Latest news with #TrixieYap
Yahoo
6 days ago
- Business
- Yahoo
India's Nayara exports first gasoline since sanctions, sources say
By Nidhi Verma and Trixie Yap NEW DELHI/SINGAPORE (Reuters) -Russia-backed Indian refiner Nayara Energy has exported its first gasoline cargo since the privately-owned company was sanctioned by the European Union on July 18, according to four shipping sources and LSEG data. The tanker Tempest Dream, carrying about 43,000 metric tons (363,350 barrels) of gasoline, sailed on Monday, according to the sources and LSEG shipping data. The vessel, sanctioned by Britain in June, is headed to Sohar, Oman, shipping data showed, although buyer details could not be verified. Mumbai-based Nayara Energy did not immediately respond to a Reuters request for comment. A second vessel, the Sard, is currently at the western Indian port of Vadinar used by Nayara, set to lift about 43,000 tons of diesel, according to two sources and LSEG shipping data. Nayara has been forced to reduce crude runs at its 400,000-barrel-per-day refinery in Vadinar due to difficulties in obtaining ships and selling fuel from the port in the wake of the sanctions, Reuters has reported. Nayara, which runs 6,600 fuel stations in India, has approached state fuel retailers for domestic sale of products, industry sources have said. It recently used tanker Leruo to move about 43,000 tons of diesel to Mundra port in western India, data from traders and Kpler shiptracking showed. The Leruo and Sard have been sanctioned by the EU since July and May respectively. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
31-07-2025
- Business
- Yahoo
Ships carrying fuel from India's Nayara refinery in limbo, sources say
By Trixie Yap SINGAPORE (Reuters) -Three vessels laden with oil products from India's Nayara Energy have yet to discharge their cargoes, hindered by new EU sanctions on the Russia-backed refiner, according to shipping data and sources. Nayara Energy, which runs India's third-biggest refinery, is majority-owned by Russian entities, including oil major Rosneft. It was hit with European Union sanctions on July 18 targeting Russia and its oil trade, causing shippers and traders to shun dealing with its cargoes. The Panamax-sized tanker Alora, chartered by Nayara Energy and carrying around 60,000 metric tons (472,800 barrels) of jet fuel loaded in early June, has been anchored off Portugal's Sines port since arriving there on July 18, Kpler and LSEG data showed. The cargo has been paid for, said a person familiar with the matter. However, the vessel has been unable to discharge as some EU oil surveyors and other companies are reluctant to deal with products linked to a sanctioned entity, according to the person and a second source. Reuters was not able to learn the identity of the buyer. Sources for this article were not authorised to speak to media and declined to be identified. Nayara Energy did not immediately respond to a Reuters request for comment. It typically sells at least 2-3 spot cargoes of diesel and jet fuel per month. The refiner, which called the sanctions unjustified and illegal, has been forced to reduce operations at its 400,000-barrels-per-day crude unit due to fuel storage constraints. Some vessel owners have also asked to end their contracts, sources have said. TWO MORE TANKERS A second Panamax tanker, Em Zenith, had been scheduled to arrive at Malaysia's Tanjung Pelepas port this Thursday, but it reversed course on Tuesday and is anchored in the Straits of Malacca, Kpler and LSEG data showed. The Singapore-flagged ship is carrying around 40,000 tons of diesel loaded from Nayara Energy's Vadinar port in mid-July, according to the data. The cargo was likely intended to be used for bunker fuel blending, several industry sources said. Equatorial Marine owns Em Zenith, according to two shipbroking sources. The firm, a major bunker supplier in Singapore, did not immediately reply to a request for comment. A third tanker, Panamax-sized Pacific Martina, chartered by Shell, has been floating near the Gulf of Oman since last week after receiving 60,000 tons of jet fuel from Vadinar port on July 18. The cargo has yet to find a buyer, said the first source. Shell declined to comment. Last week, a crude tanker was diverted away from Nayara Energy's Vadinar port, and two product tankers skipped planned diesel loadings from the refiner.
