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CPC Blend oil exports reached a record of 1.83 million bpd as Tengiz restored output, according to sources
Two industry sources reported that the Caspian Pipeline Consortium (CPC) had a record oil loading of?7.187 millions metric tons (or about?1.83million barrels per day). This was due to a higher production at?Kazakhstan?s giant Tengiz?oilfield following temporary maintenance. The oil output of the Tengiz Field was reduced for several days by a malfunctioning power transformer at the end May. However, it was restored. Calculations showed that daily CPC Blend oil loads rose by 10% from April to May. In April, loadings totaled 6.314 millions tons or 1.67 million barrels per day. One source said that the CPC system saw a rise in the number of crude oil loadings from 5.45 to 6.27 millions tons in May. The volume of Russian crude oil shipped via CPC has also increased, increasing to 0.92 millions tons from 0.86million tons in April. CPC does not comment on commercial activities. CPC also increased its June export plans for CPC Blend crude from 1.45million bpd to 1.7million bpd or approximately 6.5 million tonnes for the month. They said that the revision was due to the postponement of maintenance on the Kashagan oilfield until 2027, and the recovery in production from Tengiz. Kazakhstan has stopped oil exports from Germany since May 1. The?volumes that were freed up will be diverted to the CPC route. CPC anticipates that oil shipments will increase to 72 millions tons by 2026, up from 70.5million?tons in 2020. CPC's pipeline transports more than 80% of Kazakhstan oil exports. This is mainly from large Caspian oil fields such as Tengiz and Kashagan. The crude oil is loaded on tankers at the consortium's terminal in Yuzhnaya Ozereyevka, near Novorossiysk along Russia's Black Sea Coast. CPC's shareholders include Russia, with 31%, Kazakhstan, with 20,75%, Chevron, with 15%, as well as several private companies. (Reporting and Editing by Susan Fenton).
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Gasly's Monaco penalty is reviewed by the Alpine team and cleared of its first hurdle
The Alpine Formula One Team has overcome the first hurdle in a review of the Monaco Grand Prix pit-lane speeding penalties which cost Pierre Gasly his podium place. Stewards said in a statement the petitions for review were admissible and that they accepted that there was an important and new element which was not available to them when the decisions were made last Sunday. The virtual hearing moved on to the second stage of the event ahead of the "Barcelona-Catalunya Grand Prix". Renault-owned Alpine argued that the stewards were not aware of the 'issue' with the timing loops on the pit lane before the race. In the statement, Alpine said it also had data showing Gasly engaged the speed limiter on the car before entering the pits and stayed within that limit. Alpine claimed in a letter that "FOM as the Official Timekeeping Supplier of the Competition provided evidence that distances used to calculate the F1 Official Timing and therefore the pit lane speeds were inaccurate, and that Car 10's speed was overestimated". Gasly, a Frenchman, finished 'third on the road' in Monaco. It was essentially a home race for him and his team. However, he was demoted to'seventh place after receiving two 5-second penalties due to pit lane speeding. Gasly was one of many drivers who were penalised by the court for similar offenses. He had been doing 60,1, and 60,4 kph, when the speed limit?was only 60 kph. Gasly later said that he was "absolutely devastated" by the penalties, and "to see my lifelong dream of being on the podium in Monaco taken away for reasons I cannot understand". (Reporting Alan Baldwin, Editing Alex Richardson).
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Trump wants to "take" Iran’s Kharg Island oil center
Donald Trump, the U.S. president, said that he wanted to 'take over Iran's oil-infrastructure hub Kharg Island on Thursday but was unsure if the 'Americans had the stomach for such a major escalation of the war. "My preference was always to take Kharg Island... that's my preference." In an interview with Fox News, he stated that he didn't think America would be able to stomach it. Iran has maintained its stockpile of highly enriched uranium after more than three months of war. U.S. airstrikes on Iran continued for the second day, a worsening in?hostilities which has weakened prospects for an end to this?war? quickly. Trump stated that the U.S. will attack Iran with intensified attacks but would prefer not to hit bridges or power plants. "There will more bombing tonight." He said it would be "bigger - bigger and more powerful" on the Fox & Friends program. Trump has said that despite plans for further strikes, the U.S. Iran and the U.S. are still in talks to come up with a deal. The White House didn't immediately answer a question about whether or not the ceasefire agreement reached in April is still in effect. Iranian sources - and Western officials - said that indirect U.S. - Iranian talks on a preliminarily peace deal have intensified. Trump was upset with the media's coverage of Iran and its intransigence. Trump declared, "The whole thing is insane." "They are really submissive." "They just don't realize it yet." Since the U.S. launched airstrikes on Iran in February, thousands of people have died, mostly in Iran and Lebanon. The war has also pushed up oil prices globally. Reporting by Susan Heavey; Doina chiacu and Katharine Jackson, Editing by Doina chiacu
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Hungarian prosecutors order an investigation into insider trading in some MOL shares sold as early as 2026
