North Asia

The manager of the vessel in Greece that sank earlier this month after it was attacked by Houthi militants near Yemen expressed his relief after watching a video which showed 11 crew members still alive. The Houthis, allied with Iran, released the six-minute video on Monday. They claimed to have rescued seafarers aboard the Eternity C cargo vessel flying the Liberian flag. The Athens based ship management company issued a statement saying that efforts are being made to ensure "safe and rapid return of the sailors to their families". The company said that it was "deeply relieved" to see the...

According to traders and LSEG, India and Taiwan were the top destinations for Russian seaborne Naphtha exports during June. Lower volumes and domestic demand attracted buyers. Naphtha, a feedstock used in the petrochemical sector, is a key ingredient for the production of olefins. These are then used as a raw material to make a variety of products such as plastics. The main destination for Russian naphtha has been the Middle East and Asia since the European Union's embargo against Russian oil products came into force in February 2023. In June, the total export of naphtha from Russian ports to India...

Houthis, who are Iran-aligned and live in Yemen, said on Monday that they had rescued ten seafarers off the Greek cargo ship EternityC which they had attacked and sunk earlier this month in the Red Sea. Eternity C, flying the Liberian flag, was the second vessel to sink in Yemen this month following repeated attacks from Houthi militants using sea drones and rocket propelled grenades. The Magic Seas was another Greek-operated ship that had been lost days before. The Houthis have been resuming their attacks on ships, having hit over 100 vessels between November 2023 to December 2024 as a...

The differentials between Brent and Urals crude were not much different on Friday. However, the falling oil loads from Russia's western port in August helped to support this grade. The daily Russian oil exports to the ports of Primorsk (Ust-Luga), Novorossiisk and Ust-Luga are expected to reach around 1,77 million barrels a day in August. This is down from 1.93 millions bpd as planned in July, due in part, because of the anticipated increase in refinery runs. The daily oil loadings in these ports, including Urals and Kazakh KEBCO as well as Siberian Light grades of oil will decrease by...

Azeri BTC crude oil loadings resumed from Ceyhan on Wednesday, after several days of delays caused by an increased check for chloride contamination. Meanwhile, Russian Black Sea oil loadings have been suspended. Two industry sources said that the two major Russian terminals, Novorissiisk in Russia and Yuzhnaya Ozereevka in Yuzhnaya Ozereevka, were suspended due to paperwork relating to new regulations regarding tankers' access into ports. The suspension will increase the uncertainty on the Mediterranean oil market, which is already jittery after a contamination scare led to the recent delay in loadings of Azeri BTC Crude Oil from the Turkish Port...

The differential between Urals crude and Brent dated remained unchanged on Monday as traders awaited the impact of European sanctions on Russian oil supplies. The UK imposed new sanctions Monday on Russia's "shadow fleet" that includes 135 oil tanks, as well as two Russian companies: shipping company Intershipping Services LLC, and oil trader Litasco Middle East DMCC. The EU approved Friday its 18th package against Russia which includes sanctions against Russia-backed Indian refiner Nayara Energy. Nayara Energy condemned Monday the European Union sanctions against it and said that it was exploring its legal options to combat the latest "restrictive actions."...

According to a presidential decree, foreign vessels must be approved by the FSB to enter the Russian ports. In the decree, it was stated that the FSB (the main successor organization to the Soviet KGB) would be the one to agree with port authorities to allow foreign ships entry. The decree came into effect immediately. Previously, the Transport Ministry set entry rules and there were special procedures in ports near naval bases. It was clear that the new decrete would be applicable to all ports. The new decree did not give any explanation for the change. The West closely monitors...

The differentials between Brent and Urals crudes dated Friday remained unchanged, but premiums for Azeri BTC slid further in the afternoon trading window due to weak demand, traders reported. The European Union agreed on Friday to an 18th set of sanctions against Russia. These include measures that aim to deal further blows with the Russian oil industry and energy sector. EU diplomats have confirmed that the EU will set a price cap for Russian crude oil at 15% less than its average market value. This means that at the moment, the price of a barrel of Russian crude is about...

