Egypt To Reopen LNG Plant In Push To Be Major European Supplier

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Category: Energía y Combustibles
Published on Monday, 01 February 2021 18:22
Written by Administrator2
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28 Jan 2021 
 

Egypt is set to boost exports of liquefied natural gas by restarting one of its two production plants.

The Damietta facility, which has been idled for eight years, will reopen by the end of February, Oil Minister Tarek El-Molla said in an interview Wednesday with Dubai-based consultancy Gulf Intelligence. It will process about 4.5 million tons of LNG a year and raise the nation’s capacity to 12.5 million tons, he said.

The return of Damietta and the country’s other plant — Idku, whose exports have picked up after dropping last year amid the coronavirus pandemic — will mark a revival of Egypt’s LNG push.

While the Arab nation is a relative minnow — accounting for about 1% of

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Joe Biden focuses on clean energy for shipping

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Category: Energía y Combustibles
Published on Thursday, 28 January 2021 08:22
Written by Administrator2
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Splash 247

Sam Chambers

 

January 28, 2021

 

 

 

Eight days into his presidency and there’s already a host of initiatives signed by Joe Biden that will have enormous ramifications for shipping and offshore.

Yesterday the 46th president of the United States focused on climate change.

An executive order signed by Biden called for “enhanced climate ambition” with focus on shipping as well as aviation, the Arctic, ocean sustainable development among other topics.

John Kerry, Biden’s, special presidential envoy for climate, will now promote “innovative approaches, including international multi-stakeholder initiatives” to resolve climate issues, including in shipping, the order stated.

With both the Congress and the Senate in Democrat hands, the discussions, which started last year on pushing shipping towards a European style emission trading scheme, are

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Unemployed oil tankers about to get scrapped on beaches in Asia

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Category: Energía y Combustibles
Published on Monday, 25 January 2021 07:21
Written by Administrator2
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Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.

by Bloomberg
25/01/2021, 6:45 am
© Bloomberg

Covid-19 is destroying the market for tankers that deliver about a fifth of the world’s crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap.

Last week, the 1,200-foot vessels plying the industry’s busiest trade route — from the Middle East to Asia — effectively had to subsidize the delivery of cargoes because of how

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Oil Tanker Owners Pay to Move Crude in Wake of Supply Cuts By Alex Longley 19 de enero de 2021 19:00 CET Updated on 20 de enero de 2021 14:32 CET Benchmark supertanker earnings turned negative on Tuesday Rate slump follows Saudi cuts, unwinding of float

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Published on Monday, 25 January 2021 07:17
Written by Administrator2
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BLOOMBERG

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19 de enero de 2021 19:00 CET Updated on 20 de enero de 2021 14:32 CET
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    Benchmark supertanker earnings turned negative on Tuesday
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    Rate slump follows Saudi cuts, unwinding of floating storage

Saudi Arabia’s oil production cuts have hit the tanker market so hard that owners of the biggest vessels are effectively subsidizing cargo deliveries on the industry’s main trade route.

 

Supertankers delivering 2-million-barrel shipments of the kingdom’s oil to China are losing $736 a day for the privilege, according to data from the Baltic Exchange in London on Tuesday. While owners might, in practice, be able to mitigate such losses by ordering captains to sail the vessels slower, the reality is that some ships are losing money on Middle East-to-Asia deliveries, according to

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