Budapest's chief prosecutor’s office announced on Thursday that Hungarian prosecutors had ordered a police investigation into certain transactions relating to shares of oil company MOL in order to determine if they had violated the rules on insider trade. The police investigation follows a February probe by the??National Bank of Hungary into the sales of MOL stock by company officials following the January 27 suspension of crude oil shipments via the Druzhba Pipeline to Hungary. The shipments resumed only in late April. In an email?reply, prosecutors stated that "based upon current data, circumstances of relevant share?sales cannot be clarified without an investigation". Budapest Police has launched an investigation based on the suspicion of insider dealing. MOL didn't immediately respond to a comment request. In February, MOL said that its executives executed their share transactions in accordance with a law and disclosed the transactions through legal channels. MOL stated that the company had "always complied in every respect with all relevant laws", when the central banks announced their investigation. RETAILSTOCK INVESTORS AFFILIATED REPORT IN FEBRUARY The association of retail stock investors TEBESZ, which is the supervisory authority for capital markets, filed a report in February with the central banks about the sales of MOL stocks by company officials "in the days after the January 27th halt of Druzhba oil shipments". MOL said on 'February 16 that it had requested the Energy Ministry to release strategic reserves due to the stoppage of?Druzhba supplies. Kyiv announced on February 12 that Russian oil exports via the Ukrainian portion of the Druzhba pipeline to Eastern Europe had been "suspended" due to an attack by Russia. MOL shares rose by nearly 5% on Thursday, after the company concluded talks with Serbia on a shareholder's agreement regarding the acquisition of a stake from the Russian-owned and U.S. sanctioned oil company NIS. (Reporting and editing by Jan Harvey; Krisztina than)
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Russian oil exports to the sea fell in May, according to industry data.
According to industry sources, Russia's seaborne product exports dropped by 0.2% daily in May compared to April. This equates to a drop of?8.016 millions metric tons. While the 'continued Ukrainian drone attacks on key ports and major refineries led to a sharp decline in oil product loadings at Russia's southern port, this was offset by an increase in fuel exports from Baltic terminals. Kyiv intensified its attacks on Russian energy installations in the last few months as peace talks to end Ukraine's conflict failed to progress. In May, drones targeted a number of Russia's largest refineries, including Lukoil's NORSI refinery as well as Rosneft Ryazan and Surgutneftegaz Kirishi refinery. The fuel production in Russian refineries decreased last month. However, the exports of oil products were boosted by an increase in prices worldwide due to the Iran War and a stockpile of oil product after drone strikes disrupted port terminals. Sources say that oil product exports from Russia’s Baltic ports - Primorsk Vysotsk St. Petersburg Ust-Luga -- rose 11.3% month-on-month in May to 3.82 millions tons as loadings recovered partially after earlier suspensions due to attacks on key terminals. The data showed that fuel exports via Black Sea and Azov Sea ports fell 19.7% from April to 3,03 million?tons last month. In April and May, Ukrainian drones repeatedly attacked the Russian Black Sea port Tuapse as well as the nearby Rosneft owned refinery. This led to the suspension of fuel production and export loads. In May, oil product exports from Arctic ports Murmansk, Arkhangelsk, and Nome, grew to 294,600 tons, up from just 104,300 a month earlier. The data also showed that fuel exports from Russia's Far East ports increased by 21.3% in May compared to April, reaching 875,200 tonnes. Hugh Lawson, Editor and Reporter (Reporting)
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Fuel stations run out of fuel in Crimea after a new night of Ukrainian drone attacks
Witnesses reported that fuel stations on the Russian-held Crimean Peninsula were running out of gasoline as the Ukrainian campaign to cut off supply lines was intensifying. Witnesses in Sevastopol (the largest city on the peninsula) reported that there was no fuel available at local petrol stations. Supplies were struggling to keep up even with a recent rationing scheme. Another said there was a queue in Yevpatoriya's resort town outside the only petrol station that worked. Ukraine is intensifying drone attacks on supply lines to the peninsula that Russia captured from Kyiv back in 2014. Local authorities have implemented fuel rationing regimes. Some foodstuffs are also in short supply. According to data collected by. Only Crimea and 2 regions in Siberia have confirmed shortages. Most other regions say that the situation is under?control and that some disruptions are caused by panic purchasing. Moscow denied that there was any problem with fuel supplies. Sberbank, a state-owned lender, has warned that the rising cost of fuel poses an inflationary risk to the Russian economy. TRUCKS CAN'T BRING FUEL TO CITY The Russian-backed Sevastopol Governor Mikhail Razvozhaev announced on Wednesday that the plans to distribute rationed fuel had been delayed due to trucks being unable bring the fuel into city following recent Ukrainian strikes on supply routes. Fuel is mainly delivered by rail and road to Crimea via the Russian territories in the north that Moscow took over in 2022. Drone attacks have disrupted these routes more and more. Fuel was previously delivered to Crimea via barge from an oil terminal located in the city of Feodosia. However, supplies have been cut since Ukraine attacked the terminal in April. The governor of Sevastopol who is installed in Moscow said that 33 drones were downed by Ukrainian drones overnight. The Russian-backed Governor of the?Moscow-held part Kherson region which borders Crimea on the north said that Ukraine has targeted bridges and caused some damage. Kyiv struck also in?southern Russia over night, according to authorities, causing damages?including an fire at the Afipsky refinery which has been extinguished. The Adygea governor also reported damage to civil infrastructure in the area. Reporting by Felix Light in Sevastopol, Yevpatoriya; Editing by Alex Richardson
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Indian crewed tanker is suspected to be the third US attack this week on a tanker off Oman.
