Rystad Energy estimated that the extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), while OPEC+ countries are able to add next month 2 million bpd, according to their storage, spare capacity and ramp up capabilities.
The UAE has banned the Panamanian-flagged container ship MSC Joanna from operating in its waters and ports for one year over violation of the recently implemented fuel carriage ban.
According to a recent statement, Al Yasat, ADNOC’s joint venture with China’s CNPC, produced its first oil from the Bu Haseer 2 Offshore Platform in Abu Dhabi. This is the second production platform on the Bu Haseer field which is expected to deliver 15,000 bpd and contribute to the target of achieving 4 million bpd of oil production capacity by the end of 2020.
UAE’s oil and gas company ADNOC is on track to increase its crude oil production capacity to 4 million barrels per day by the end of this year. In fact, Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO highlighted the impact of global economic trends on energy demand and outlined the UAE and ADNOC’s response to the fast-evolving energy landscape, saying that “This economic outlook means both the short and long-term demand for energy remains robust. Over the next two decades, we will see growth of at least 25% in energy demand. This is a rate of increase that no single source can satisfy and presents the key challenge of how to produce more energy with fewer emissions.”
Skuld Club informed about an advice by Lloyd’s Register, warning about a number of fuel oil samples from deliveries in Fujairah which have been found to have an elevated Total Acid Number (TAN). The tested TAN values were all significantly over the average for the port
The first IMO 2020 compliant bunker load of low sulphur fuel oil (LSFO) was delivered by oil trader and bunker provider GP Global at Fujairah port in the United Arab Emirates. The 6,000-tonne bunker barge was delivered at the port of Fujairah and is expected to serve this as well as other ports nearby, further helping the UAE to meet the IMO regulation.
The Abu Dhabi National Oil Company (ADNOC) has signed a partnership framework agreement and a JV agreement worth up to $12 billion with China’s Wanhua Chemical Group. The deal foresees collaboration in the downstream sector, according to ADNOC.
UAE-based ADNOC Logistics & Services signed a Memorandum of Understanding (MoU) with China’s Wanhua Petrochemical, to explore the creation of a joint venture to pave the way for the transport of greater gas volumes in line with market demand.
Six samples of ship fuel in Singapore had caused severe sludging at centrifuges, clogged pipelines, and overwhelmed fuel filters. The first problem sample in Asia was found on April 13 in Port Kelang in Malaysia. Now, because shippers want to avoid loading up the contaminated fuel Singapore, UAE inquiries at the Fujairah oil hub for marine fuel have increased.
- Ship Recycling
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