North Asia

Russian drones attacked Ukraine’s Izmail port in southern Odesa overnight, damaging a civilian Panama flagged?vessel. Ukrainian?officials? said? on Tuesday. Oleksiy Kulba, Ukraine's Vice Prime Minister, said that several strikes had been recorded in the port area. He added that different infrastructure elements and equipment have also been damaged. Kuleba, a Telegram user, said that the enemy was "once again" deliberately targeting critical infrastructure and logistical facilities in the Odesa region. He said that one of the strikes caused a fire which was quickly put out. Ukrainian Sea Ports Authority stated that the port continues to operate. Oleh 'Kiper, Regional Governor...

Data from industry sources show that despite the disruptions caused by drone attacks on key ports in March, Russia's seaborne product exports rose 0.9% compared to February. Drone strikes in late March on the Baltic ports Primorsk, Ust-Luga and the terminal infrastructure caused fires to fuel tanks and storage containers. Meanwhile, persistent storms and further drone strikes forced the port of Novorossiysk at the Black Sea to halt loadings early last month. The traders claimed that a ban on the entry of non-ice class tankers into Russian Baltic ports impacted vessel availability and hampered loadings last month. Data from industry...

Two sources familiar with port operations said that Russia's Black Sea Port?of Novorossiysk?partially resumed oil and fuel loadings? from its Sheskharis Terminal?later?on Thursday? after this week's suspension due to a drone strike. Sheskharis, Russia's largest oil terminal with a capacity to load 700,000 barrels of crude oil per day, suspended oil loadings Monday following a Ukrainian drone attack that started fires in a fuel terminal and at some berths. Oil tanker loading resumed on one berth and only a single cargo of about 80,000 tons is expected to leave Friday. After the strikes, the oil loading schedule would?be trimmed?and it...

Three sources familiar with this matter have confirmed that the Ust-Luga Port has resumed oil exports, despite ongoing drone strikes. LSEG data?showed. According to LSEG and sources, the vessel 'Jewel' left Ust-Luga with 700,000 barrels on board. Loadings had been halted for almost two weeks. The Baltic port is capable of loading up to 700,000 barrels a day. Ust-Luga oil loadings were halted on 25 March after a heavy?drone attack from Ukraine?damaged the port. The attacks have continued during the suspension. Sources said that the Jewel began loading oil at the weekend, but it did not depart immediately due to...

Two sources with knowledge of the situation said that the?crude oil exports from the?Russian Sheskharis terminal in the Black Sea Port of Novorossiysk had been suspended following a massive drone strike and an fire. The Black Sea's main oil outlet is the terminal that?loads approximately 700,000 barrels of crude per day. The suspension of the terminal will increase the strain on Russian infrastructure that has been repeatedly targeted. Sources in the industry say that Russia's main Baltic Ust-Luga Port's oil 'exports' have been suspended since last Monday 'after heavy drone attacks 'and fires. Sources say that Russia is likely to...

According to the registry of authorized companies, Russia's largest producer of liquefied gas, Novatek, has set up a firm to build its own vessels and floating facilities. This is due to a shortage in gas tankers caused by sanctions. Ilya Luschchikov, the?head of Novatek’s Murmansk LNG Project, is responsible for the?new company, Severny Inzhiniring or?Northern Engineering. According to the registry, it was established on March 25. Novatek didn't?reply a?"request for comments. The Western sanctions that were imposed on Russia in 2022 severely limited the number of tankers capable of transporting LNG cargoes. Zvezda is Russia's leading shipbuilder. They specialize in...

According to industry sources, Russia's Baltic oil hubs in Ust-Luga, and Primorsk, are unable to process shipments after a series Ukrainian drone attacks. This has prompted the country's refineries?to 'find alternative routes' for 'export'. At least five attacks on Ust-Luga occurred in a span of 10 days, causing damage to the port infrastructure. Sources claim that the restrictions on exports, as well as disruptions in large refineries, could lead to a drop in oil production in Russia. Since March 22, traders said that refineries have been unable?to deliver diesel fuel for export to Primorsk,?leaving them without their most viable export...

Data from market sources and LSEG revealed that Russia's seaborne gasoil and diesel exports dropped 3% between February and?March to 3.06 million metric tons, as drone attacks disrupted fuel loads at key ports. Sources said that the ultra-low-sulphur Diesel shipments from Primorsk in the Baltic, Russia's largest outlet for diesel exports fell to 1.713 millions tons, down 2.6% since February. Last week, Ukrainian drones repeatedly attacked the Russian Baltic ports Primorsk & Ust-Luga. Following drone attacks, the two ports halted oil and fuel loadings on March 22. The next day, a drone attack caused a fire to break out at...

