Brazil probing multiple tankers over spill: Update 2
Adds comments from Minerva Marine and Euronav.
Greece-based Delta Tankers said Brazil is investigating four tankers other than its Suezmax Bouboulina for causing a catastrophic oil spill off Brazil's northeastern coast.
Citing a notice from Brazil's maritime authority to the Greek maritime affairs ministry, Delta said the tankers under investigation are Maran Apollo, Maran Libra, Bouboulina, Minerva Alexandra and Cap Pembroke.
All five are Greek-flagged. Euronav owns the Suezmax Cap Pembroke, Minerva Marine owns the Aframax Minerva Alexandra, and Maran Tankers owns the two Maran VLCCs.
Minerva and Euronav confirmed that they were asked to provide documentation to Greek authorities on their tankers regarding the oil spill. Euronav called the probe a "preliminary inquiry that seems to have been sent to many shipowners who had vessels navigating in the region during the period in question." Maran Tankers did not immediately respond to a request for comment.
Brazilian authorities have previously identified the source of the heavy crude as Venezuela. Caracas has denied any responsibility.
Brazil's navy declined comment on the fresh details released by Delta.
Delta has said that it has found no evidence that its tanker stopped, conducted transshipment, lost or spilled cargo, or veered off course on its way from Venezuela to Malaysia. Minerva and Euronav told Argus that their tankers were in no way connected to the oil spill and will cooperate with the investigation.
Brazilian police last week identified the culprit as the Bouboulina, and raided the local offices of two international shipping companies.
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Cenovus boosts oil sands output by 4pc in 1Q
Cenovus boosts oil sands output by 4pc in 1Q
Calgary, 1 May (Argus) — Canadian integrated Cenovus Energy increased its oil sands production by 4pc in the first quarter, led by gains at Lloydminster Thermal and Foster Creek heavy crude assets, and the company plans to boost output further to supply the newly opened Trans Mountain Expansion (TMX) pipeline. Cenovus pumped out 613,000 b/d of crude from its oil sands projects in Alberta, up from 588,000 b/d in the same quarter last year, the Calgary-based company reported on Wednesday. This was one of the highest producing quarters for Cenovus' oil sands assets since acquiring Husky in early 2021, second only to the 625,000 b/d produced in the fourth quarter that year. Cenovus has a commitment of about 144,000 b/d on the newly completed 590,000 b/d TMX pipeline, which was placed into service on Wednesday , and the company has plans to push upstream output higher over the next several years across its portfolio to meet its commitment. The pipeline nearly triples the amount of Canadian crude that can reach the Pacific coast without first having to go through the US. First-quarter production from the Lloydminster Thermal segment rose to 114,000 b/d, up from 99,000 b/d a year earlier, because of higher reliability, according to Cenovus. Cenovus' Foster Creek production rose to 196,000 b/d of bitumen, up from 190,000 b/d in first quarter 2023. The company plans to bring another 30,000 b/d online at the steam-assisted gravity drainage (SAGD) asset by the end of 2027 through optimization projects. To the north, Christina Lake's first-quarter bitumen output of 237,000 b/d was steady with previous quarters. The asset is expected to get a significant boost by the end of 2025 when a pipeline connecting the project to output from the neighbouring Narrows Lake asset is completed. The 17 kilometer (11 mile) Narrows Lake tie-back will add 20,000-30,000 b/d of bitumen to Christina Lake, which already ranks as the industry's largest SAGD project. The pipeline is 67pc complete and should be placed into service in early 2025, Cenovus executives said Wednesday on an earnings call. Northeast of Fort McMurray, Alberta, new well pads are planned at Sunrise in 2025, where Cenovus also plans to push production higher by 20,000 b/d. Sunrise produced an average of 49,000 b/d in the first quarter this year, up from 45,000 b/d in the same quarter 2023. Cenovus' output company-wide rose to 801,000 b/d of oil equivalent (boe/d) in the first quarter, up from 779,000 boe/d a year earlier. This includes oil sands, natural gas liquids, natural gas, conventional and offshore assets. Cenovus posted a profit of C$1.2bn ($871mn) in the quarter, up from a C$636mn profit during the same quarter of 2023. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Tankers can take TMX crude mid-May: Trans Mountain
