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Kuwait's KPC issues first spot naphtha tender since US-Iran conflict, sources say
According to trade'sources' and a document that was reviewed by, Kuwait Petroleum Corp (KPC), has made its first offer to?sell spot naphtha -cargoes from its ports for?July. This is the company’s first tender since the start of the U.S.Iran War. Documents showed that the state-owned oil company is offering 55,000 metric tons (495,00 barrels) of petrochemical feedstock or 80,000 tonnes, with the loading scheduled for the weekend of July 5-7 at any port in Kuwait. The bid closes on 22 June with same-day valid. KPC didn't immediately respond to a request for comment made outside the working hours of the company. Two sources confirmed that the refiner had last bid for February shipments in January. KPC offered prompt June-loading of refined fuels, such as naphtha and diesel via ship-to -ship transfers off the west coast of?India and?Oman or from Fujairah tankers.
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Authorities say 54 injured and 18 missing following explosion at Qatar LNG site
Authorities said that 54 people were injured and 18 others are missing following an explosion on Sunday at Qatar's main liquefied gas processing site, Ras Laffan. In a statement, QatarEnergy said that an incident occurred during the start-up operations of Ras Laffan industrial city which resulted in "an explosion and fire" at the Barzan gas supply facility Sunday evening. It said that emergency response teams had been deployed to control the fire. The fire was now under control. In a statement, the Interior Ministry of Qatar said that 54 people were injured and 18 people are missing. The ministry attributed the blast to a "technical error" and said there was no danger to public safety. QatarEnergy has not indicated whether the explosion caused any damage to its plant that supplies gas for the domestic market. Witnesses reported hearing a loud boom in Doha's capital, south of Ras Laffan. Barzan's gas facility is capable of producing 1.4 billion cubic foot per day and provides pipeline gas for local industries as well as Qatar's electricity generation sector. The Barzan gas facility has the?capacity of producing ethane and condensate for both domestic?and international markets. The facility is located at Ras Laffan, QatarEnergy’s main site for LNG export and production. It has a total 77 million tons of LNG per year via 14 trains. In the midst of a U.S./Israeli war against Iran, two of Qatar's LNG train and one of its gas-to liquids facility were damaged by strikes. This knocked out 17% of Qatar's LNG export capacity. Repairs are expected to take many years.
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Moscow says it has shot down 60 drones and reopened airports after the incident
Local authorities reported that the Russian capital, Moscow, shot down dozens drones early on Monday morning and temporarily suspended airport flights, only days after Ukraine struck the city's refinery. Sergei Sobyanin, the Mayor of Moscow, said on Telegram that 'nearly 60 drones headed for Moscow have been downed. Sobyanin didn't provide any further details but did say that emergency services had been sent to the areas where drones had crashed. Separately, the aviation watchdog reported that flights had been suspended at Sheremetyevo and Domodedovo airports as well as Zhukovskiy, near the capital. However, these flights were later resumed. Last week, drones attacked Moscow's only oil refinery. Moscow's defence system shot down almost 200 drones during that offensive. It was one of the largest air attacks on the city since Russia invaded Ukraine in 2022. Mikhail Razvozhayev said that the city of Sevastopol, in Russia-annexed Crimea, canceled all public events and would 'keep street lights off' on Monday. He also called for people to reduce their electricity consumption. The popular Russian tourist destination of Crimea has stopped selling fuel to the general public and to businesses. Fuel is only available to government agencies that are responsible for essential services and security. (Reporting and editing by David Dolan in Tokyo, Jekaterina Glubkova)
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AirAsia X CEO: Prices for jet fuel have fallen since June 15, resulting in a reduction of fares.
