Suez Canal’s claim over once-stuck ship referred by court
CAIRO (AP) — An Egyptian appeals court said Sunday it lacks jurisdiction to look into the Suez Canal Authority’s demands to uphold financial claims that led to the seizure of Continue Reading
Egypt plans Suez Canal expansion after vessel was grounded
Egypt on Tuesday announced plans to widen and deepen the southern part of the Suez Canal where a hulking vessel ran aground and closed off the crucial waterway in March. Continue Reading
Can Libya’s Oil Industry Make A Comeback In 2021?
The creation of Libya’s interim government has instilled the international community with tacit hopes of a decade-long conflict finally coming to an end. As it is oftentimes the case with Continue Reading
Libya self-reports April crude output of 1.168 million b/d to OPEC
Libya pumped 1.168 million b/d of crude in April, the North African producer revealed to OPEC in the producer group’s latest monthly oil market report. Not registered? Receive daily email Continue Reading
U.S. appointment of Libya envoy signals intensified push to end post-revolution instability
The Biden administration has named a new envoy for Libya ahead of the country’s planned elections later this year, signaling an intent to elevate American efforts to end foreign military Continue Reading
Libyan oil minister seeks budget approval to hit 1.5 mln bpd target
Libya’s oil production target of 1.5 million barrels per day (bpd) by the end of 2021 depends on parliament approving the national budget quickly, Oil Minister Mohamed Oun told Reuters Continue Reading
Egypt Restarts Major LNG Project On Rising Demand
In the late 90s of the previous century and early years of this century, Egypt in collaboration with international partners started the development of its LNG sector. This resulted in Continue Reading
Libya’s Oil Production Set To Recover As Force Majeure Is Lifted
After falling below 1 million barrels per day (bpd) last week, Libya’s oil production could be set for recovery above that mark again, as the National Oil Corporation (NOC) said Continue Reading
Libya crude output to rebound as force majeure lifted on Marsa el-Hariga exports
Libya’s crude output could rebound in the coming days after the state-owned National Oil Corporation lifted force majeure on exports out of the eastern Marsa el-Hariga terminal on April 26. Continue Reading
Libyan Oil Production Surprise Puts Pressure On Prices
Given the ongoing imbalance between global oil supply and demand in the wake of the major waves of Covid-19 that hit the world last year, news that Libya is now Continue Reading
OPEC Fund Helps Finance Egypt’s Largest Private Solar Plant
OPEC’s Fund for International Development is among a group of development banks providing $114 million of loans to build the largest privately-owned solar plant in Egypt. ACWA Power’s 200-megawatt Kom Ombo Continue Reading
Another Libyan Oil Firm Cuts Output as Funding Row Worsens
One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis Continue Reading
Libya’s Oil Production Falls Below 1 Million Bpd On Export Terminal Outage
Libya’s National Oil Corporation has declared force majeure on the port of Hariga due to lack of funds for infrastructure repairs, pushing the country’s crude oil production below 1 million Continue Reading
Libya’s NOC banking on Total’s support to help boost oil output
Libya’s National Oil Corporation is banking on France’s Total to help it boost output and assist with the maintenance of some of its oil infrastructure, it said April 20. Not Continue Reading
Libya’s Agoco halts crude production in budget standoff with government
Production in several of Libya’s major eastern oil fields has been shut down, heightening the central government’s budget crisis. Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Libya’s NOC declares force majeure on Marsa el-Hariga exports amid budget crisis
Libya’s National Oil Corporation has declared force majeure on crude exports out of Marsa el-Hariga terminal as production from its key eastern fields is set to fall due to a Continue Reading
Egypt Seizes Suez Ship ‘Ever Given’ Pending $900 Million Compensation
Egypt seized the giant container vessel that blocked the Suez Canal last month as part of an effort to get more than $900 million in compensation. The court in the Continue Reading
Suez canal blockage caused sulphur pollution spike
Satellite image ©2021 Maxar Technologies image captionThe Ever Given created a six-day jam in the canal The log jam in the Suez canal last month produced a spike in ship Continue Reading
Libya self-reports March crude output of 1.28 million b/d to OPEC
Libya pumped 1.283 million b/d of crude in March, the North African producer revealed to OPEC in the producer group’s latest monthly oil market report. Crude production in March rose Continue Reading
Egypt in Talks on Suez Canal Ship Ever Given’s Rescue Compensation
Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo Continue Reading
Libyan pay dispute returns, could lead to some oil port closures
The dispute over so-called field allowances paid to Libya’s Petroleum Facilities Guard has returned, with the potential to lead to some oil terminal closures later this month, industry sources said Continue Reading
Maersk warns real work to clear Suez backlog has only just begun
Maersk has warned that customers should not expect a quick return to normal services after the Suez Canal blockage, which the world’s largest shipping company predicts will keep disrupting global Continue Reading
Suez Canal Has Reopened, but Ever Given Isn’t Free to Go
Egypt won’t release the massive container ship that blocked the Suez Canal for nearly a week in March until its owners agree to pay as much as a billion dollars in Continue Reading
Libya’s Largest Oilfield Could See Exports Interrupted
The largest oilfield in Libya, the 300,000-bpd Sharara field, could see crude oil exports from it disrupted if members of the Petroleum Facilities Guard (PFG) follow through with their threat Continue Reading
Egypt, Ethiopia Tensions Escalate as Nile Dam Talks Falter
Tensions are rising between Egypt and Ethiopia as Addis Ababa moves closer to diverting water to a massive hydroelectric project on the Nile that has been a center of a decade-long dispute Continue Reading