The Indian shipping ministry confirmed that all 20 crew members are'safe' after a suspected U.S. attack on the 'asphalt-tanker Jalveer, off Oman. This follows two other similar strikes in the region this week. Three Indian sailors were killed in a U.S. attack on the Settebello oil tanker off Oman one day earlier. British maritime risk management firm Vanguard? said that the Jalveer, a vessel flying the flag of Guinea-Bissau, sent out a distress signal after an engine room fire and a funnel caught on fire. Officials from the Indian Shipping Ministry said that the crew was being evacuated with coordination of the "Royal Navy of Oman". Randhir Jaiswal, spokesperson for the Indian Foreign Ministry, told reporters that the U.S. Navy attacked the ship. The cause of the fire was not disclosed, but it is likely that the U.S. Ambrey, a British maritime security firm, said that the blockade of Iranian ports was likely to be responsible for this fire. U.S. Central Command did not have any immediate comments on the incident. If confirmed, this would be the third Indian tanker that has been hit by U.S. forces in the last week. On Monday, the Marivex oil-tanker was destroyed using precision munitions. The U.S. started a blockade of Iran related shipping on April 13, after Iran severely restricted shipping through the Strait of Hormuz. This is a major oil and gas shipping route. U.S. Centcom stated that the Marivex & Settebello failed t follow directions when?U.S. The blockade was enforced by U.S. forces. Centcom reported on Wednesday that U.S. Forces enforcing the 'blockade' had disabled eight non-compliant ships, redirected another 134, and allowed 42 humanitarian aid vessels to pass since 'the blockade began. The ships being targeted are Iranian vessels and others that are?carrying Iranian goods, such as so-called Shadow Fleet Tankers. These vessels, usually older and without Western insurance, transport sanctioned oil under the flags of different nations in order to conceal their true ownership and cargo. The Marivex tanker was the only one among the three that was subject to U.S. sanctions. Reporting by Jonathan Saul and Nidhi verma; editing by Jason Neely
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BHP workers in Australia's key iron ore export hub support the strike by hundreds
Two unions reported 'on Thursday that hundreds of BHP workers in Port Hedland, Western Australia, voted to strike, increasing the risk of iron ore shipments being disrupted from one of the largest export hubs in the world. Electrical Trades Unions (ETU) reported that 100% of their 100 members who participated in the vote approved work stoppages between 30 minutes and 24 hours. These could start within a few days. A spokesperson for the Australian Manufacturing Workers Union (AMWU), said that more than 100 members voted in favor of strike action with 89.4%. These votes follow months of negotiations with BHP - the world's largest listed mining company - to agree on a labor agreement. Workers were seeking better pay and conditions. BHP didn't immediately respond to a comment request. Port Hedland, Australia's largest iron ore loading port, is among the largest in the world. The mine is connected to several BHP mines located in the Pilbara area and is used by BHP for all its iron ore exported in Western Australia. The ETU stated that it wanted to ensure parity between workers at the port who have the same skills and experiences, after being hired under "wildly different" individual contracts. Adam Woodage, State Secretary for Western Australia, said: "We've been trying to negotiate for over six months but BHP has been obstructive, so we don't even have anyone with whom to negotiate." The union said that workers can begin industrial action after giving five days notice. Steve McCartney, AMWU's state secretary, said that workers had unsuccessfully negotiated with the company for seven months. He said that the members had?had it." "They?demand to be heard, and they?demand a fair deal." "More 100 workers are fighting for fair wages and working conditions in the face of a crisis caused by rising costs of living."
German players will pay for 600 stadium trips to fans amid rising transport costs
German players are offering to cover the costs of transport for 600 fans to attend their 'last Group E match against Ecuador on June 25 in New Jersey. The city authorities raised rail and bus prices from New York to New Jersey's MetLife Stadium several times, citing the increased pressure on public transportation systems. Fans who had already paid high prices for match tickets were angry.
The German Football Association told the BBC that the players of the German national team had arranged free transportation to the final match of their group for 600 fans.
"Captain Joshua Kimmich, his teammates and the New York Yankees will cover the cost of buses that will take fans from New York to the New Jersey arena for the match against Ecuador."
Could not confirm the statement immediately. The cost of a round-trip train ride to the stadium, which usually costs $12.90 has been reduced from $150 after NJ Transit received a lot of criticism.
Shuttle buses are now only $20 instead of the original $80.
The last two World Cups, in Russia and Qatar, were free of charge for fans. On Sunday, Germany's four-time world champions will face Curacao in Houston. (Reporting by Chiranjit Ojha in Bengaluru; Editing by Andrew Cawthorne)
(source: Reuters)