Bo Lingam said that the CEO of Malaysian budget airline AirAsia?X, has announced a 5% reduction in fares since June 15. The airline will continue to monitor the situation on a weekly basis as jet fuel prices fall, he added. As the U.S. - Iran war wreaked havoc on travel around the world, the airline has used the last three months to reduce underperforming flights, shift the demand, and renegotiate all contracts with vendors and lessors. Lingam said to reporters that they were still renegotiating and restructuring all of their contracts. He added that "week by week we will be revising our fares as the fuel prices go down." AirAsia?X was hard-hit by the volatile jet fuel price. It posted a loss in its first quarter this year, cutting 10% of its flights and adding fuel surcharges as a result. In a Monday statement, the airline stated that it expects to have its full capacity restored by August. Singapore jet ?fuel The price of oil was around $112 per barrel on Friday, after recent?declines attributed to an interim U.S.-Iran agreement. This was higher than pre-conflict prices of $80 per barrel, but less than half the high of March 30, $242. Lingam said that the airline would receive its first Airbus A220 aircraft by the end of 2027. These jets will be used in the Philippines. (Reporting and editing by Julie Zhu, Christian Schmollinger, Anne Marie Roantree and Jamie Freed).
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Iran claims to have closed the Strait of Hormuz again
After Iran announced that it had "again" closed the Strait of Hormuz, citing Israel and the United States, the number of ships passing through this waterway dropped sharply. Shipping data revealed that there were 'violations' of the interim peace agreement. Kpler data showed that five vessels crossed the Strait of Gibraltar on Sunday, down from 26 ships seen a day before. Three Very Large Crude Carriers, each carrying 2,000,000 barrels of Saudi crude oil and fuel oil, were among the vessels. One of them was headed to Japan. Data may exclude vessels who turn off their transponders when travelling through the Gulf. Iran agreed with the United States to extend a ceasefire in April for 60 days in order to facilitate peace negotiations. Last week, Iran lifted its effective blockade. However, the Islamic Revolutionary Guard Corps of Tehran declared that the waterway was closed again on Saturday in response to Israeli attacks in Lebanon. The U.S. Military said that commercial vessels are still operating. Three of the vessels that left the Strait on Saturday were VLCCs, carrying crude oil from the United Arab Emirates, Kuwait, and Iraq. There were also three tanks carrying different types of oil products. The data shows that 13 ships, including two VLCCs entered the Strait of Hormuz on Saturday. Gulf producers Abu 'Dhabi National oil Co?and Kuwait Petroleum Corp. have issued tenders for selling crude oil with the option of a loading from within and outside the Strait of Hormuz.
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French Railways boss warns heat-vulnerable travellers to avoid trains
On 'Sunday, the SNCF head warned 'vulnerable people not to take the train during France's heatwave. Jean Castex, a reporter at the time, said: "We advise the most vulnerable to postpone or avoid their trip during this heatwave." * Former French Prime Minister?Castex said that a number of incidents were possible due to the high temperatures. Meteo France's latest update stated that 49 departments would be under a "red heatwave" warning starting at noon on Monday. This is 14 more departments than Sunday. The heatwave will intensify, reaching peaks as high as 42 degrees Celsius. It was also stated that "it is likely the heatwave will continue, or even worsen in some areas" for much of the next week. Reporting by Dominique Vidalon Editing By Louise Heavens And David Goodman
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Authorities say that the no-fly zone created by the Iran talks has disrupted flights to and from Zurich Airport.
Aviation authorities confirmed that a technical problem in air 'traffic control', which was triggered by security precautions?for the peace talks between the U.S.A. and Iran?in Switzerland?, caused disruptions? at the Zurich airport?on Sunday. They added that the problem has been resolved. Skyguide, a Swiss air traffic control authority, said that the glitch was caused by the integration of the restricted zone above Buergenstock in radar display systems. This is the Swiss mountain resort, where the negotiations are taking place. According to a statement, the zone was decided only at the last minute as the decision to hold the most recent round of discussions was not finalised until the following Saturday. Skyguide reported that operations have returned to normal. "The systems run smoothly and security is ensured at every time." A spokesperson for the airport said that by midday 12 arrivals had been cancelled and 14 departures. She added that at least 60 departures had been delayed. As outlined in a tentative peace agreement, U.S. Vice-President JD Vance met with Iran on Sunday for peace 'talks' at Buergenstock. However, the diplomacy of the U.S. was overshadowed when Iran announced that it had reimposed a blockade of the Strait of Hormuz. The Swiss government has promised that the talks will be held in a "reliable and discreet setting". This resort is located just over 50 kilometres south of the Zurich airport. Reporting by Alexandra Schwarz Goerlich; Writing by Rachel More, Editing by Barbara Lewis
