(BOE Report) – CALGARY – A new oilsands pipeline to the northern B.C. coast is a non-starter as long as oil tankers are forbidden there, but experts say a removal of the federal ban would only lift one of many obstacles deterring the private sector from such a project. Media reports say the federal and Alberta governments are poised to announce
(Oil Price) – Iran seized on Friday an oil tanker en route to Singapore after it passed the critical Strait of Hormuz in the Middle East in the first major escalation of the tensions in the region since the Iran-Israel war in June. The Marshall Islands-flagged oil tanker Talara was seized by Iranian forces in the Gulf of Oman after having
(Oil Price) – Nearly a third of Russia’s current seaborne oil export potential is now stuck in tankers as the U.S. sanctions upend crude flows and Russia’s top buyers, China and India, are still struggling to assess the implications of the sanctions, according to JPMorgan. “Russia’s oil exports are entering a new phase of disruption as sanctions targeting Rosneft and Lukoil
(BOE Report) – The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend
(Investing) – Brent crude oil prices could hit $110 a barrel if the Strait of Hormuz is blocked, Goldman Sachs analysts have forecast, while HSBC analysts see prices topping above $80. Prices for Brent could average around $95 in the fourth quarter of 2025, Goldman Sachs said in a note dated June 22. Their assumptions included oil flows through the critical waterway halving for a
(World Oil) – A week since Israel and Iran started to exchange missile barrages, oil tanker transits through the critical Strait of Hormuz have remained largely steady. A seven-day rolling average for oil tankers above 10,000 deadweight tons that sailed through the Strait — the passageway for the Persian Gulf’s energy supplies to the world — was approximately 42-to-45, according
(Investing) – DUBAI/COPENHAGEN – Two oil tankers collided and caught fire on Tuesday near the Strait of Hormuz, where electronic interference has surged during conflict between Iran and Israel, but there were no injuries to crew or spillage reported. With Iran and Israel firing missiles at each other since Friday, interference has disrupted navigation systems near the vital waterway between Iran
(BOE Report) – Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions. Independent refiners in China are the main buyers of seaborne oil shipments from countries sanctioned by
(Investing)– Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries. The United States imposed sanctions last month that targeted 180 Russian tankers while Kyiv has stepped up drone attacks to improve its bargaining position amid expectations
Oil Price Back in March, S&P Global reported that a record 24 cargoes carrying nearly 1.6 million metric tons of U.S. LNG had reached Asia via the Cape of Good Hope in the first three months of 2024, with exporters choosing the much longer route and shunning the Panama and Suez canals due to various challenges. S&P reported that only 14 cargoes
Yahoo Finance HOUSTON – As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia. In April, Enterprise Products Partners’ SPOT became the first project to receive a license from the U.S. maritime regulator for a deepwater port that could
Oil Price Baltimore Port’s coal exports are likely to be blocked for weeks after the collapse of the Francis Scott Key Bridge on Tuesday, according to a Pennsylvania coal trading firm. The bridge collapsed early on Tuesday after a cargo ship lost power and slammed into the construction, which crumbled within seconds and will disrupt navigation near the Baltimore port, which is
