Tuesday, May 27, 2025

Transportation

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

June 9, 2020

Reuters Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according to shipping data and industry sources. Washington is considering imposing sanctions on tankers involved in exporting Venezuela’s oil as the

Maduro shakes up PDVSA as Venezuela faces oil emergency- oil and gas 360

US Weighs Blacklisting More Oil Tankers Over Venezuela

June 7, 2020

MarineLink Oil & Gas 360 Publishers Note: We addressed this on Friday’s closing bell. We had indicated to our audience that there was much more to this story. The United States is considering imposing sanctions on dozens of additional foreign oil tankers for trading with Venezuela, U.S. officials told Reuters on Friday, the latest effort to sever what Washington sees

Chevron oil cargo tangled in U.S. sanctions on Venezuela

June 5, 2020

Reuters HOUSTON – A Chevron Corp crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed on Friday. Adamant Maritime Ltd, the owner of very large crude-oil carrier (VLCC) Seahero was sanctioned by the U.S. Department of Treasury on Tuesday for carrying a Venezuelan cargo in February.

SEACOR Marine Announces Agreement to Consolidate SEACOSCO Joint Venture

June 4, 2020

HOUSTON, June 04, 2020 (GLOBE NEWSWIRE) — SEACOR Marine Holdings Inc. (NYSE: SMHI) (the “Company” or “SEACOR Marine”), a leading provider of marine and support transportation services to offshore oil and natural gas and wind farm facilities worldwide, today announced that a wholly-owned subsidiary of the Company entered into a definitive sale and purchase agreement to acquire the remaining 50%

Venezuela to seek more gasoline from Iran

June 2, 2020

Argus Caracas, 2 June (Argus) — Venezuela is seeking to consolidate bilateral ties with fellow US-sanctioned Iran with an eye toward importing more desperately needed gasoline and additives. In an address yesterday, Venezuela’s president Nicolas Maduro said he will visit Tehran once health conditions permit to thank the Iranian government for five shipments that arrived since late May and to

Qatar Petroleum signs record-breaking LNG shipbuilding agreements

June 2, 2020

LNG Industry Qatar Petroleum has entered into three agreements to reserve LNG ship construction capacity in the Republic of Korea to be utilised for Qatar Petroleum’s future LNG carrier fleet requirements, including those for the ongoing expansion projects in the North Field and in the US. Under the agreements, the ‘Big 3’ Korean shipyards – Daewoo Shipbuilding & Marine Engineering

Flex LNG Q1, 2020 Earnings Release

May 28, 2020

Flex LNG Ltd. (“Flex LNG” or the “Company”) today announced its unaudited financial results for the first quarter and three months ended March 31, 2020

Pandemic forces virtual safety checks for oil tankers

May 26, 2020

Reuters LONDON – Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage. Oil tankers require rigorous inspections twice a year to reduce the risk of oil spills or mechanical collapse

As summer driving season kicks off, it’s unclear just how many people will take to the road

May 21, 2020

CNBC This weekend’s Memorial Day holiday could be a test for the gasoline market, depending on whether drivers in reopening states hit the road and then keep on driving. Gasoline demand is about 30% below where it was before states shut down in March. As the economy reopens, analysts are looking at traditional measures of supply and demand, but also

China paying a premium for select crudes illustrates demand’s return

May 14, 2020

WorldOil -For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nation’s favorite grades. In the last few days a Chinese state-owned refiner bought Brazil’s Lula crude for August arrival at a premium of about 50 cents a barrel to Brent on a delivered basis, according to four traders

Sinopec-Zhongke-Refinery-Port -oilandgas360

Sinopec Puts China’s Largest Petrochemical Port into Operation

May 9, 2020

ZHANJIANG, China, May 9, 2020 /PRNewswire/ — Sinopec Corp (HKG: 0386), China’s leading energy and chemical company, has put China’s largest petrochemical port into operation with the successful docking and unloading of the New Renown, Crude Oil Tanker (VLCC) from the Middle East.

Saudi crude buyers cancel at least seven supertankers after freight hike: sources

April 29, 2020

Reuters LONDON – U.S. buyers of Saudi Arabian crude oil cancelled at least seven April-loading tankers after a jump in freight costs, two industry sources said, likely to result in lower-than-expected shipments from the world’s top exporter. The move shows how some buyers are not rushing to take extra oil despite a slide in prices this month to below $16

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