Hindustan Times
30-07-2025
- Business
- Hindustan Times
Ships carrying fuel from India's Nayara refinery in limbo, sources say
* Ships carrying fuel from India's Nayara refinery in limbo, sources say Tanker Alora floats off Portugal with jet fuel onboard - data * Em Zenith, carrying diesel, anchored in the Straits of Malacca - data * Shell-chartered Pacific Martina drifts in Gulf of Oman - data By Trixie Yap SINGORE, - Three vessels laden with oil products from India's Nayara Energy have yet to discharge their cargoes, hindered by new EU sanctions on the Russia-backed refiner, according to shipping data and sources. Nayara Energy, which runs India's third-biggest refinery, is majority-owned by Russian entities, including oil major Rosneft . It was hit with European Union sanctions on July 18 targeting Russia and its oil trade, causing shippers and traders to shun dealing with its cargoes. The Panamax-sized tanker Alora, chartered by Nayara Energy and carrying around 60,000 metric tons of jet fuel loaded in early June, has been anchored off Portugal's Sines port since arriving there on July 18, Kpler and LSEG data showed. The cargo has been paid for, said a person familiar with the matter. However, the vessel has been unable to discharge as some EU oil surveyors and other companies are reluctant to deal with products linked to a sanctioned entity, according to the person and a second source. Reuters was not able to learn the identity of the buyer. Sources for this article were not authorised to speak to media and declined to be identified. Nayara Energy did not immediately respond to a Reuters request for comment. It typically sells at least 2-3 spot cargoes of diesel and jet fuel per month. The refiner, which called the sanctions unjustified and illegal, has been forced to reduce operations at its 400,000-barrels-per-day crude unit due to fuel storage constraints. Some vessel owners have also asked to end their contracts, sources have said. TWO MORE TANKERS A second Panamax tanker, Em Zenith, had been scheduled to arrive at Malaysia's Tanjung Pelepas port this Thursday, but it reversed course on Tuesday and is anchored in the Straits of Malacca, Kpler and LSEG data showed. The Singapore-flagged ship is carrying around 40,000 tons of diesel loaded from Nayara Energy's Vadinar port in mid-July, according to the data. The cargo was likely intended to be used for bunker fuel blending, several industry sources said. Equatorial Marine owns Em Zenith, according to two shipbroking sources. The firm, a major bunker supplier in Singapore, did not immediately reply to a request for comment. A third tanker, Panamax-sized Pacific Martina, chartered by Shell, has been floating near the Gulf of Oman since last week after receiving 60,000 tons of jet fuel from Vadinar port on July 18. The cargo has yet to find a buyer, said the first source. Shell declined to comment. Last week, a crude tanker was diverted away from Nayara Energy's Vadinar port, and two product tankers skipped planned diesel loadings from the refiner. This article was generated from an automated news agency feed without modifications to text.
Yahoo
08-05-2025
- Business
- Yahoo
Exclusive-US sanctions on China refiners over Iran oil disrupt operations, sources say
By Siyi Liu, Trixie Yap and Chen Aizhu SINGAPORE (Reuters) -Recent U.S. sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington's stepped-up pressure is inflicting on Tehran's biggest oil buyer. The targeting of independent refiners, known as teapots, marked an escalation in Washington's efforts to cut off Tehran's export revenue as President Donald Trump seeks to pressure Iran into a deal over its nuclear programme. Washington's sanctions against Shandong Shouguang Luqing Petrochemical in March and Shandong Shengxing Chemical in April have also begun to deter other, larger independent Chinese refiners from buying Iranian crude, three of the sources said. About five plants in the refining hub of Shandong province have halted purchases of Iranian oil since last month, worried about being hit by sanctions, two trading executives said. That wariness is the main reason discounts for Iranian Light have widened to $2.30-$2.40 a barrel against ICE Brent from about $2 a month ago, the executives and another source said. Among the inconveniences faced by the two sanctioned teapots, state-run Shandong Port Group, the main port operator in the province, has denied entry to vessels loaded with crude they have purchased, five trade sources said. That follows the port group's January ban on port calls by U.S.-sanctioned tankers. Shandong Port Group and Shengxing did not respond to requests for comment. A Luqing executive declined to comment. Large state banks have also stopped providing Luqing with operational capital for purchasing crude, forcing it to work with smaller banks, four of the sources said. The sources declined to be identified due to the sensitivity of the matter. Beijing says it opposes unilateral sanctions and defends as legitimate its trade with Iran, which ships about 90% of its oil exports to China. However, Chinese customs data has not shown any oil shipped from Iran since July 2022, with Iranian crude imports instead labelled as originating from Malaysia or other countries. SHIPPING, SALES HEADACHES The Shandong Port Group's banning of cargoes for the two refineries has forced them to discharge at other ports, according to three sources. In one case, the tanker Bei Hai Ming Wang carrying oil for the Shengxing refinery was rejected when it sought to land at the Laizhou port, controlled by Shandong Port Group, around April 21, according to a source familiar with the matter. It eventually unloaded on May 2 at the privately owned Wantong Crude Oil Terminal in neighbouring Dongying, data from analytics firm Vortexa showed. In another sign of trading disruption from the sanctions, two Asia-based oil product traders who had previously dealt with Luqing said they stopped doing so after it was sanctioned. In addition, no shipments of gasoline blendstock have been recorded since the end of March out of Laizhou port, used by Luqing for most of its blendstock exports, Kpler and LSEG shiptracking data showed. That contrasts with the first three months of this year when 83,000 metric tons (701,000 barrels) of methyl tertiary butyl ether, a key gasoline blendstock export, were shipped from Laizhou, accounting for 15% of China's total outflow of the blendstock. State giant CNOOC stopped supplying crude to Shandong Haihua Group's 40,000 barrel-per-day refinery, operated by Luqing, shortly after the U.S. sanctions were announced, three trade sources and a Shandong-based Chinese oil market consultant said. CNOOC did not respond to a request for comment. Calls to Haihua went unanswered. The two teapots have also begun selling product through new entities, according to seven trade sources, with Luqing using Shouguang Jiaqing Petroleum Sales and Shengxing selling via Shandong Xuxing Petrochemical. Calls to the two entities seeking comment went unanswered.
