US Plans 35% Stake in Venezuelan Businessman’s Oil Venture
The US plans to acquire a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners.
News / International
Russia Extends Diesel Export Ban Until September 30
The US plans to acquire a 35% passive stake in Venezuelan businessman Alejandro Betancourt’s North American Blue Energy Partners, according to the Wall Street Journal.
Shell Ends Schwedt Refinery Stake Sale Talks with Poland’s Unimot
British oil major Shell has ended negotiations to sell its 37.5% stake in Germany’s PCK Schwedt refinery to Polish energy company Unimot, Reuters reported, citing Bloomberg News.
Strait of Hormuz Ship Traffic Remains Well Below Average Amid Ongoing Regional Tensions
Ship traffic through the Strait of Hormuz remained significantly below normal levels on August 25, with only five commodity vessels crossing the key energy chokepoint, according to preliminary data from shipping tracker Kpler cited by Reuters.
The number of vessels was well below the 10-day average of 15 crossings. Two liquefied petroleum gas (LPG) tankers and one bitumen tanker exited the Gulf, while two empty product tankers entered from the Gulf of Oman.
Indian Refiners, Global Energy Major Halt Use of Iran-Blacklisted Ships
Iran’s blacklist of 45 vessels has prompted at least three Indian refiners and a global energy major to avoid the ships, including for ship-to-ship transfers, amid rising security risks in the Strait of Hormuz.
US Sanctions Wellbred Capital Over Links to Iranian Oil Network
The US has sanctioned Wellbred Capital and affiliated trading firms over alleged links to Iranian oil shipping magnate Mohammad Hossein Shamkhani and his global shipping network.
Aramco Signs Agreements Worth More Than $3.7 Bn With French Companies
Saudi Aramco has signed agreements and an MoU with French companies worth more than $3.7 billion, targeting supply chain resilience, drilling equipment procurement, and industrial AI and digital technology development.
TotalEnergies Moves Discounted Oil Through Hormuz as CEO Eyes Alternative Export Routes
TotalEnergies is moving discounted Middle Eastern crude through the Strait of Hormuz at a profit, even as higher shipping costs and security risks continue to restrict traffic through the waterway, CEO Patrick Pouyanne said at a Norwegian energy conference on Monday, Reuters reported.
Sinopec Reports 19.3% H1 Profit Increase Despite Lower Refining Volumes
Sinopec, China’s state-owned oil and gas giant, is expanding its energy operations amid shifting domestic demand and global market uncertainty.
Shell’s US Chemical Assets Attract Interest From ExxonMobil, LyondellBasell
Shell is considering selling its US chemicals business, valued at up to $8 billion, with ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum’s chemicals arm reportedly interested.
