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Thursday, February 23, 2012

Tanker news

Published	Article
18.01.2012	SAUDI Arabia plans to double its refinery capacity in the next 10 year National oil company Saudi Aramco is targeting China as a leading oil consumer with potential to import more than the US, say oil analysts. The investment will see Saudi Aramco increase its refining output to 8m barrels per day over the next 10 years, chief executive Khalid al-Falih told reporters this weekend at a signing ceremony with Sinopec to build a new refinery in Saudi Arabia. Saudi...... More
18.01.2012	IEA revises down global demand in 2012 According to the IEA OIL market Report, Oil markets began the New Year confronting a host of supply issues, not least a pending EU ban on Iranian oil imports and retaliatory threats from Tehran to close the Strait of Hormuz, through which flows roughly one ‐ third of world oil exports. Oil prices jumped $4 ‐ 5/bbl on the reports, but eased on mounting euro zone debt issues. Brent was last tradi...... More
16.01.2012	Blemish-free flag states - ICS Revealing its latest flag performance table, ICS says it believes a balance has to be struck between the commercial advantages of shipowners selecting a particular flag and the need to discourage the use of any flag that does not meet its international obligations. "While it is shipping companies that have primary responsibility for the safe operation of their ships, it is the flag state that...... More
12.01.2012	Pipeline to by-pass the Straits of Hormuz - Reuters ABU DHABI, Jan 9 ( Reuters ) - The United Arab Emirates has delayed the launch of a crucial oil pipeline to bypass the Straits of Hormuz to mid-2012, which analysts said would add to supply worries at a time when Iran threatens to block the strait for all the Gulf's oil. Oil prices have remained elevated in recent weeks as Iran has threatened to block the strait should the West impose tougher...... More
28.12.2011	Iran's threat to halt oil shipments through the Strait of Hormuz- Reuters (Reuters) - Brent crude oil steadied above $109 a barrel on Wednesday after rallying for six straight sessions, supported by Iran's threat to halt oil shipments through the Strait of Hormuz Brent eased 13 cents to $109.14 barrel by 0559 GMT, after climbing more than a dollar in the previous session. Prices have surged over 5 percent since December 16. U.S. crude rose 9 cents to $101.43 a...... More
16.12.2011	Chinese oil import up 8.5% - PIW Petroleum Intelligence Weekly reports that crude imports jumped to 5.37 mbd ( million barrels per day) in November, their second-highest level ever, and up 8.5% year-on-year, according to the latest government data. November imports were also up 9.1% from the 5.08 mbd seen in October. The country is experiencing a serious diesel shortage, due to a combination of strong demand and heavy refinery...... More
13.12.2011	Iranian military manoeuvre on how to close the Strait of Hormuz - Reuters TEHRAN, Dec 12 (Reuters) A member of the Iranian parliament's National Security Committee said on Monday that the military was set to practise its ability to close the Gulf to shipping at the narrow Strait of Hormuz , the most important oil transit channel in the world, but there was no official confirmation. The legislator, Parviz Sarvari, told the student news agency ISNA: "Soon we will ho...... More
13.12.2011	Oil demand up 1.1 mbd per year on average until 2016 - IEA IEA reports that a more precarious economic backdrop and weaker 4Q11 data – particularly for OECD Europe – curb oil demand projections for 2011 and 2012 by around 0 . 2 mbd . Global oil demand is expected to average 89.0 mbd by 2011, a rise of 0.7 mbd on 2010, before gaining a further 1.3 mbd in 2012 to reach 90.3 mbd. Global oil supply rose by 0.9 mbd to 90.0 mbd in November from October,...... More
13.12.2011	Iranian military manoeuvre on how to close the Strait of Hormuz - Reuters TEHRAN, Dec 12 (Reuters) A member of the Iranian parliament's National Security Committee said on Monday that the military was set to practise its ability to close the Gulf to shipping at the narrow Strait of Hormuz , the most important oil transit channel in the world, but there was no official confirmation. The legislator, Parviz Sarvari, told the student news agency ISNA: "Soon we will ho...... More
22.11.2011	Saudi Arabia halts $100bn oil expansion programme - FT Saudi Arabia has halted the $100bn expansion of its oil production capacity after reaching a target of 12m barrels a day as the kingdom believes that new oil sources will meet rising demand. Khalid al-Falih, chief executive of state-owned Saudi Aramco, said on Monday that pressure on Riyadh to raise its output capacity had “substantially reduced”, the clearest indication yet that the world’s...... More