Suez Canal shipping backlog ends, days after giant vessel freed
All ships stranded by the grounding of the giant container ship Ever Given in the Suez Canal in March had passed through the canal by Saturday, ending the backlog that Continue Reading
Egypt Suez Canal Authority May Seek $1Bln ‘Ever Given’ Ship Crisis Compensation – Bloomberg
Egypt said it may seek around $1 billion in compensation after a giant container vessel blocked the Suez Canal for almost a week and roiled shipping markets. The figure is a Continue Reading
Libya’s Oil Production Set To Stabilize In 2021
Libya may be able to maintain its current level of oil production of around 1.2 million barrels per day (bpd) until the end of the year as the oil sector Continue Reading
Suez Canal traffic on the move, more port congestions likely
Southbound and northbound traffic on the Suez Canal has recommenced a day after the stricken Ever Given container ship was freed, market sources said March 30. Not registered? Receive daily Continue Reading
Suez Canal Traffic Resumes Slowly as Some Ships Weigh Anchor, Others Wait
Ships were again moving slowly through the Suez Canal on Tuesday, hours after engineers freed the Ever Given and cleared the waterway for global traffic. Shipowners, exporters and importers are now racing Continue Reading
The Suez Canal Crisis Has Ended. Time to Add Up the Damages
Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here . The immediate crisis of the Suez Canal blockage may have Continue Reading
Ship ‘partially refloated,’ but still stuck in Suez Canal
Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, authorities said, without providing further details about when the vessel would be Continue Reading
Suez Canal Stuck Ship Freed
The mammoth cargo ship blocking one of the world’s most vital maritime arteries was wrenched from the shoreline and set partially afloat again early Monday, raising hopes that traffic could Continue Reading
Suez Canal logjam has more than 320 ships waiting, further clogging up trade
The Suez Canal remains blocked by the Ever Given cargo vessel for a sixth consecutive day, with more than 320 ships — including crude, product and chemical tankers, dry bulk Continue Reading
Suez Canal detour to support Singapore bunker fuel demand
The Suez Canal logjam since the week starting March 21, caused by the Ever Given cargo vessel, could potentially increase bunker fuel demand in Singapore as more ships will likely Continue Reading
Salvager hopes to free ship blocking Suez Canal by start of next week
A giant container ship grounded in the Suez Canal could be freed by the start of next week if heavier tugboats, dredging and a high tide succeed in dislodging it, Continue Reading
Suez ship rescuers weigh time and tide with risk of tip or tear
The Dutch emergency response team hired to free the vast ship blocking the Suez canal has pulled off some dramatic recoveries, including lifting Russia’s Kursk nuclear submarine from the Barents Continue Reading
US offers to help Egypt unblock Suez Canal
The US has offered Egypt assistance in unblocking the Suez Canal, as the head of the world’s largest shipping company warned that businesses reliant on just in time supply chains Continue Reading
What Happened to Suez Canal Ship? How a Desert Wind Blew Global Trade Off Course – Bloomberg
The forecast for Tuesday, March 23, showed wind gusts of more than 40 miles per hour and sand storms sweeping through northern Egypt. Indeed, such weather is common in the Continue Reading
Global Trade Gets Rerouted With Suez Canal Still Blocked by Ship
An abrupt starboard turn in the Atlantic Ocean is the perfect illustration of the trade disruption caused by the blockage of one of the world’s most important waterways. The Marlin Continue Reading
Libya’s El Farag gas field gears up for second phase: Waha Oil
Libya’s Waha Oil Company is gearing up to restart the second phase of its key El-Farag gas field development, it said March 26. Not registered? Receive daily email alerts, subscriber Continue Reading
Dislodging the Suez Canal Ship Said to Need at Least a Week
Efforts to dislodge the massive Ever Given container vessel blocking the Suez Canal will take until at least next Wednesday, longer than initially feared, raising the prospect that the incident Continue Reading
Suez blockage sets shipping rates racing, oil and gas tankers diverted away
Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway as Continue Reading
Turkey Looks To Improve Energy Relations With Egypt
Ever since the attempted coup in Turkey of 2016, Ankara has become more assertive regarding its near abroad foreign policy. With the rise of the AKP in the early 2000s, Continue Reading
13 Million Barrels Of Oil Could Be Affected By Suez Canal Blockage
As many as 10 crude tankers carrying around 13 million barrels of oil could be affected by the disrupted traffic in the Suez Canal, which was blocked early on Wednesday Continue Reading
Elite Salvagers Set to Tackle Massive Ship Blocking Suez Canal
An elite team is set to tackle the monumental challenge of freeing the massive container vessel that’s blocking the Suez Canal, as a backlog of ships continued to build up Continue Reading
Unclear when stuck container ship Ever Given to move out of Suez Canal: owner
Japan’s Shoei Kisen Kaisha, owner of the Ever Given, said March 25 it is currently considering what needs to be done to improve the situation its container vessel, which ran Continue Reading
Revamping Libya’s Oil Sector Is Top Priority in Historic Budget
Libya’s state oil producer is set to get the biggest portion of development spending in the country’s new budget, potentially aiding plans to raise output as the industry recovers from Continue Reading
Suez Canal Blockage to Ripple Through Global Energy Market
The blockage of the Suez Canal by a giant container vessel is likely to send ripples of disruption through the global energy supply chain. European and U.S. refiners that rely on the Continue Reading
Tug boats work to free giant container ship stuck in Suez Canal
Eight tug boats were attempting on Wednesday to free a 400m (440-yard) long container ship that ran aground in the Suez Canal, blocking vessels passing through one of the world’s Continue Reading