Sharon (Ji Hyun) Cho

[Sharon (Ji Hyun) Cho @iamsharoncho]

Reliance will have to undergo STS transfers of four smaller Aframax onto 1 VLCC to get ~2m bbls of Canada's heavy crude Access Western Blend delivered by July.

That comes as heavier barrels, including Venezuelan crude, remain squeezed.
#OOTT

[Bloomberg Markets @markets]

A dearth of heavy crude is forcing one of the world’s biggest buyers, Reliance, to go the extra mile to get the barrels it needs https://t.co/GsgiztVHxp

[Alex Longley @alexlongley1]

A cap on the price of Russian oil is becoming increasingly unenforceable, an organization at the heart of the global marine insurance industry says
https://t.co/VaKx04sGfs via @markets #OOTT

[Sharon (Ji Hyun) Cho @iamsharoncho]

In Asia, a sharp drop in returns from making diesel is prompting some refiners to make modest reductions in operating rates, which could crimp regional oil imports. A major S. Korean refiner cut activity from this month, with another mulling a reduction in July.
#OOTT #Oil

[Rakesh Sharma @journorakesh]

A vessel owned by sanctioned #Russian tanker giant PJSC #Sovcomflot is heading to India, a signal that flows using the state-owned company’s fleet to the key Asian market may be resuming after a pause. with @iamsharoncho #oil #sanctions https://t.co/NGOfL9JS9X

[Dan Tsubouchi @Energy_Tidbits]

Good reminder #OPEC cuts are first to medium sour crudes, which typically leads to bigger spot premiums & refiner margins for these crudes.

Refiners that run on medium sour need medium sour, not light.

So medium sour crudes like Cdn WCS benefit.

Thx @iamsharoncho

#OOTT

[Rakesh Sharma @journorakesh]

Three tankers hauling Russian Sokol cargoes are anchored near Indian ports, indicating trade of the crude grade is returning despite complications caused by tougher US sanctions. by @JLeeEnergy & @iamsharoncho. https://t.co/yqxBchsr1C

[Bloomberg @business]

The waters off Oman are emerging as a hot spot for ship-to-ship transfers of Russian oil heading to India, as the US steps up scrutiny of the flows https://t.co/uQkSsay2GO

[Olga Tanas @olyatanas]

#Russia's refiners processed 5.03m b/d of crude from March 14 to 20, the the lowest weekly level in ten months after a flurry of Ukrainian drone attacks hit several major facilities
https://t.co/KRB0TOF0O9

[Giovanni Staunovo🛢 @staunovo]

#India Stops Taking Russian Oil Delivered on Sovcomflot Tankers

Refiners scrutinize shipowners to avoid US sanctions fallout

Sovcomflot said this week penalties put pressure on operations

#oott #Russia
https://t.co/h9LHsepuKg

[Rakesh Sharma @journorakesh]

#Indian #oil refiners are on track to take the most American crude in almost a year after tighter enforcement of US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. with @iamsharoncho https://t.co/0n94BW6Rp8

[Yongchang Chin @yongchang_chin]

Longstanding warnings that too few oil tankers are being built are coming back to haunt the global energy market; just two new supertankers are due to join the fleet in 2024 https://t.co/nmMPZi3mrD via @markets @iamsharoncho

[Rakesh Sharma @journorakesh]

The world is on the cusp of what’s likely to be the last big refining boom as #India embarks on a capacity expansion to accommodate the country’s rising thirst for #fossilfuels. with @iamsharoncho #oil https://t.co/vfIyywRheU

[Pytheas @PytheasThe]

Pop in freight rates reverberates through the Global Oil Market - Higher costs spur Asian buyers to favor Mideast crude over US

| @business @iamsharoncho #FreightRates #Oil #Energy
https://t.co/tXr6e1oXoK

[Yongchang Chin @yongchang_chin]

The cost of insuring ships for Red Sea transit jumps again after mounting attacks in the region forced some ships to avoid the vital waterway https://t.co/w5fLNoXxFJ via @business

[Sharon (Ji Hyun) Cho @iamsharoncho]

In Asia, crudes similar to those being withheld by Saudi Arabia are plunging in a latest sign of fundamental weakness. Medium-sour varieties are losing their appeal as demand from China wanes and more prompt cargoes are made available.

Full story: https://t.co/Sgvf80qeQN
#oott

[Stephen Stapczynski @SStapczynski]

HOW ENERGY TRADERS LEFT A COUNTRY IN THE COLD

Pakistan, one of the world’s poorest nations, thought it had secured natural gas to fuel its economy

Commodities firms had other ideas

Full story with @FaseehMangi 👇

https://t.co/NHVZMEy7WM

[Bloomberg @business]

The #COP28 agreement reached in Dubai has its flaws. But it still marks an historic moment in the climate fight - and probably signals the beginning of the end for fossil fuels, @JavierBlas writes #OOTT https://t.co/O0B5L6B5LZ via @opinion

[Patrick De Haan @GasBuddyGuy]

EIA data, week ending 12/8
Crude oil: -4.3M
Domestic prod: 13.1MMbpd
SPR: NC
Cushing: +1.2M
Gasoline: +0.4M
Impld mogas demand: 8.86Mbpd
Distillates: +1.5M
Refiner utilz: 90.2%
Total exports: 10.3MMbpd
#oilandgas #OG #OOTT #gasbuddy #eia

[Sharon (Ji Hyun) Cho @iamsharoncho]

@yongchang_chin @elizabethlow Meanwhile, another tanker Liberty, which was also carrying Venezuelan fuel oil, got its cargo removed after running aground in Southeast Asia earlier this month:

https://t.co/c0mtGXn78m

[Sharon (Ji Hyun) Cho @iamsharoncho]

VENZ FUEL OIL: Asia saw a sudden influx of Venezuelan fuel oil, with 3 VLCCs discharging their cargoes last month.
There's little info on the charterers, but increased flows coincide with China getting extra fuel oil import quotas. Platts HSFO window has also been active.
#OOTT

[Sharon (Ji Hyun) Cho @iamsharoncho]

Full story with @yongchang_chin and @elizabethlow here:
https://t.co/6Ed9dJi4O3