Asia

Houthis, who are allied with Iran, in Yemen, will blockade Saudi Arabia's maritime traffic, they announced on Monday. This would further restrict a global market for energy, which is already severely restricted due to Iran's closing of the Strait?of Hormuz. Why it matters, and what it means to the Iran War and the global energy crises: How big is the risk to global energy markets? It's not clear what the Houthis will do to blockade Saudi Arabia along the Red Sea Coast, their northern neighbor. Or if they would return to attacking shipping. Yemen is located on the strait of?Bab...

Four industry sources confirmed that Russian steel billionaire Vladimir Lisin sold a shipping company?operating?in the Sea of Azov, to agricultural logistics group Demetra. They added that the deal had been negotiated before Ukrainian drone strikes on commercial vessels caused shipping restrictions in the region. Volga Shipping transports grain, metals and coal along the Volga, Don and Black Sea rivers. Its cargo volume is more than 15 million metric tonnes per year. On Monday, neither Demetra nor Volga Shipping, nor Lisin's steel company NLMK responded to any requests for comments. Four sources confirmed that Demetra and Lisin-affiliated companies were involved in...

Shipping data shows that Gulf countries have boosted crude oil and condensate exports to their highest level since the Iran War began late in February. Although the flow through the Strait of Hormuz is now slowing, as fighting escalates. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported that Saudi Arabia, Iran,...

Shipping data shows that Gulf countries have increased crude oil and condensate exports to their highest level since the Iran War began late in February. However, the flow of oil through the Strait of Hormuz is now slowing down as the fighting intensifies. Kpler data showed that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent from the average daily exports of June to 12 million barrels of oil per day in the first half July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported...

Shipping data shows that Gulf countries increased 'crude oil' and 'condensate" exports to their highest level since the Iran War began late in February. However, the flow of crude oil through the Strait of Hormuz is now slowing down as the fighting escalates. Kpler data shows that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16 percent compared to the entire June daily average, reaching 12 million barrels a day (bpd), in the first half of July. Vortexa estimated that exports for the period were even higher at 13.06 million bpd. Kpler reported...

Shipping data shows that Gulf countries increased crude oil and condensate exports to their highest level since?before the Iran War began in late Febuary, although the flow through the Strait of Hormuz is now slowing down as the fighting escalates. Kpler data shows that crude and condensate imports from Saudi Arabia and the United Arab Emirates increased by about 16% compared to the entire June daily average, reaching?12million barrels per day in the first half July. Vortexa estimated that exports during the period were even higher at 13.06 million bpd. Kpler reported that Saudi Arabia, Iran, and Iraq led the...

Sources from maritime security said that armed 'assailants' are believed to be in control of the chemical tanker Asana, which was seized by armed gangs on Friday off the southern coast of Yemen and in the Gulf of Aden. Ship tracking data revealed that the small tanker had not confirmed its flag and had named Bosaso, a port in Somalia, as its next destination. One of the maritime safety sources stated that based on initial assessments the incident seemed to be more related to Somali pirates than Yemen's Iran aligned Houthi militia. The British Navy agency UKMTO reported on Friday...

These are the most popular stories from the Wall Street Journal. The?has not checked these stories or?cannot?guarantee their accuracy. Databricks, a provider of data analytics, has raised a round of strategic funding valued at $188 billion. The U.S. Food and Drug Administration announced that Taco Bell owned by Yum Brands would stop using shredded iceberg sourced from a supplier that has been linked with a parasitic outbreak causing a severe form of diarrhea and vomiting. Honda Motors will stop?the production?of its Prologue SUV, which is sold?in America?this?year. Honda Motors will not cancel sales immediately, but expects to continue them until...

Iraqi crude 'loadings' more than doubled in the first half July to averaging 1.2 million barrels per day, according to Kpler and a direct source familiar with the flows. This was due to the accelerated exports after months of restrictions. Kpler data showed that crude exports averaged around 500,000 bpd during June. Kpler reports that despite the increase in monthly exports, Iraqi crude oil from the southern port of Basra is still "dramatically" down from levels before the Iran War, when it was above 3.2 millions bpd. A drone strike on a crude oil tanker in Basra, Iraq on Thursday...

