US Vessel Sanctions Target Deliveries of Oil and Gas to Houthis
The U.S. imposed sanctions on Monday on three vessels and their owners for delivering oil and gas products to Yemen's Houthis, as Washington piled pressure on the Iran-backed rebels over their attacks on Red Sea shipping.The sanctions targeted Marshall Islands-registered Zaas Shipping & Trading Co and Great Success Shipping Co, and Mauritius-registered Bagsak Shipping Co and the cargo vessels they used to deliver oil and gas products to the Houthi-controlled port of Ras Isa, the U.S.
US Issues New Sanctions Targeting Iranian oil
The United States on Wednesday issued new sanctions targeting Iran's oil exports, including against a China-based "teapot" oil refinery, as President Donald Trump's administration seeks to ramp up pressure on Tehran."Teapot" is an industry term for small independent oil refiners.The U.S. Treasury Department said in a statement the action would increase pressure on Chinese importers of Iranian oil as Trump seeks to restore his "maximum pressure" campaign on Iran, which includes…
Russian Seaborne Diesel Exports Fell in March, According to Data
Russia's seaborne diesel and gasoil exports fell in March after unplanned maintenance on local refineries, LSEG and market sources data showed.Drone attacks in January and February hit Russian refineries owned by Rosneft at Ryazan, Syzran and Saratov, as well as Lukoil's Volgograd refinery.Traders said the resulting fall in processing led to lower oil products exports in March.In total, diesel and gasoil exports from Russian ports fell to about 3.8 million metric tons, down 5% from February, Reuters calculations based on LSEG and market sources data showed.Turkey and Brazil remained the main i
Caspian Pipeline Consortium Halts Operations at Two Mooring Points
The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's and Russia's oil from the Black Sea, announced on Monday that it had halted operations at two of its terminal's three mooring points (SPMs).CPC pipeline, which ships about 1% of world oil supply and is a key route for Kazakhstan's oil exports, may lose some 50% of the capacity if operating just one SPM, according to traders' estimates.CPC has been in the spotlight since Russia's war in Ukraine: the consortium closed…
Iran Opens Gulf of Oman Oil Terminal to Avoid Hormuz Strait
Iran has opened its first oil terminal in the Gulf of Oman, Iranian President Hassan Rouhani said on Thursday, to allow Tehran to avoid using the Strait of Hormuz shipping route that has been a focus of regional tension for decades."This is a strategic move and an important step for Iran. It will secure the continuation of our oil exports," Rouhani said in a televised speech."Today, the first shipment of 100 tonnes of oil is loaded outside the Strait of Hormuz. This shows the failure of the U.S.
As Iran Eyes Return to Oil Trading, Storage at Sea Rises
Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading…
