Latest news with #StephenStapczynski
Bloomberg
21-05-2025
- Business
- Bloomberg
Oil Jumps on Report of Israel Plans to Strike Iran
Oil climbed following a CNN report that new US intelligence suggests Israel is preparing for a potential strike on Iranian nuclear facilities. Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks. Bloomberg's Stephen Stapczynski reports. (Source: Bloomberg)
Mint
21-05-2025
- Business
- Mint
EU Sanctions Ships That Moved LNG From Russia's Yamal Plant
The European Union imposed sanctions on three vessels that helped move gas cargoes from Russia's Yamal LNG project, further squeezing Moscow's energy revenues. The North Moon, North Ocean and North Light were included in the 17th package of sanctions adopted by the European Council on Tuesday. The vessels are managed by Tokyo-based Mitsui OSK Lines Ltd., a leading operator of LNG carriers, according to shipping database Equasis. The surprise sanctions on vessels from an established shipping company highlight the EU's mounting efforts to push Moscow into a peace deal with Ukraine, addressing workarounds to previously imposed restrictions. The EU recently banned transshipments of Russian liquefied natural gas bound for Asia at European ports, so the country has moved such operations to near its port of Murmansk. That added time to journeys to China, but allowed the Yamal LNG plant to continue sending its cargoes. The vessels are 'operated in such a way as to contribute or support actions or policies for the exploitation, development or expansion of the energy sector in Russia, including energy infrastructure,' the European Council said in a published list of restrictions. Mitsui OSK Lines confirmed that the three vessels are under its management. 'We intend to fully cooperate with the EU and Japanese governments in complying with the sanctions,' the company said in a statement to Bloomberg News. 'We will consult with various parties and take appropriate measures.' Novatek PJSC, the majority shareholder of Yamal LNG, didn't immediately respond to requests for comment. Past Western restrictions focused on the so-called shadow fleet suspected of moving cargoes from the sanctioned Arctic LNG-2 project. The three vessels recently helped move cargoes from Yamal LNG, which is not under sanctions. They loaded cargoes transshipped near the port of Murmansk, where cargoes arrive on ice-class ships directly from the plant, according to shipping data compiled by Bloomberg. The EU's ban on transshipments of Russian LNG in European came into effect on March 26. None of the three vessels delivered the cargoes to Europe since then, heading to China and Taiwan instead, according to data compiled by Bloomberg. With assistance from Alberto Nardelli, Stephen Stapczynski, John Ainger and Reina Sasaki. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
28-04-2025
- Business
- Bloomberg
Trump Tariffs on Steroids Will Rewire Solar Supply Chains
Welcome to our guide to the commodities markets powering the global economy. Today, Asia energy team leader Stephen Stapczynski discusses how US tariffs on Southeast Asia could prompt solar factories to move to the Middle East and India. The latest round of sky-high tariffs against Asian solar equipment makers threatens to further squeeze top Chinese manufacturers while also providing opportunities for their rivals.
Bloomberg
16-04-2025
- Business
- Bloomberg
Asia's Promises to Buy More US Gas May Prove Empty
Welcome to our guide to the commodities markets powering the global economy. Today, Asia energy team leader Stephen Stapczynski takes a closer look at moves by countries in the region to buy more US gas. Asian gas importers are pledging to buy more fuel from America in a scramble to appease a tariff-happy president. But there's no guarantee these promises will translate into purchases.
Bloomberg
19-03-2025
- Business
- Bloomberg
‘Drill, Baby, Drill' Mantra Set to Make US LNG Exports Less Competitive
Welcome to Energy Daily, our guide to the commodities markets powering the global economy. Today, US reporter Ruth Liao and Asia Energy Team Leader Stephen Stapczynski look at how the White House's 'drill, baby, drill' policy may have repercussions for domestic liquefied natural gas. President Donald Trump's push to make oil cheap again and rein in inflation may end up triggering unforeseen, and negative, consequences for US LNG exporters. The reason is that most liquefied natural gas producers abroad price their long-term contracts to a percentage of the benchmark oil price, an industry practice dating to the 1970s. The US, meanwhile, links the vast majority of its shipments to the domestic gas marker known as Henry Hub.
