Tag: oil

On 28th May, Nigerian released a Norwegian-seized vessel, MT Heroic Idun, which caught because it attempted to steal Nigeria’s crude oil in August 2022.

As the Nautical Institute reports, a tanker loaded with condensate oil was underway in darkness and good visibility at about 10 knots. It was sailing in a coastal area with many fishing vessels in the vicinity.

China Merchants Energy Shipping (CMES) and Dalian Shipbuilding signed deal for the construction of two liquefied gas (LNG) carriers and two Aframax crude oil tankers. 

The Norwegian Supreme Court ruled yesterday that the Svalbard Treaty does not grant the right to catch snow crab on the continental shelf off the coast of Svalbard.

Petroperú company stated in a press conference with members of the Association of Foreign Press in Peru that it has all of the necessary permits for the gradual and progressive start-up period, between March and May, of the new Talara Refinery. 

According to local news, Albanian police in the coastal town of Durres along with other law enforcement agencies blocked a Liberian-registered ship carrying suspected Russian oil in an operation that ended with the arrest of the 22-strong crew.

A 'shadow fleet,' or 'dark fleet,' has continued transporting Russian oil despite sanctions, explains the World Economic Forum (WEF) in a recent article. The oil revenue it provides helps fund Russia's military aggression.

The European Commission is considering setting a $100 per barrel price cap on premium Russian oil products like diesel and a $45 per barrel cap on discounted products like fuel oil.

G7's price cap of $60-a-barrel on Russian seaborne oil came into force on December 5, as the West tries to limit Russia's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.

European Union tentatively agreed on a $60 a barrel price cap on Russian seaborne oil, along with an adjustment mechanism to keep the cap at 5% below the market price.