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By Faith Brown with Pam Castro in Manila LIMAY, Philippines, July 26, 2024 (AFP) – The Philippine Coast Guard planned Friday to deploy oil dispersant and floating barriers a day after a tanker carrying 1.4 million litres of industrial fuel sank off Manila. AFP journalists at the Port of Limay in Bataan province watched coast guard personnel preparing equipment for a boat to be used against the slick in Manila Bay. The MT Terra Nova […]
MANILA, July 25, 2024 (AFP) – A Philippine-flagged tanker carrying 1.4 million litres of industrial fuel oil capsized and sank off Manila on Thursday, authorities said, as they sought to contain a spill stretching several kilometres. The MT Terra Nova had been heading for the central city of Iloilo when it sank in Manila Bay, nearly seven kilometres (4.3 miles) off Limay municipality in Bataan province, near the capital, in the early hours. Strong winds […]
SINGAPORE, June 15, 2024 (AFP) – Beaches on Singapore’s top resort island of Sentosa, which also house luxury waterfront homes, were shuttered on Saturday due to an oil spill at a nearby port, maritime authorities said. The oil spill resulted from an accident on Friday at the Pasir Panjang terminal between a Netherlands-flagged dredger and a stationary Singapore-flagged bunker vessel, Singapore’s Maritime and Port Authority (MPA) said. Waters of three popular beaches on the island […]
DOHA, June 5, 2024 (AFP) – Qatar has agreed to supply the Taiwan-headquartered Chinese Petroleum Corp (CPC) with natural gas for 27 years, the emirate’s state energy company announced on Wednesday. Qatar will supply four million tonnes of gas a year under the deal, QatarEnergy said in a statement, without disclosing the cost of the agreement. “We look forward to further enhancing our relationship with CPC… and to further demonstrate our unwavering commitment to our […]
HONG KONG, April 16, 2024 (AFP) – Asian stocks fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after Israel’s army chief vowed a response to Iran’s unprecedented attack on his country at the weekend. The selling came after Wall Street’s three main indexes tanked in response to forecast-beating US retail sales data that reinforced the view that the world’s top economy remained in rude health and […]
JUBA, March 29, 2024 (AFP) – Oil-dependent South Sudan is at risk of economic and political turmoil over the shutdown of a key pipeline in its war-torn neighbour, Sudan, experts have warned. Analysts voiced deep concern at the loss of crucial oil revenue in one of the poorest countries on the planet, and the possibility it may force South Sudan’s first ever elections to be delayed once again. In a letter dated March 16, Sudan’s […]
CARACAS, March 22, 2024 (AFP) – Venezuela’s parliament has approved a law creating a federal state in the disputed oil-rich area of Essequibo across the border in Guyana, which on Friday slammed a “flagrant violation” of its sovereignty. Caracas has long laid claim to Essequibo, which makes up about two-thirds of Guyana’s territory, but started taking active steps to retrieve the land after massive offshore oil deposits were discovered there in 2015. Lawmakers unanimously […]
By Emeline BURCKEL LONDON, Feb 24, 2024 (AFP) – Two years after Russia launched a full-scale invasion of Ukraine, prompting multiple rounds of Western sanctions, Moscow increasingly relies on a shadow fleet of ships to circumvent curbs on its oil exports. Experts say the so-called ghost fleet of tankers with opaque ownership or without proper insurance has allowed the Kremlin to keep exporting despite a Western-imposed embargo and oil price cap on its global sales. […]
LONDON, Jan 12, 2024 (AFP) – Oil prices surged four percent on Friday after US and UK forces launched strikes against Iran-backed Huthi rebels following their attacks on ships in the Red Sea, fuelling worries about a wider conflict in the crude-rich region. Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing US inflation rose more than expected in December. Wall Street had ended flat on Thursday, […]
DUBAI, Jan 11, 2024 (AFP) – Iran’s navy seized a ship off Oman to retaliate for the “theft” of its oil from the same tanker last year by the United States, state media said Thursday. The United States condemned what it called an “unlawful seizure” and demanded Iran “immediately release the ship and its crew”. The announcement came hours after a British navy maritime security agency said armed men boarded the Greek-owned, Marshall Islands-flagged St […]
LONDON, Dec 21, 2023 (AFP) – Crude prices slumped on Thursday after Angola quit the OPEC oil cartel, while Wall Street stocks rebounded after a streak of records was snapped. The price of the main international and US crude contracts dropped more than 1.5 percent after Angola said it was leaving as it did not want to go along with further production cuts that OPEC and 10 Russian-led allies agreed last month. They later pared […]
By Barbara AGELVIS CARACAS (AFP) – The discovery of vast oil deposits is blamed for reigniting a decades-old territorial dispute between Venezuela and Guyana that fast worsened as Guyana started granting licenses to multinationals to exploit crude in waters claimed by both countries. This is what we know about the showdown over the Essequibo region that has the world on edge. – How much oil in Essequibo? – The 160,000-square-kilometer (62,000-square-mile) territory has been administered […]
