's oil export revenue falls 21.9%
June 8, 2020
Source: Reuters

Saudi Arabia's oil export revenue falls 21.9%

Saudi Arabia's export revenue was Riyal 197.84 billion ($52.69 billion) in Q1 2020, down 20.7% from the same quarter in 2019, mainly due to a 21.9% decline in oil export revenue, the kingdom's General Authority for Statistics announced June 7. Total oil export revenue for Q1 was Riyal 149.95 billion, down from Riyal 192.03 billion for the same quarter the previous year.

Qatar Petroleum Signs World's Largest LNG Shipbuilding Order
June 2, 2020
Source: World Oil

Qatar Petroleum Signs World's Largest LNG Shipbuilding Order

Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas. The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. The three Korea-based firms will reserve a “major portion” of their LNG ship-construction capacity for QP through 2027.

Baltic's construction will start soon
May 4, 2020

Baltic's construction will start soon

Polish President Andrzej Duda has informed that the construction of Baltic, a new pipeline, will commence soon. This major gas pipeline from Norway will mark the independence of Poland from Russian gas. Its capacity is said to be 10 billion cubic meters of gas per year. Italian oilfield services major, Saipem who will take care of pipeline's construction said that the contract is worth $307 million.

Chesapeake slammed with $48.8m lawsuit for contract breach
April 15, 2020
Source: Reuters

Chesapeake slammed with $48.8m lawsuit for contract breach

Oil and gas producer, Chesapeake Energy Corp has been slapped with a $48.8 million lawsuit by Pipeline operator Glass Mountain LLC for allegedly defaulting on an oil transportation contract. Shale gas pioneer, Chesapeake had earlier borrowed aggressively to buy and drill properties and started making losses as gas prices toppled. A Chesapeake spokesman didn't respond to requests for comment.

Ecuador struggles to contain crude oil spill
April 10, 2020
Source: Reuters

Ecuador struggles to contain crude oil spill

A crude oil spill due to pipeline bursting prompted by a landslide this week has Ecuador sweating as it tries to limit the environmental impact in the country’s Amazon region. A statement released by the Ecuadorean Energy Ministry said that it had put barriers around the spill in an area inhabited by indigenous communities and near a drinking water source for the city of El Coca.

Saudi decides to cut crude export to China in March
Feb. 28, 2020
Source: Reuters

Saudi decides to cut crude export to China in March

According to the sources, Saudi Arabia has planned to cut crude supplies to China by at least 500,000 bpd. This decision has been taking keeping in the slower refinery demand after the coronavirus outbreak. China is the world's largest crude importer and takes 1.8 million bpd to 2 million bpd of Saudi crude. Due to slower demand, the refineries in China have also cut their crude processing rate in February.

Petronet to sign $2.5 bln gas deal
Feb. 3, 2020

Petronet to sign $2.5 bln gas deal

According to the sources, Petronet LNG and Tellurian Inc, US, are planning to sign a $2.5 billion deal. The deal will be finalized during US President Trump's maiden visit to New Delhi later this month. Petronet will invest for five years in the Driftwood LNG export project in Louisiana. A preliminary non-binding deal was signed by the two companies in September last year.

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