An industry source said on Wednesday that oil production in Kazakhstan increased by?2% from February as output ramped-up at the giant 'Tengiz' field. Oilfields in the Caspian Sea's northeastern corner have been pumping at lower levels since January 18th, when fires broke out at power stations. This has increased uncertainty on global markets that are battling a lack of oil due to the?U.S. and Israel war against Iran. The source stated that the field produced an average of 700,000 barrels per day in March. This is a 19% increase from February. According to a source it peaked at 978,000 barrels...

Shipping data revealed that a Russian-flagged oil tanker with 700,000 barrels of crude oil docked at Cuba's Matanzas Oil Terminal?on Tuesday. This was the first significant oil shipment to the island after President Donald Trump's Administration cut off the fuel supply. Under U.S. sanction, the Anatoly Kodkin vessel entered Cuban waters late Sunday, not far from Guantanamo's U.S. Navy Base. This was despite U.S. restrictions imposed on oil supplies from Russia to Cuba. The U.S. claimed that it allowed the tanker's crude oil delivery for humanitarian reasons. LSEG data shows that the?Aframax fuel tanker entered Cuba’s largest fuel storage area...

These are the top stories from the business pages of the New York Times. These'stories' have not been verified and we cannot vouch for the accuracy of these stories. In an effort to ease the de facto blockade Washington imposed on Cuba, the United States has allowed a Russian oil tanker to arrive in Cuba. Jonathan Greenberger is the next global editor-in-chief of Politico. Tom Homan, Trump's top border official, said that Immigration and Customs Enforcement (ICE) agents may remain at U.S. Airports even after they are paid again. This is because the shutdown of Homeland Security has caused a...

Jean-Noel Barrot, France's Foreign Minister, said Friday that the U.S. Secretary of State Marco?Rubio?suggested Washington's goal was to destroy Iran’s ballistic capability and that Paris had the same objective of restoring freedom of navigation in the Strait of Hormuz. Barrot, speaking on the sidelines of the G7 in France, said: "I will not speak for Marco Rubio, but I will happily refer to his 'public statements,' which correspond to our conversations today about the stated U.S. objectives. These include the neutralization Iran's missile capabilities. Barrot responded that France shares the same goals as the U.S. regarding the Hormuz region and...

The International Energy Agency reported that Russia's revenue from crude oil and re-fined?products increased in March. They had fallen to their lowest level since the start of the Ukraine conflict in 2022 in February, when prices spiked because of the Iran war. The commodity revenues of Russia are vital to the state budget. They also help support increasing military expenditures. The Paris-based International Energy Agency (IEA)?said that Russia's crude exports increased by 270,000 barrels a day last month, from February, to 4.6 millions bpd. This was mainly due to higher seaborne shipments because the Druzhba Pipeline remained offline. Following the...

Alparslan bayraktar, the Energy Minister of Turkey, said that TPAO, Turkey's upstream oil and 'gas company will'start acquiring shares' in foreign companies as part 'of Ankara’s 'plans 'to develop international partnerships 'to boost its energy exploration. TotalEnergies, a French oil company, announced earlier that it had signed a preliminary agreement to explore 'Turkey’s Black Sea waters in search of hydrocarbons. This is the 'fifth such accord signed by Turkish firms with oil majors this year. "We will soon turn a new page, too." Bayraktar did not elaborate on the fact that TPAO will be entering a new field by purchasing...

According to calculations and data from sources, the freight rates for shipping Russia’s flagship Urals crude to India in April weakened, giving exporters an additional $8 per barrel. The Iran War has caused a'surge' in energy prices that has kept benchmark oil prices above $100 per barrel. Urals, the company’s key Indian market, is now trading at a higher price than the North Sea benchmark. The spike in freight prices last month increased exporters' costs, and reduced the benefits of higher crude oil prices. The rates eased in April as the ice conditions at Russia's Baltic port improved and the...

The Iran War and the closing of the Strait of Hormuz has shattered the status quo among Middle East oil producers that had existed for decades. Even if the current, fragile ceasefire lasts, the uneasy, "new normal" will likely lead to another round of conflict. Tehran has now "demonstrated its ability and its willingness to strike critical infrastructure in the region and seal off the crucial waterway, changing the risk calculation for its neighbors and jeopardizing the long-term oil and gas strategies of Gulf countries. The six-week conflict exposed deep tensions among?the Islamic Republic's key regional neighbors Saudi Arabia, the...