Tankers can take TMX crude mid-May: Trans Mountain
Calgary, 1 May (Argus) — Commercial operations for the 590,000 b/d Trans Mountain Expansion (TMX) crude pipeline in western Canada have officially started today, but tankers will not be able to load crude from the line until later this month. Line fill activities, which began on 16 April, are still ongoing for the C$34bn ($25bn) project that stretches from Edmonton, Alberta, to the docks in Burnaby, British Columbia. About 70pc of the volumes needed are in the 1,181 kilometre (733 mile) line, Trans Mountain said on Wednesday. "As of today, all deliveries for shippers will be subject to the Expanded System tariff and tolls, and tankers will be able to receive oil from Line 2 by mid-May," Trans Mountain said. Aframax-size crude tankers started to take position on the west coast last month in anticipation of the new line. But the inability to deliver crude at Burnaby, while still having to pay full tolls, was a concern raised by several shippers on 23 April. "Trans Mountain must be able to receive, transport and deliver a shipper's contract volume," the shippers said in a letter to the CER. The ability to deliver the crude is "clearly central and fundamental qualities of firm service." The CER in November approved interim tolls for the system that will further connect Albertan oil sands producers to Pacific Rim markets. Shippers will, at least initially, pay C$11.46/bl to move crude from Edmonton, Alberta, to the Westridge terminal in Burnaby, British Columbia. The fixed portion accounts for C$10.88/bl of this and has nearly doubled from a C$5.76/bl estimate in 2017. The Canada Energy Regulator (CER) on 30 April gave Trans Mountain a green light to put TMX into service , ending years of uncertainty that the project would ever be completed. The expansion project, or Line 2, nearly triples the capacity of Canadian crude that can flow to the Pacific coast, complementing the original 300,000 b/d line, or Line 1, that has been operating since 1953. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Canada’s TMX pipeline ready to move crude: Update
Canada’s TMX pipeline ready to move crude: Update
Adds regulatory approvals received. Calgary, 30 April (Argus) — Canada's 590,000 b/d Trans Mountain Expansion (TMX) crude pipeline can now start moving volumes to the Pacific coast after receiving final regulatory approvals today, more than a decade after the project was first conceived. The Canada Energy Regulator (CER) approved Trans Mountain's final applications on Tuesday, giving the midstream company a green light to put its C$34bn ($25bn) project into service. Trans Mountain had recently maintained its commitment to being ready by 1 May. The expansion nearly triples the existing 300,000 b/d Trans Mountain line that runs from Edmonton, Alberta, to Burnaby, British Columbia. Also expanded was the Westridge Marine Terminal from one dock to three, all capable of loading Aframax-sized vessels. The line will provide Canadian oil sands producers with a significant export outlet without having to first go through the US. Much of the new volume to flow on TMX is expected to be heavy sour crude. Federally-owned Trans Mountain had submitted applications as recent as 15 April for the final section of the pipeline about 140 kilometers (87 miles) east of the line's terminus in Burnaby. The final applications concerned piping, valves and other components at two pipeline inspection device traps and the mainline pipe between the two traps. The traps were added for safety assurance when the operator was allowed by CER to use a smaller diameter pipe as part of the Mountain 3 deviation. Mountain 3 was the last segment of the pipeline to be constructed because of delays relating to difficult terrain while tunneling. The "golden weld" marking the end of construction occurred on 11 April, according to Trans Mountain. A group of shippers last week expressed concern that TMX would not be ready for commercial service by 1 May. The pipeline had been marred by legal challenges and cost over-runs since it was first proposed in 2013 by its then-owner US midstream firm Kinder Morgan. The Canadian government took ownership of it in 2018. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
New US rule may let some shippers swap railroads
New US rule may let some shippers swap railroads
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