Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, as well as 183 vessels that have shipped Russian oil…
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said…
Saudi Arabia's crude oil shipments to its biggest customer, China, are expected to drop to their lowest level in more than a year in April, trade sources said on Thursday, partly due to maintenance programmes at Chinese refineries owned by Sinopec…
The EU has just adopted its 16th sanctions package against Russia. The package targets systemically important sectors of the Russian economy such as energy, trade, transport, infrastructure and financial services.To curb the risk of our sanctions being bypassed…
U.S. President Donald Trump said on Tuesday he is in no hurry to speak to Chinese President Xi Jinping to try to defuse a new trade war between the world's two largest economies sparked by his sweeping 10% tariffs on all Chinese imports.China imposed targeted tariffs on U…
“When a country that exports large quantities imposes tariffs, it risks working against its own interests,” says Stamatis Tsantanis, Chairman & CEO of Greek shipping companies Seanergy Maritime and Maritime United.“Other nations adjust by sourcing commodities elsewhere…
Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.Brent crude futures LCOc1 dropped 53 cents…
China's foreign ministry said on Wednesday it was not aware of Shandong Port Group's decision to ban U.S.-sanctioned vessels from its network of east coast harbours.The group oversees several major terminals in the province of Shandong, which is the main entry point for Iranian…
Germany has refused to allow a Russian LNG shipment at the Brunsbuttel terminal in northern Germany in line with Berlin's policy not to import LNG from Russia, industry sources said on Thursday.The Financial Times reported earlier on Thursday…
The United States has imposed sanctions on hundreds of entities and individuals for supporting Russia's war effort in Ukraine, including companies supporting the development of Russia's Arctic LNG 2 project and its shipment of liquefied natural gas (LNG)…
Imports of liquefied natural gas (LNG) from Russia at the Netherlands' main terminal in Rotterdam have risen in recent months, underlining the need for further sanctions, the Dutch government said on Monday.Imports of Russian LNG at the GATE…
European Union countries agreed on a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on Thursday, including their first restrictions on Russian gas.The package bans re-exports of Russian liquefied natural gas…
The International Chamber of Shipping (ICS) and the Chamber of Marine Commerce, Canada (CMC), convened over 120 industry leaders from 90 organisations and nearly 30 different countries to the Shaping the Future of Shipping Summit on Thursday 13 June…
The United States on Wednesday issued hundreds of fresh sanctions targeting Russia over the war in Ukraine in action that took aim at Moscow's circumvention of Western measures, including through China.The U.S. Treasury Department imposed sanctions…
India's Reliance Industries, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by shipping company Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter…
