U.S. crude oil stockpiles rose last week as imports increased and exports fell to their lowest since January, while gasoline and distillate inventories drew down, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.6 million barrels to 442.3 million barrels in the...
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Gibson tanker report – Liberation Day
On Wednesday the 2nd of April, the much-anticipated Liberation Day came to pass. US President Donald Trump made true his threats Source: GIBSON SHIPBROKERS LTD
https://www.hellenicshippingnews.com/gibson-tanker-report-liberation-day/
Caspian oil pipeline consortium readies for court battle in Russia over stoppage order
The Western-backed Caspian Pipeline Consortium is preparing to challenge in a Russian court a regulatory order that has crippled its exporting capabilities and threatened to cut oil flows to global markets, three industry sources told Reuters. Earlier this month, Russia’s transport regulator...
US drillers cut oil and gas rigs for first time in three weeks, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to...
Gibson tanker report – Power Shift
Global oil demand growth slowed markedly in 2024, rising by just 0.8% year-on-year – less than half the growth rate recorded in 2023 Source: GIBSON SHIPBROKERS LTD
https://www.hellenicshippingnews.com/gibson-tanker-report-power-shift/
Russia sees global oil demand rising by up to 1.5 million bpd in 2025
Russia’s Deputy Prime Minister Alexander Novak said on Wednesday that global oil demand was seen rising by between 1.0 million barrels per day and 1.5 million bpd this year, various news agencies reported. That compares with the latest expectations from the Organization of the Petroleum Exporting...
Gibson tanker report – Opening the Floodgates
A few years ago, the VLCC market buzzed with talks of new offshore export terminals capable of fully loading VLCCs Source: GIBSON SHIPBROKERS LTD
https://www.hellenicshippingnews.com/gibson-tanker-report-opening-the-floodgates/
Russia’s Gazprom Neft ready to raise oil output under OPEC+ deal, CEO says
Gazprom Neft (SIBN.MM), opens new tab is ready to raise oil output from April under the OPEC+ agreement, the head of the Russian oil producer said on Tuesday. The company does not plan to reduce oil refining in 2025 after a record refining volume in 2024, Alexander Dyukov, the CEO, added. Gazprom...
Ukraine, Russia energy assets in focus as Trump-Putin talks loom
U.S. President Donald Trump said he plans to speak to Russian President Vladimir Putin on Tuesday and discuss ending the war in Ukraine, with concessions being considered around land and “power plants”, without giving further details. Ukraine’s energy infrastructure has been the target of...
Gibson tanker report – Sailing the Sea of Sanctions
Just before the end of his presidency, the Biden administration gave a parting gift to the tanker markets as the Office of Foreign Assets Source: GIBSON SHIPBROKERS LTD
https://www.hellenicshippingnews.com/gibson-tanker-report-sailing-the-sea-of-sanctions/