2024.08.27
- SLOW
- 2024년 9월 11일
- 3분 분량
[SLOW] https://slowspace.io/ _ Sounion
Greek Oil Tanker Ablaze in Red Sea Following Houthi Attack, Environmental Fears Rise
A Greek-flagged oil tanker, the Sounion, caught fire in the Red Sea on August 23 after being attacked by Yemen's Houthi rebels. The tanker, carrying 150,000 tonnes of crude oil, poses a significant environmental threat, although no oil spill has been observed yet. The EU's Red Sea naval mission, Aspides, reported flames on multiple parts of the ship's main deck. The Houthi group, aligned with Iran, has been attacking vessels as part of their support for Palestinians in the Israel-Hamas conflict. The Sounion is the third Delta Tankers-operated ship to be targeted this month.
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[SLOW] Trade Flow _ Libya seaborne crude export by destination countries
Libya's Eastern Government Orders Shutdown of Major Oilfields Amid Central Bank Leadership Crisis
Libya's eastern government announced plans to shut down all oilfields in the region, halting production and exports, due to escalating tensions over the leadership of the Central Bank of Libya (CBL). This decision could significantly impact Libya's overall oil production, as most of its oilfields are located in the east, under the control of Khalifa Haftar's Libyan National Army. The Waha Oil Company and Sirte Oil Company, subsidiaries of the National Oil Corporation (NOC), indicated they would gradually reduce output, with warnings of a complete halt. This move comes amidst a power struggle between Libya's eastern and western factions, further destabilizing the country's oil-dependent economy. While the Tripoli-based Government of National Unity has not confirmed the closures, ongoing tensions have already led to disruptions, including force majeure at the Sharara oilfield.
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[SLOW] EIA - Crude Oil Outlook _ Nigeria oil production
Nigeria's Q2 Economic Growth Accelerates to 3.19% Amid Higher Oil Production
Nigeria's economy grew by 3.19% in the second quarter of 2023, up from 2.98% in the previous quarter, driven by increased crude oil production. This growth offset the negative impact of the naira's devaluation on non-oil sectors. Economic reforms under President Bola Tinubu have boosted investment, with the government targeting 3.8% growth for the year. While oil output rose to 1.41 million barrels per day, growth in non-oil sectors slowed. Despite optimism from the IMF, there are concerns that economic expansion may slow in the second half of the year.
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Shell to Temporarily Shut Down Portions of Zydeco Pipeline, Affecting Light Crude Supply to Louisiana
Shell plans to shut down portions of its Zydeco pipeline system for maintenance from September 24 for three to four days, affecting the flow of light crude oil to Louisiana. The Zydeco pipeline, stretching over 350 miles with a capacity of 375,000 barrels per day, transports crude from Houston, Texas, to St. James, Louisiana, easing transportation bottlenecks from major oil regions like Eagle Ford, Permian, and Bakken. This shutdown will reduce the supply of light crude, including Bakken and West Texas Intermediate, to Louisiana, impacting the Light Louisiana Sweet blend. Currently, Light Louisiana Sweet's premium to WTI crude remains narrow.
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[SLOW] EIA - Crude Oil Outlook _ China oil production
PetroChina Achieves Record Earnings in H1 2024 Amid Strong Drilling and Higher Oil Prices
PetroChina Co. reported record earnings of 88.61 billion yuan ($12.45 billion) for the first half of the year, driven by strong drilling output and higher oil prices. This marks an increase from 85.27 billion yuan in the same period last year. The company's output rose to 905.5 million barrels of oil equivalent, as China pushed its state-owned oil firms to increase production to enhance energy security. The rise in global oil prices, with Brent averaging over $83 per barrel, bolstered these investments. However, the gains from upstream activities helped offset weaker demand in China's fuel market, particularly in crude refining, which suffered significant losses due to the country's economic challenges and increased electrification of transportation.
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World's First Ammonia-Fueled PSV Set to Operate in 2026
Wartsila, a Finnish engine manufacturer, has signed a contract with Norwegian shipowner Eidesvik to convert one of its platform supply vessels (PSV), the Viking Energy, to run on ammonia fuel. This conversion will make the Viking Energy the world's first ammonia-fueled PSV in service, with operations expected to begin by mid-2026. Ammonia is being explored as an alternative fuel to reduce carbon emissions. The project is supported by Equinor, the vessel's charterer, which is financing the conversion. Wartsila has also launched its first ammonia four-stroke engine, capable of reducing greenhouse gas emissions by over 70% compared to diesel.
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