Iran warned that if U.S. strikes continue, its campaign to choke global energy markets may expand from the Strait-of-Hormuz?to the crucial Red Sea route. This threat is dependent on the Houthi allies of Iran in Yemen. Here's why it matters, and what that means for the Iran War and the global energy crises: How big is the risk to global energy markets? The Bab el-Mandeb strait, the gateway to the Red Sea, would be closed and open a whole new front in the conflict between Iran and the U.S. The Red Sea is now an important alternative outlet for Gulf...

According to three sources, the freight rates for tanker shipments from western ports of Russia's Urals crude to India have fallen in July compared to last month. This is because increased vessel availability and the summer season eased pressure on the market. The lower transportation costs are a relief for Russian oil exporters whose margins were under pressure due to the wider discounts on Urals crude, as a result of weak demand in Asia. Sources claim that the cost to ship a cargo of 100,000 metric tonnes of Aframax from the Baltic port of Primorsk, in the Baltic Sea, to...

Oman has said that it will 'keep' the Strait of Hormuz free of tolls for shipping and designated two temporary routes to the north and south of existing shipping lanes to ensure the safe passage of ships leaving the region. Oman, in coordination with the International Maritime Organization (IMO), established temporary maritime routes to assist ships leaving the region safely amid increased security risks. Since the United States and Israel launched their war on Iran, the Strait of Hormuz has been severely disrupted, with commercial shipping being slowed and global energy markets roiled. Oman warned mariners that the "existing Traffic...

Three industry sources reported on Tuesday that the Caspian Pipeline Consortium has ceased receiving oil from Kazakhstan after the suspension of 'loadings' due to a sabotage attack against 'oil tankers? at its Black Sea Terminal. Two sources said that the oil?reservoirs are also full at the terminal. CPC, the company that accounts for 80% of Kazakhstan's oil exports, declined to comment. CPC announced on Monday that oil loads were'suspended' at the Black Sea Port following a ukranian drone attack against tankers. Chevron continues its monitoring of the situation at CPC. Safety and security for personnel are our highest priority. Chevron's...

UOB Private Bank (the wealth management arm of United Overseas Bank in Singapore) has appointed Judy Chan as managing director for Hong Kong. This appointment will take effect July 2026. The following is more information about the statement: Chan will report to Chew Mun Yew as the head of private banking for the group. She will oversee the local private banking team and lead the bank's work in Hong Kong with wealthy clients. Chan has over 30 years' experience in private and commercial banking. She has been in senior positions?managing teams, growing business?in key markets and advising on wealth planning...

According to a Moroccan-Nigerian statement, member states of the Economic Community of West African States signed an intergovernmental agreement in 'Freetown on Sunday backing the 'Nigeria - Morocco Atlantic gas pipeline. According to a joint?statement?by Morocco’s hydrocarbons & mining agency ONHYM & Nigeria’s state oil firm NNPC, the pipeline will transport up to 30 billion cube metres (bcms) of natural gases a year through 13?West African nations to Morocco. The statement stated that 15 bcm of that capacity will be?available for Moroccan and European markets via an?existing pipe that links 'Morocco with Spain. The pipeline was agreed upon a decade...

CPC announced on Sunday that two?oil tanks were attacked by a gang of armed men at a terminal near the Black Sea coast in?Russia. Oil loadings have been suspended. CPC reported that the ASIA and NISSOS tanks were attacked during loading operations. CPC said that the ASIA tanker caught on fire and was put out. CPC employees and contractors were not injured or killed. CPC confirmed that there was no oil spill, adding that the tankers were still afloat. CPC has not identified any party responsible for the incident. In the past week, both Russia and Ukraine have intensified their...