Trading and port sources reported that Russia's crude exports increased in early April, compared to March. Calculations also showed this, despite the disruptions to loadings caused by drone attacks on energy infrastructure. In late March, Ukraine increased drone attacks against Russian oil export ports on the Baltic Sea, Black Sea, and major Russian refineries. This could lead to the state cutting its crude production due to disruptions in supply chains. Three trading sources and port sources reported that the Baltic ports of Primorsk, Ust-Luga and Novorossiisk loaded a total of about 2 million barrels of crude oil per day in...

Ukraine has made significant improvements in restoring the damaged Druzhba pipeline and will finish the repairs by spring, said President Volodymyr Zelenskiy, amid a "bitter dispute" with Hungary over the disruption of Russian oil supplies. Hungary and Slovakia are no longer receiving Russian oil via Druzhba after a drone attack in Ukraine damaged the pipeline. Hungarian and Slovak governments, who have both maintained close energy and political ties with Russia ever since the invasion of Ukraine by Russia in 2022, accuse Kyiv for delaying repairs. Ukraine denies this. We will finish the repairs, because we agreed to it. Zelenskiy said...

For now, the war that shut down the Strait of Hormuz is over. Tehran's insistence on acting as the toll booth keeper at this world-critical oil chokepoint may leave energy markets exposed and lead to higher prices for many years. According to U.S. president Donald Trump, the U.S., Iran and Pakistan agreed on Tuesday to a ceasefire for two weeks, mediated by Pakistan. Tehran must halt its blockade against oil and gas traffic in the Strait. According to an Iranian official, the waterway through which a fifth (21 miles) of the world's oil and natural gas passed before the U.S./Israeli...

Officials from Ukraine said that Russian drones destroyed a substation in the southern Odesa region of Ukraine on Wednesday. Meanwhile, Moscow's forces repeatedly attacked areas further east, killing one person. Oleh Kiper, regional governor of Odesa region, said that emergency services were on the scene and there had been no reported injuries. DTEK is a large energy company. It said that?one of their substations was damaged. Crews were waiting for word to start repairs. DTEK stated that the area had been under Russian attack "almost around the clock". Ukraine's energy infrastructure has been attacked for months. In the four-year conflict,...

Russian drones destroyed a power station in Ukraine's southern Odesa region, officials said. Meanwhile, Moscow's forces attacked areas further east repeatedly, killing one person and injuring eight others. Oleh Kiper said in Telegram that emergency services were still at the scene of the attack. He stated that no injuries were reported. DTEK is a large private energy company. One of its substations was damaged. Crews waited for word to start repairs. DTEK claimed that the area had been under Russian attacks "almost around the clock". Ukraine has been attacked by the Russian military for several months. The Black Sea port...

Russia claimed on Wednesday that certain political forces in the European Union are opposed to the reelection bid for?Hungarian Premier Viktor Orban and are trying to assist?his opponents. The Kremlin intervened a day after U.S. vice president JD Vance accused the EU in Budapest of "disgraceful interference" in the April 12, election. Many opinion polls indicate that this could put an end to Orban’s 16-year hold on power. When asked about the leaked transcript of a conversation between Orban and Russian president Vladimir Putin, Dmitry Peskov, Kremlin spokesperson, said: "Many forces, both in Europe and in Brussels, do not want...

In recent weeks, Ukraine has intensified its attacks on Russian energy installations as peace talks failed to make progress. Here is a brief summary of the recent attacks and their impact. NORSI NORSI is Russia's fourth largest oil refinery and owned by Lukoil. It suspended operations after a drone attack in Ukraine on April 5, according to two industry sources. NORSI is Russia's second-largest gasoline producer. It can process up to 16 million metric tons of oil each year or 320,000 barrels of fuel per day. Sources say that KIRISHI Russia’s?Kirishi refinery could partially restart in a month after processing...

Ukraine's regional development ministry reported on Telegram that a 'Russian drone attack' overnight on Ukraine's largest Danube River port, Izmail, had damaged a port facility. The ministry stated that "the enemy continues to target port infrastructure and logistics." The 'Telegram Post' reported that fires had broken out in warehouses, but were put out by emergency services. No one was injured. Izmail is located on the Danube, at the southernmost?tip? of Ukraine. It faces the territory of Romania on the other river bank. It is a key and often-hit logistical node in wartime Ukraine. In 2022, after Russia blocked Ukraine's Black...