2024.09.06
- SLOW
- 2024년 9월 11일
- 3분 분량
US expands sanctions on Russia’s 'dark fleet' to curb LNG exports
The US has imposed further sanctions on two additional vessels and related shipping companies in its ongoing efforts to block Russia’s liquefied natural gas (LNG) exports from the Arctic. The Treasury Department sanctioned the vessels Mulan and New Energy, along with India-based companies Gotik Shipping Co. and Plio Energy Cargo Shipping Opc. These sanctions target Russia’s Arctic LNG 2 project, which has previously faced US sanctions. Russia has developed a "shadow fleet" of tankers with opaque ownership and hidden tracking systems to circumvent sanctions. The US, in collaboration with G7 allies, remains committed to countering Russia’s use of energy resources for political leverage.
[SLOW] OFAC Sanction Tanker List _ OFAC-listed tanker count
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[SLOW] https://slowspace.io/ Trade Flow Russia clean petroleum product/naphtha seaborn exports
Russia's fuel exports hit four-month low amid sharp decline in diesel shipments
Russia's fuel exports fell to a four-month low in August, primarily due to a significant reduction in diesel shipments. Refined seaborne fuel flows dropped by 11% from July to an average of 2 million barrels per day, marking one of the lowest export levels in recent years. Diesel and gasoil exports, which make up about 40% of Russia's fuel exports, hit their lowest level since October as Moscow restricted diesel shipments to ensure stability in the domestic fuel supply. This decline is also attributed to Russia diverting supplies to its domestic market due to an outage at Belarus’s Mozyr refinery. Naphtha and gasoline exports also fell, while fuel oil shipments rose slightly and jet fuel volumes surged. Diesel exports were mainly directed to Turkey, Africa, and South America.
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[SLOW] EIA - Crude Oil Outlook _ OPEC oil supply outlook
OPEC+ delays planned oil output hike
OPEC+ has agreed to delay a planned oil output increase for October and November, as crude prices recently hit a nine-month low due to concerns over a weakening global economy and sluggish demand from China. The group, consisting of OPEC and its allies including Russia, postponed the output hike of 2.2 million barrels per day until the end of November. The decision temporarily boosted oil prices, with Brent futures rising by over $1 a barrel. OPEC+ was previously set to increase output by 180,000 bpd, but market uncertainties and fears of oversupply led to the delay. A full OPEC+ meeting to decide on future policies is scheduled for December 1, with a preliminary monitoring meeting set for October 2.
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Guyana's rising influence in global oil tanker markets
Guyana, South America's second-smallest country, is becoming a significant player in the global oil industry, impacting crude tanker markets. The Baltic Exchange recently introduced an index tracking suezmax tanker rates from Guyana to the Amsterdam-Rotterdam-Antwerp (ARA) region. Guyana’s oil production currently stands at 600,000 barrels per day, representing 1.5% of seaborne crude. From February to August, larger VLCCs transport the crude, while smaller Suezmax vessels are used from September to January due to rough seas. This shift has led to the emergence of a "VLCC season" in Guyana. As production grows, more changes in trading patterns are expected.
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[SLOW] https://slowspace.io/ _ Dangote refinery
Nigeria to grant Dangote refinery to set gasoline prices
Nigeria is set to allow Aliko Dangote's refinery to determine its own gasoline prices, marking a significant shift in the government's control over fuel costs. The country, previously reliant on gasoline imports and subsidizing prices, will enable Dangote's refinery to sell directly to petroleum marketers at market rates starting next month. This move follows efforts to reduce subsidies, which have inflated public debt and caused shortages. As Nigeria's state-owned NNPC faces financial struggles due to unpaid subsidy debts, the deregulation of the fuel market could lead to more sustainable pricing. Dangote's refinery, once fully operational, is expected to produce 330,000 barrels of gasoline per day, exceeding the UK's fuel needs and contributing over 1% of global road fuel demand.
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Singapore increases clean energy import target by 50% for 2035
Singapore has raised its target for importing clean electricity to 6 gigawatts by 2035, a 50% increase from its initial goal, as part of its efforts to reduce reliance on natural gas. The Energy Market Authority (EMA) cited the positive progress of electricity import projects and the need to meet growing energy demands as reasons for the increase. Currently, 95% of Singapore’s electricity is generated from natural gas, but the country faces challenges in developing renewable energy sources like solar and wind due to space constraints. As a result, Singapore is focusing on electricity imports, including recent approvals for projects to import 1.4 gigawatts of low-carbon power from Indonesia.
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