By Reuters Staff
1 Min Read
CAIRO, May 4 (Reuters) - An Egyptian court on Tuesday rejected an appeal against the detention of the Ever Given container ship in the Suez Canal after it was dislodged from blocking the waterway, a judicial source said.
The Ever Given was stranded for six days across the canal in March, stopping traffic in both directions. It has been held in a lake between two stretches of the canal since, amid a dispute over compensation for the incident. (Reporting by Yusri Mohamed; Writing by Aidan Lewis; Editing by Alison Williams)
Work to siphon off the remaining cargo from a stricken tanker was expected to commence on Friday, the vessel's manager said on Thursday, two days after hundreds of tonnes of oil spilled into the Yellow Sea following a collision in dense fog.
South China clampdown tackles both tax evasion and air pollution Chinese LCO imports to fall, hitting top supplier South Korea
SINGAPORE, April 28 (Reuters) - China’s imports of light cycle oil (LCO) are set to fall in coming months as authorities crack down on its illicit trading and sales in South China, dealing a blow to the $10 billion market and to refiners in top supplier South Korea.
China’s imports of the cheaper but more pollutive diesel blending fuel nearly doubled to record levels in 2020, but a clampdown in top oil consuming Guangdong province has curbed demand.
The amount of South Korean LCO, a refinery by-product, to be loaded for shipment to China in May is down 60% from March while spot premiums have halved, industry sources said.
By Reuters Staff
2 Min Read
FILE PHOTO: A view shows Sharara oil field near Ubari, Libya, July 6, 2017. REUTERS/Aidan Lewis
(Reuters) -Libya’s NOC has lifted force majeure on oil loadings from the eastern port of Hariga after settling a financing dispute with the new Government of National Unity (GNU), it said on Monday, paving the way for higher output.
National Oil Corporation (NOC) subsidiary Arabian Gulf Oil Company (AGOCO), which runs Hariga, this month said it was suspending output because it had not received any state financing since September.
Force majeure was declared by NOC on April 19.
NOC said the government would allocate 1 billion dinars ($225 million) as part of an agreement reached to end the force majeure declared on exports through Hariga.
2 Min Read
FILE PHOTO: Containers are seen at Abu Dhabi s Khalifa Port after it was expanded in Abu Dhabi, UAE, December 11, 2019. REUTERS/Satish Kumar/File Photo
DUBAI (Reuters) - Abu Dhabi Ports, which owns and operates 11 ports and terminals in the United Arab Emirates and Guinea, has secured a $1 billion loan with a group of banks, two sources said.
Nine banks provided the facility, with Citi and First Abu Dhabi Bank having lead roles in the transaction, the first source said on condition of anonymity.
The source added that HSBC and Standard Chartered were also involved in the loan for the company, which is owned by Abu Dhabi state holding company ADQ.