Oil Transportation NEWS

Mr. Kerry expressed the view in a discussion with Kristalina Georgieva, the head of the International Monetary Fund as part of the 2021 Spring meetings of the IMF and World Bank. They agreed that a “green and resilient recovery” from the COVID-19 pandemic is possible but economic growth globally is likely to be slow and uneven.

After power, the country's oil sector PSUs would now float an infrastructure investment trust (InvIT) as part of the asset monetisation exercise announced by the government and mobilise resources for fresh capital investment.As part of the exercise, gas transportation utility Gail India is expected to set up the gust InvIT in the oil sector in the next financial year.

The tariff on the transportation of Russian oil via Belarus is set to increase by 3.7% in September this year. The tariff on the transit will be further raised on Jan. 1, 2020, informed Russian Deputy Prime Minister Dmitry Kozak. Belarus has agreed with Russia on this decision to compensate for a drop in flows linked to oil contamination earlier this year.

Peruvian state-backed, Petroperu, has suspended pumping on the 200,000 b/d capacity North Peruvian crude pipeline, owing to an apparent leak. The operations were stopped after crude was detected in a jungle river near the pipeline. The 854 km long pipeline has seen repeated leaks in the past and was reopened for operations recently after a two-year stoppage. Petroperu is looking into inspecting the pipeline for crack detection.