A panel reviewing a $2 billion offer by Abu Dhabi’s national oil company and BP BP.L to acquire a 50% stake in Israeli gas producer NewMed NWMDp.TA has recommended raising the asking price by over 10%, casting doubt over the deal, sources said. The proposed acquisition by Abu Dhabi National Oil Co (ADNOC) and BP was seen as a sign of the strengthening economic links between Israel and the United Arab Emirates since the two countries agreed to normalise ties in 2020. The independent panel of three members was set ...

U.S. natural gas futures eased about 1% on Monday on forecasts for milder weather and less demand next week than previously expected. The price decline comes despite a reduction in output, record exports to Mexico and a rise in the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants even though some plants were reduced for maintenance. Front-month gas futures NGc1 for November delivery on the New York Mercantile Exchange fell 3.3 cents, or 1.1%, to $2.896 per million British thermal units (mmBtu) at 9:58 a.m. EDT ...

Stellamar, the second unit of a series of 12 plug-in hybrid coasters, was launched with great excitement on October 1st at Chowgule Shipyard. “I would like to thank all parties involved in this successful project. It is great to be back here at Chowgule Shipyard and witness the great progress with the construction of these state-of-the-art vessels. Our customers’ need for a modern and sustainable fleet is increasing day by day and we are happy that we can answer that demand shortly”, says Commercial Director Frida Rowland. Currently, the shipyard ...

Cargo handling fuel surcharge (Nov 2023) 02 Oct 2023, Ras Al Khaimah, United Arab Emirates From 1 November, the following surcharge will be invoiced for each Metric Ton / Freight Ton loaded or discharged at RAK Ports. Read More » Cargo operations at terminal 02 Oct 2023, Fos, France There will be no cargo operations at the Fos crude oil terminal until 8 October. Read More » Modifications to rules governing Transit Reservation System 02 Oct 2023, Panama Canal, Panama Effective November 1, 2023, a new booking condition will be ...

SAAM Towage, the leading provider of towage services in the Americas, received two new vessels in Brazil, giving it one of the most competitive and modern fleets in the country. The new vessels are the last two of the 21 tugs acquired from Starnav this year. This brings SAAM Towage’s fleet in Brazil to 65 vessels operating at 19 ports. Built by Detroit, a Chilean shipyard founded in 1990, these tugs feature azimuth propellers powered by a mechanical hybrid system that allows them to connect them at will and sail ...

Much of Moldova will no longer buy gas from Russian energy giant Gazprom GAZP.MM, Moldovan Energy Minister Victor Parlicov said on Monday, referring to parts of the country that capital Chisinau controlled and not breakaway areas. His comments suggested the country, one of Europe’s poorest, had strengthened its independence from Russian gas. Chisinau-controlled Moldova, which comprises much of the country’s territory and population, stopped buying gas from Gazprom in December 2022. It wasn’t clear at the time how permanent the decision would be. Parlicov said Moldova had been able to ...

Russian oil product exports from the Black Sea port of Tuapse in October are set to fall by 12.9% month on month on a daily basis to 1.142 million metric tonnes from 1.269 million metric tonnes scheduled for September, two traders said on Monday. Russia temporarily banned exports of gasoline and diesel from Sept. 21, but made an exception for supplies of high-sulphur gasoil and bunker fuel. Source: Reuters (Reporting by Reuters,Editing by Kirsten Donovan)

India’s Bharat Petroleum Corp BPCL.NS has offered its first spot gasoil cargo, via a sales tender, in more than a year, three industry sources familiar with the matter said on Monday. BPCL is seeking to sell at least 40,000 metric tons of 10ppm sulphur gasoil loading Oct. 26-27 from Kochi, according to a document seen by Reuters. The tender closes on Oct. 3, with same-day validity. The refiner had previously offered contractual 10ppm sulphur gasoil cargoes in April 2022, for delivery between July 2022 and January this year, Reuters records ...

COP28 president Sultan al-Jaber said on Monday that more than 20 oil and gas companies were rallying around his calls to curb carbon emissions ahead of a United Nations summit on climate change. Jaber, who is also head of United Arab Emirates oil giant ADNOC, has this year urged the energy industry to join the fight against climate change. He was a controversial pick to lead COP28, which begins next month, because his country is an OPEC member and a major oil exporter. “We need a system-wide holistic transformation of ...

Middle East crude benchmarks Oman and Murban jumped on the first trading day of October, supported by expectations of tight supplies and stronger appetite for regional crude. Spot premium for Murban reached $5.31 a barrel over the Dubai quotes on Monday, a level last seen in late February. While Oman’s premium to Dubai rose to $3.57 a barrel, an 11-month peak. The price increases came as the market expected that OPEC+ is unlikely to tweak its oil output policy when a panel meets later this week. The spread between Brent ...

The United Arab Emirates’ energy minister Suhail al-Mazrouei told the ADIPEC energy industry event in Abu Dhabi on Monday that OPEC+ never targets a certain oil price, when asked about the risk of higher prices for the health of the global economy. He said that as a producer group, OPEC+ cares “that the price is right for consumers but right for the consumers for a very limited time only is short-sighted,” adding that more investment in needed in oil and gas. Source: Reuters (Reporting by Maha El Dahan, Yousef Saba ...

Turkey will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Turkey’s Energy Minister Alparslan Bayraktar said on Monday. “Within this week, we will start operating the Iraq-Turkey pipeline after resuming operations. It will be able to supply half a million barrels, almost, to global oil markets,” Bayraktar said during the ADIPEC conference in Abu Dhabi. Turkey has been a reliable transit route for oil and gas, he added. Turkey halted flows on Iraq’s northern oil export route about six ...

The United Nations Conference on Trade and Development (UNCTAD) has called for a “just and equitable transition” to a decarbonised shipping industry in its Review of Maritime Transport 2023 launched ahead of World Maritime Day (28 September). The agency highlights the pressing need for cleaner fuels, digital solutions and an equitable transition to combat continued carbon emissions and regulatory uncertainty in the shipping industry, a report in WAM, said. The shipping industry accounts for over 80% of the world’s trade volume and nearly 3% of global greenhouse gas emissions, with ...

With the completion of shore power installation on Volendam, Holland America Line’s entire fleet is now shore power-capable. Volendam completed installation in Vancouver, British Columbia, and connected to the port’s shoreside electricity for the first full day on Sept. 27. The cruise line began converting ships to have shore power connectivity in 2006 with its four Vista Class ships; its Pinnacle Class ships (Koningsdam, Nieuw Statendam and Rotterdam) all were built with shore power systems installed, and the Signature Class ships (Eurodam and Nieuw Amsterdam) were launched with a partial ...

Record volumes of refined products were shipped from Singapore to Mexico in the third quarter on lower U.S. exports to the Latin American country caused by peak summer demand and slow shipping through the Panama Canal, industry sources and analysts say. The trend could continue into the fourth quarter, especially for gasoline, drawing down Singapore stockpiles and providing a floor for Asian refiners’ margins, the sources added. Singapore’s exports of diesel, gasoline and jet fuel to Mexico were at 178,000-208,000 metric tons on average per month between July and September, ...