The Islamic Revolutionary Guard Corps said on Monday that two oil tankers had exploded and been immobilised after attempting to transit what it described as an unsafe southern route through the Strait of Hormuz, alleging they had been encouraged by the U.S. military to use the passage. Reuters could not immediately verify the incident. The statement gave no details on the vessels' names, flags, crews or any casualties. The Guards said the waterway would remain unsafe as long as what it [Read more]
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Brent oil tops $90 as US, Iran intensify attacks in Middle East
Oil prices jumped 3% on Monday, with Brent surpassing $90 a barrel, as the United States and Iran expanded attacks in the Middle East that have curbed energy shipments in the Strait of Hormuz. Brent crude futures climbed $2.69, or 3.05%, to $90.79 by 2343 GMT, touching the highest since June 11, extending gains after rising 15.9% last week, its biggest weekly gain since April. U.S. West Texas Intermediate crude was at $84.68 a barrel, up $2.19, or 2.65%, the loftiest since June 12. [Read more]
Few tankers enter Hormuz to load oil, data shows
The number of ships transiting the Strait of Hormuz stayed low during the weekend as the United States and Iran intensified attacks in the Middle East, shipping data showed on Monday. Four vessels made the crossing on Sunday, down from eight the previous day, data from LSEG showed. At least three oil products tankers and one Very Large Crude Carrier have entered the strait since Friday to load oil, the data showed. LSEG data covers transit for container ships, bulkers, vehicle carriers, [Read more]
Kuwait condemns what it calls Iranian attack on power, water desalination facility
The Kuwaiti Foreign Ministry condemned on Sunday what it described as an Iranian attack on a power generation and water desalination facility, calling it a direct strike on vital civilian infrastructure. The repeated targeting of civilian facilities amounted to a dangerous escalation and violated international law, the U.N. Charter and U.N. Security Council Resolution 2817, the ministry said in a statement. It said Iran bore full legal and moral responsibility for the attack and its [Read more]
Caspian Pipeline Consortium oil loadings suspended after drone attacks on tankers, CPC says
Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended. The ASIA and NISSOS IOS tankers were attacked during loading operations, CPC said. The ASIA tanker caught fire, which was extinguished, it added. "There were no injuries or fatalities amongst CPC staff or contractors. There was no oil spill," CPC said, adding that the tankers remained afloat. CPC did not identify any party [Read more]
Iran’s Supreme Leader says US breaches show Trump’s signature is ‘worthless’
Iran's Supreme Leader Mojtaba Khamenei said in a written statement on Saturday that repeated U.S. breaches of a memorandum of understanding signed by the presidents of Iran and the United States had shown that President Donald Trump's signature was "utterly worthless and devoid of credibility." Washington and Tehran have exchanged strikes after a ceasefire agreement fell apart last week, raising fears of a return to all-out war. Khamenei said the United States should know that the Iranian [Read more]
Kuwait Petroleum Corporation reports damage and injuries from Iranian attacks, state media says
Kuwait Petroleum Corporation said one of its oil facilities was hit on Saturday by "repeated Iranian attacks", resulting in significant material damage and some injuries, according to Kuwait’s state news agency. (Reporting by Jana Choukeir and Yasmine Ghania; Editing by Alison Williams) [Read more]
Two oil tankers exploded after passing through mined route south of Strait of Hormuz, Iran’s state TV reports
Two oil tankers exploded and caught fire after passing through a mined route south of the Strait of Hormuz, Iran's state TV reported early on Saturday, citing a statement from Iran's Revolutionary Guards. (Reporting by Menna Alaa El-Din; Editing by Chris Reese) [Read more]
Irving Oil’s refinery in Saint John, New Brunswick, to begin fall turnaround in September
Irving Oil's 320,000-barrel-per-day refinery in Saint John, New Brunswick, will begin a two-month turnaround in September, the company said on Friday. The fall turnaround project, is expected to begin in September and continue till mid-November, the company said on its website. Saint John, Canada’s largest refinery, supplies fuel across markets in Atlantic Canada and the U.S. Northeast. The company had conducted a turnaround last year, which cost nearly $40 million, and included [Read more]
Western oil companies see ‘fantastic’ future in Iraq, sign agreements
Western energy companies on Friday signed dozens of agreements with Iraqi officials on oil and gas and pipelines as the OPEC member seeks to deepen relations with the U.S. and develop alternatives to the Strait of Hormuz for getting its energy to global markets. "We are using an open-door policy," Prime Minister Ali al-Zaidi said through a translator at a U.S.-Iraq business summit at the U.S. Chamber of Commerce where Iraqi officials and U.S. energy, healthcare and technology companies signed [Read more]
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