Yahoo
08-05-2025
- Business
- Yahoo
Exclusive-US sanctions on China refiners over Iran oil disrupt operations, sources say
By Siyi Liu, Trixie Yap and Chen Aizhu SINGAPORE (Reuters) -Recent U.S. sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington's stepped-up pressure is inflicting on Tehran's biggest oil buyer. The targeting of independent refiners, known as teapots, marked an escalation in Washington's efforts to cut off Tehran's export revenue as President Donald Trump seeks to pressure Iran into a deal over its nuclear programme. Washington's sanctions against Shandong Shouguang Luqing Petrochemical in March and Shandong Shengxing Chemical in April have also begun to deter other, larger independent Chinese refiners from buying Iranian crude, three of the sources said. About five plants in the refining hub of Shandong province have halted purchases of Iranian oil since last month, worried about being hit by sanctions, two trading executives said. That wariness is the main reason discounts for Iranian Light have widened to $2.30-$2.40 a barrel against ICE Brent from about $2 a month ago, the executives and another source said. Among the inconveniences faced by the two sanctioned teapots, state-run Shandong Port Group, the main port operator in the province, has denied entry to vessels loaded with crude they have purchased, five trade sources said. That follows the port group's January ban on port calls by U.S.-sanctioned tankers. Shandong Port Group and Shengxing did not respond to requests for comment. A Luqing executive declined to comment. Large state banks have also stopped providing Luqing with operational capital for purchasing crude, forcing it to work with smaller banks, four of the sources said. The sources declined to be identified due to the sensitivity of the matter. Beijing says it opposes unilateral sanctions and defends as legitimate its trade with Iran, which ships about 90% of its oil exports to China. However, Chinese customs data has not shown any oil shipped from Iran since July 2022, with Iranian crude imports instead labelled as originating from Malaysia or other countries. SHIPPING, SALES HEADACHES The Shandong Port Group's banning of cargoes for the two refineries has forced them to discharge at other ports, according to three sources. In one case, the tanker Bei Hai Ming Wang carrying oil for the Shengxing refinery was rejected when it sought to land at the Laizhou port, controlled by Shandong Port Group, around April 21, according to a source familiar with the matter. It eventually unloaded on May 2 at the privately owned Wantong Crude Oil Terminal in neighbouring Dongying, data from analytics firm Vortexa showed. In another sign of trading disruption from the sanctions, two Asia-based oil product traders who had previously dealt with Luqing said they stopped doing so after it was sanctioned. In addition, no shipments of gasoline blendstock have been recorded since the end of March out of Laizhou port, used by Luqing for most of its blendstock exports, Kpler and LSEG shiptracking data showed. That contrasts with the first three months of this year when 83,000 metric tons (701,000 barrels) of methyl tertiary butyl ether, a key gasoline blendstock export, were shipped from Laizhou, accounting for 15% of China's total outflow of the blendstock. State giant CNOOC stopped supplying crude to Shandong Haihua Group's 40,000 barrel-per-day refinery, operated by Luqing, shortly after the U.S. sanctions were announced, three trade sources and a Shandong-based Chinese oil market consultant said. CNOOC did not respond to a request for comment. Calls to Haihua went unanswered. The two teapots have also begun selling product through new entities, according to seven trade sources, with Luqing using Shouguang Jiaqing Petroleum Sales and Shengxing selling via Shandong Xuxing Petrochemical. Calls to the two entities seeking comment went unanswered.