Shipping sources confirmed on Friday that Greek tanker operators are likely to continue shipping Russian oil approved for export despite the new wave of sanctions by the European Union, which will tighten further restrictions. A large amount of Russian oil is exported now by a "shadow fleet" (unregulated tankers) but shipping data shows that Greek owned ships, which are part of the largest tanker fleet in the world, also carry some of the Russian crude which does not fall within sanctions or exceeds the price cap. The EU agreed on Friday to a 18th package against Russia for its war...

The Investigative Committee of Russia announced on Friday that 135 Russians were sentenced to long prison terms in connection with an anti-Israel mass protest held in October 2023 in the predominantly Muslim Dagestan Region. In the North Caucasus, hundreds of anti-Israel demonstrators stormed the airport of Makhachkala where a plane just arrived from Tel Aviv. The unrest was caused by Israel's conflict with the Palestinian militant group Hamas. Investigators have said that they have collected evidence against 142 individuals and finished investigations into the involvement of 139. Investigators have put the three others on Russia's most wanted list. They are...

On Monday, the difference between Brent and Urals crudes increased as freight rates for Russian oils fell due to higher vessel availability. However, traders expect that this trend will change in light of new sanctions. Donald Trump, the U.S. president, threatened on Monday to impose sanctions on buyers of Russian goods if Russia does not reach a peace agreement within 50 days. This was a significant shift in policy prompted by frustrations with Moscow. Costs for shipping Urals oil to India from the Russian Baltic Sea port of Primorsk or Ust-Luga dropped to $5 to $5.3 million, per one-way shipment,...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch for the accuracy of these stories. After advisers, including Treasury Secretary Scott Bessent, told him that he could achieve trade agreements with more time. After vowing to reinforce Kyiv's defenses against Russian attacks in recent days, U.S. president Donald Trump may send an additional Patriot air-defense systems to Ukraine. Kevin Hassett, the White House's economic adviser, is a serious candidate to become the next chairman of the U.S. Federal Reserve. Apple named Sabih Khan, an insider, as its Chief...

BP, operator of the Baku, Tbilisi, Ceyhan (BTC), oil pipeline, announced on Wednesday that it would continue its extensive quality evaluation of Azeri BTC by taking samples at each loading terminal. Last week, organic chloride contamination was found in Azeri BTC cargoes. This caused a drop in price differentials of four years and caused several days delay in loadings at Turkey's BTC Ceyhan Terminal. Sources say that the extra testing has caused delays in part. A port agent said that after enough oil is poured into the BTC Ceyhan terminal to form a cargo, the test results are presented to...

The press service for the president of Kazakhstan said that the two leaders discussed a possible increase of oil exports from Kazakhstan via the Baku, Tbilisi and Ceyhan (BTC), oil pipeline. The statement did not provide any additional information. "The delegations talked about issues of energy cooperation, including the prospects for increased exports via Baku-Tbilisi Ceyhan oil pipe." Tokayev visited Turkey to attend a high-level meeting of the strategic cooperation council between Turkey and Russia. The agenda included cooperation on power generation, agriculture, and mining. According to state statistics, Kazakhstan increased its oil exports via BTC by 12% in the...

Russia-backed Indian refiner Nayara Energy has reduced operations at its 400,000-barrel-per-day refinery in the aftermath of new European Union sanctions that targeted the firm, five sources familiar with the matter said. Nayara is a privately-held company that runs India's largest refinery in Vadinar, a port located in Gujarat's western state. It controls about 8% of India's total capacity for refining, or 5.2 million barrels per day. Two sources claim that the sanctions against Russia's energy sector and other countries announced on July 18 have made it harder for Nayara, which exports refined products. This has led to storage problems. Sources...

A Belgrade government official said that Serbia had secured the fifth postponement against planned U.S. sanction plans against Russian owned oil company NIS which operates the only oil refinery in the country. The official who requested anonymity did not elaborate further. The U.S. Treasury Department didn't immediately respond to comments. The U.S. Treasury Department did not immediately respond to requests for comment. The plant has a capacity of 4.8 millions tons per year and can cover the majority of the Balkan countries' needs. Sanctions may jeopardize its crude supplies. In 2008, Serbia sold its 51% stake in NIS for 400...

