Oil Tankers News

 

Brent Crude Tops $112. Tanker Owners "Are Having a Ball"

Mar 02, 2022

Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.The oil industry has been gripped by acute risk aversion in the finance and shipping sectors after several nations including the United States sanctioned multiple Russian entities following Russia's invasion of Ukraine…

Petrobras Buys Its First Guyanese Crude Cargo

Jun 22, 2022

Brazilian state-controlled oil company Petrobras has bought its first cargo of Guyanese crude for refining domestically, the company told Reuters, as South America's newest producer expands its market reach.With the start of a second floating production facility in February…

EU Agrees Gradual Russian Oil Embargo, Gives Hungary Exemptions

May 31, 2022

European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on.The…

Oil Protesters Block 10 UK Oil Terminals

Apr 01, 2022

Hundreds of climate change protesters blocked oil terminals across Britain on Friday with some supporters climbing on top of oil tankers as part of their campaign to force the government to end its reliance on fossil fuels.Extinction Rebellion…

ADNOC Weighs IPO of Logistics, Marine Services, and Shipping Unit

Nov 22, 2021

State oil firm Abu Dhabi National Oil Company (ADNOC) is weighing an initial public offering (IPO) of its marine services, logistics and shipping arm next year, two sources familiar with the matter told Reuters.ADNOC Logistics & Services (ADNOC…

Standard Drilling Sells Stake in VLCC Gustavia S

Nov 02, 2021

Norwegian investment company Standard Drilling said Tuesday it had sold its 33.3% ownership in the VLCC Gustavia S, following the updated company strategy. Standard Drilling, which in 2013 sold off its offshore drilling rigs, only to return as offshore vessel owner in 2016…

Some 28% of U.S. Gulf of Mexico Crude Output Offline

Sep 17, 2021

U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production, according to sources and Refinitiv Eikon data, with local prices easing as more shipments moved out of the region…

KKR to Buy Norway's Ocean Yield for $829M

Sep 13, 2021

U.S. investment firm Kohlberg Kravis Roberts (KKR) has agreed to buy Norwegian ship owning company Ocean Yield for 7.2 billion Norwegian crowns ($829 million), the two companies said in a joint statement on Monday.KKR's bid of 41 Norwegian crowns…

Cambodia's Oil Export Ambitions Sink with "Stolen" Tanker Standoff

Aug 27, 2021

When Cambodian officials commemorated the start of the country's first oil project in June by preserving the first drops of production at a high-profile ceremony, they heralded the country's emergence as a budding oil exporter at the heart of Asia…

Samsung Delivers Eagle Pilar Shuttle Tanker to AET

Jan 06, 2021

Oil tanker operator AET has taken delivery of the Eagle Pilar, a new Suezmax Dynamic Positioning (DP2) shuttle tanker. The vessel has been purpose-built for long-term charter to Brazil Shipping I Limited, a Shell subsidiary.The vessel was delivered…

Venezuela's Oil Exports Plunge to 1940's Level Under Tighter U.S. Sanctions

Jan 04, 2021

Pressured by strict U.S. sanctions, Venezuela's oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro…

Louisiana Offshore Oil Port Suspends Tanker Loading Due to Storm

Sep 14, 2020

The Louisiana Offshore Oil Port (LOOP) suspended tanker offloading at its offshore marine terminal on Sunday because of Tropical Storm Sally, the company said in a statement posted on-line.The LOOP is the nation's only oil port able to receive the largest crude oil tankers…

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