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Five people killed in Ukraine attack as Crimea suspends fuel sales
The?Russian-installed 'governor' said that four people had been?killed? and 28 others wounded?in a ukranian drone attack against the russian-controlled peninsula Crimea. Local authorities in Russia's Krasnodar Region said that a Ukrainian drone strike on an oil transportation facility confirmed by Ukrainian president Volodymyr Zelenskiy killed one person on a passenger ship and set a?oil storage terminal on fire. The Russian Defence Ministry reported that 239 Ukrainian drones were shot down over night. Crimean Governor Sergei Aksyonov stated that 'fuel stations across peninsula have suspended sales to the public and businesses. Supplies are restricted to government agencies in charge of essential services and security. Ukraine intensified its drone attacks against Crimea, the home of the Russian Black Sea Fleet. The attack targeted the peninsula's fuel supply routes, which triggered a fuel shortage as the holiday season began. Local power grid operators reported "outages" in several areas due to damage to the electricity networks. Ferry traffic across the Kerch Strait, which separates Crimea from Krasnodar, was also temporarily suspended. The authorities also stopped traffic on the bridge connecting?Crimea and Russia's Krasnodar region for more than 9 hours, leaving 11 train running behind schedule. Louise Heavens (Reporting)
US LNG exports reach record levels as Middle East conflict disrupts global supply
LSEG, a financial firm, reported that U.S. exports?of liquefied gas reached a record high in March. This was due to plants running above their nameplate capacity and the addition of new units. The number of shipments to Asia has more than doubled compared to the previous month. This is due to the Middle East conflict that has caused energy markets to be agitated and forced nearly 20% of the global LNG supply to go offline. Customers who depend on cargoes transiting the Strait of Hormuz have been forced to find alternative sources of LNG. The data shows that exports in March increased to 11,7 million metric tonnes, up from 9,94 million tons during February. They also surpassed the previous monthly record of 11 million tons set in December. QatarEnergy stopped LNG production following an Iranian attack on its facilities in the last month. The company has said that the outage may affect more than 12,000,000 metric tons of LNG per year for up to 5 years.
The United States is the world's largest?LNG exporter
The U.S. has the largest LNG exporter in the world. Its commercial model is based on flexible cargoes with destination options that buyers, many of whom have long-term contracts or locked-in supplies, can redirect to any markets. Most producers don't have a lot of spare capacity.
"We're doing everything we can to help." We're looking closely at our maintenance schedules, but at the end, we need to be safe, and reliable. Jack Fusco said that the CEO of U.S. top exporter Cheniere, Jack Fusco, did not want to compromise anything in order to extract every last drop.
However, some new U.S. capacity has begun ramping up. QatarEnergy's and Exxon Mobil’s Golden Pass LNG Project started output from its train which has a capacity of 6,000,000 tons per year, and Cheniere began production from the 1.5 mtpa Train 5 in its Corpus Christi Midscale Expansion. These additions could mean that March's record will be broken again in the near future.
EUROPE RETAINS THE LARGEST BUILDERS
The higher prices in Asia have helped to bring more U.S. gas into the region. In March, the average price of Asian spot LNG was $21.65 per million British Thermal Units. This compares to $16.17 for Dutch benchmark TTF. LSEG's ship tracking data shows that U.S. shipments to Asia increased by more than twice the amount of 970,000 tons shipped in February. Last month, Europe was the biggest buyer of U.S. LNG, taking in 7.49 million tons, or 64% of all March exports. This was slightly less than the 7,66 million?tons?shipped during February.
LSEG data showed that more than 1 million tonnes of U.S. Liquefied Natural Gas (LNG) departed from the United States in March are currently signaling or idling at the entrance to Suez Canal. Eleven vessels with 880,000 tons of LNG are at sea waiting for a destination. Four carriers, totaling 280,000 tons, are anchored near the entrance to the Suez Canal.
Egypt continues to purchase significant volumes. In March, it received 620,000 tonnes. The data revealed that South Africa and Jordan both took one shipment. The number of shipments to Latin America dropped to 430,000 tonnes in March, down from 520,000 tons the previous month. Curtis Williams, Houston (reporting) and Nathan Crooks & Andrea Ricci (editing)
(source: Reuters)