Three sources reported that the prices for Russia's flagship Urals oil, which is scheduled to be delivered to Indian ports by the end of August/early Septembre, have firmed up further. The discount to Brent has been the narrowest it has been since 2022, due to the strong demand for the grade in India and Turkey, and the low supply, according to the sources. The traders reported that spot discounts for Urals crude have narrowed from $1.70 to $2 per barrel on a dated Brent basis to an average of $1.50 to $1.60 on a delivery-ex-ship basis for cargoes arriving into...

Calculations based on two sources indicate that Russia's daily oil output from its western ports is expected to drop from the 1.93 million barrels per days (bpd), which was planned for July, due to an increase in refinery operations. In August, daily oil loadings in Russia from Primorsk and Novorossiisk, as well as from Kazakhstan's KEBCO, and Siberian Light grades of oil will be down 8% from this month. According to calculations based upon data from industry sources, Russia's offline primary refining capacity will drop from 4 million to 3.74 million metric tonnes (about 27.4 millions barrels) in August. The...

A senior commander reported that Starlink systems, used by Ukrainian military forces, were offline for 2 and a half hour overnight. This was part of an issue that affected satellite internet providers worldwide. Ukraine's military forces heavily rely on SpaceX's Starlink Terminals for battlefield communication and drone operations. They have proven resistant to signal jamming and espionage throughout the three-and-a half year war against Russia's invasion. Starlink suffered one of its largest international outages Thursday, when a software malfunction knocked down tens and thousands of users. Robert Brovdi wrote in Telegram on Thursday at 10:41 pm (1941 GMT), the commander...

Two industry sources said that the suspension of oil loading at Russia's Black Sea major ports Novorissiisk & Yuzhnaya Ozereevka is due to paperwork related to the new regulations regarding tanker access to ports. One source said that he thought the situation would be resolved within a few days. The suspension will increase the uncertainty on the Mediterranean oil market, which is already jittery after a contamination scare that led to the recent delay in loadings of Azeri BTC Crude Oil from the Turkish Port of Ceyhan. The Caspian Pipeline Consortium and the Russian Ministry of Transport declined to comment....

Three oil traders and LSEG data indicate that several Greek-managed oil tankers are increasingly avoiding using the Red Sea to transport Russian oil to Asia, choosing instead the longer route through Africa due to the escalating threat of Houthi attacks. Rerouting comes after a deadly drone attack and speedboat attack on a Greek-operated, Liberian flagged bulk carrier, off Yemen earlier this month, in which four seafarers were killed. In July, the Houthi group, which is backed by Iran and has a fleet of speedboats under its control in Yemen, sank a second vessel. This ended a short period of calm....

The energy ministry announced late Wednesday that the second of two nuclear units in Belarus was disconnected from the grid following an alarm signaling a deviation within the cooling system for the non-nuclear portion. The power plant located in Astravets in western Grodno is 15 km away from the border of Lithuania. It has been criticized for safety issues, mostly by neighbouring countries and from international organizations. The Belarusian Energy Ministry said that the situation was routine and did not pose a threat to the plant's safe operation. Radiation levels at the NPP and the monitoring zone surrounding it have...

Dubravka Djedovic Handanovic, Serbian Mining and Energy Minister, said that the talks between Belgrade and Washington over delaying sanctions against Russian owned Serbian oil company NIS a fifth consecutive time were marred by difficulties. NIS has secured a fourth reprieve that is set to expire July 29. This puts Serbia in an unstable position, as it attempts to balance energy security with geopolitical demands. Djedovic handanovic, Serbia's minister of state for RTS TV, said that negotiations are tough because they are between two powerful countries, Russia and America. NIS is owned by Gazprom Neft, a Russian company, and Gazprom. It...

Their governments reported that the leaders of Armenian and Azerbaijan had substantive talks on Thursday in Abu Dhabi, which amounted to their most serious direct discussions yet in an effort to end nearly four decades of conflict. In March, the two sides announced that they had reached an agreement on a draft of a peace accord. However, progress has been slow and sporadic since then. The first official meeting between the Azerbaijani president Ilham Aliyev and Armenian prime minister Nikol Pashinyan in the capital city of the United Arab Emirates was the first since the leaders approved the draft. The...