The energy ministry announced on Friday that Azerbaijan’s oil and condensate production fell from 13.7 million metric tons in the same period last year to 13.3 millions metric tons in this time frame. Azerbaijan’s gas production from January to June increased to 25.4 billion cubic meters from 25.2 billion cube metres in the same period last year, while oil exports fell to 10.2 millions tons from 11.6million tons, according to the report. BP, a British company, reduced its Azerbaijan oil?production to?7.9 millions tons from 8.0million tons a year ago. Gas exports into Europe dropped to?5.9 billion cubic meters from 6.1...

CPC reported that two drones attacked and damaged an oil tanker, which was chartered to load oil at the Caspian Pipeline consortium terminal near Russia's Black Sea coast. ExxonMobil was said to have chartered the Suezmax class Nordic Zenith. CPC has not identified any party responsible for the incident. In the past week, both Russia and Ukraine have intensified their attacks on shipping in the Black Sea and Azov Seas. This marks a new phase in a war which has been fought mainly on the ground. CPC stated in a press release that a fire had broken out on the...

Telstra CEO Vicki. Brady said on Friday that the outage last week at Australia's biggest telecoms.firm was probably caused by a.missed software update and an undocumented.design change.on a network.time-keeping.device. Last Wednesday's outage was the latest of a series that has hit Australia's telecoms sector in the last few years. It cut off phone service for thousands of customers and disrupted wireless payment systems. Optus, Australia's second largest telecoms company, experienced a?13 hour disruption in emergency call services, which may have led to four deaths. This was followed by a cyberattack in 2022 that exposed the personal information of millions of...

Kuwaiti authorities reported?on?Friday that an Iranian attack?hit one of Kuwait's power generating and?water -desalination stations, causing a fire, damage, and the interruption of a number of electricity generation units. The Ministry of Electricity, Water and Renewable Energy reported that firefighters brought the fire under control, while technical teams assessed the damage, secured the station and worked to restore service as quickly as possible for the affected electricity generation units. Iran claimed to have launched a new attack on U.S. military facilities in the Middle East on Friday. This included 'the first direct attack on Syria, following a sixth night of...

China imported 11.5 million barrels per day on average in the past five years. Since April, the average has been just 8 million barrels per day. China's rapid slashing of imports - shipments dropped to 40% below pre-Iran War levels in June - has helped keep a lid on global prices, and has freed up cargoes that could be used by other countries. Market observers want to know if the decline in demand will last. Michal Meidan is the head of China Energy Research for the Oxford Institute for Energy Studies. "There is a huge level of uncertainty, because we...

Three sources have confirmed that Saudi Arabia's ROSHN group is looking for investors to help finance its Aramco stadium, which will host the FIFA World Cup in 2034. The state-backed developer wants to free up capital so it can deliver projects as part of the kingdom's economic transformation strategy. Saudi Arabia is relying more on outside capital as it tries to reduce its dependence on oil and gas revenues. Two sources who declined to be identified because the matter was not public said that JPMorgan had hired ROSHN to manage the equity raising process. According to a third source, PIF...

The administration of New York Governor Kathy Hochul on Wednesday condemned an "ongoing outage" on the Champlain-Hudson Power Express transmission line. She had championed the $6 billion project to reduce the use of dirty oil-fired power plants and increase the razor-thin'state grid's buffer against unforeseen events. According to the latest transmission outage calendar from grid operator New York ISO, the?1,250 megawatt Champlain Hudson Power Express is expected to remain offline until July 31. New York ISO's data previously indicated that CHPE would not be in service until the end of this week. New York ISO didn't respond to a request...

Three sources have confirmed that Saudi Arabia's ROSHN group is looking for investors to help finance its Aramco Stadium which will host the FIFA World Cup in 2034. The state-backed developer wants to 'free up capital' so it can deliver projects as part of the Kingdom's economic transformation plan. Saudi Arabia is increasingly relying on outside capital for funding projects in tourism, sports, and logistics to reduce the economy's dependence on oil and gas revenues. Two sources who declined to be identified because the matter was not public said that JPMorgan had hired ROSHN to manage the equity raising process....