Published

Article

18.01.2012

SAUDI Arabia plans to double its refinery capacity in the next 10 year

National oil company Saudi Aramco is targeting China as a leading oil consumer with potential to import more than the US, say oil analysts. The investment will see Saudi Aramco increase its refining output to 8m barrels per day over the next 10 years, chief executive Khalid al-Falih told reporters this weekend at a signing ceremony with Sinopec to build a new refinery in Saudi Arabia. Saudi...... More

18.01.2012

IEA revises down global demand in 2012

According to the IEA OIL market Report, Oil markets began the New Year confronting a host of supply issues, not least a pending EU ban on Iranian oil imports and retaliatory threats from Tehran to close the Strait of Hormuz, through which flows roughly one ‐ third of world oil exports. Oil prices jumped $4 ‐ 5/bbl on the reports, but eased on mounting euro zone debt issues. Brent was last tradi...... More

16.01.2012

Blemish-free flag states - ICS

Revealing its latest flag performance table, ICS says it believes a balance has to be struck between the commercial advantages of shipowners selecting a particular flag and the need to discourage the use of any flag that does not meet its international obligations. "While it is shipping companies that have primary responsibility for the safe operation of their ships, it is the flag state that...... More

12.01.2012

Pipeline to by-pass the Straits of Hormuz - Reuters

ABU DHABI, Jan 9 ( Reuters ) - The United Arab Emirates has delayed the launch of a crucial oil pipeline to bypass the Straits of Hormuz to mid-2012, which analysts said would add to supply worries at a time when Iran threatens to block the strait for all the Gulf's oil. Oil prices have remained elevated in recent weeks as Iran has threatened to block the strait should the West impose tougher...... More

28.12.2011

Iran's threat to halt oil shipments through the Strait of Hormuz- Reuters

(Reuters) - Brent crude oil steadied above $109 a barrel on Wednesday after rallying for six straight sessions, supported by Iran's threat to halt oil shipments through the Strait of Hormuz Brent eased 13 cents to $109.14 barrel by 0559 GMT, after climbing more than a dollar in the previous session. Prices have surged over 5 percent since December 16. U.S. crude rose 9 cents to $101.43 a...... More

16.12.2011

Chinese oil import up 8.5% - PIW

Petroleum Intelligence Weekly reports that crude imports jumped to 5.37 mbd ( million barrels per day) in November, their second-highest level ever, and up 8.5% year-on-year, according to the latest government data. November imports were also up 9.1% from the 5.08 mbd seen in October. The country is experiencing a serious diesel shortage, due to a combination of strong demand and heavy refinery...... More

13.12.2011

Iranian military manoeuvre on how to close the Strait of Hormuz - Reuters

TEHRAN, Dec 12 (Reuters) A member of the Iranian parliament's National Security Committee said on Monday that the military was set to practise its ability to close the Gulf to shipping at the narrow Strait of Hormuz , the most important oil transit channel in the world, but there was no official confirmation. The legislator, Parviz Sarvari, told the student news agency ISNA: "Soon we will ho...... More

13.12.2011

Oil demand up 1.1 mbd per year on average until 2016 - IEA

IEA reports that a more precarious economic backdrop and weaker 4Q11 data – particularly for OECD Europe – curb oil demand projections for 2011 and 2012 by around 0 . 2 mbd . Global oil demand is expected to average 89.0 mbd by 2011, a rise of 0.7 mbd on 2010, before gaining a further 1.3 mbd in 2012 to reach 90.3 mbd. Global oil supply rose by 0.9 mbd to 90.0 mbd in November from October,...... More

13.12.2011

Iranian military manoeuvre on how to close the Strait of Hormuz - Reuters

22.11.2011

Saudi Arabia halts $100bn oil expansion programme - FT

Saudi Arabia has halted the $100bn expansion of its oil production capacity after reaching a target of 12m barrels a day as the kingdom believes that new oil sources will meet rising demand. Khalid al-Falih, chief executive of state-owned Saudi Aramco, said on Monday that pressure on Riyadh to raise its output capacity had “substantially reduced”, the clearest indication yet that the world’s...... More