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Totalenergies Sells Nigeria Oilfield Stake To Shell For $510 MillionFrench oil major TotalEnergies TTE said on Thursday it agreed to sell its 12.5% stake in the Bonga oilfield offshore Nigeria to Shell SHEL, the field’s operator, for $510 million.
The deal will bring Shell’s stake in Bonga to 67.5% and shows its continued interest in producing oil offshore Nigeria after selling its spill-plagued Nigerian onshore assets to Renaissance, a consortium of four local companies and an international energy group.
Last year, the owners of Bonga decided on an extension of the field to add 110,000 barrels of oil equivalent per day with the first oil expected to flow by the end of the decade. Bonga’s floating production vessel has a capacity of 225,000 bpd.
“This acquisition brings another significant investment in Nigeria deep-water that contributes to sustained liquids production and growth in our Upstream portfolio,” said Shell’s upstream chief Peter Costello.
Exxon subsidiary Esso Exploration and Production Nigeria XOM holds 20% and Oando’s Agip 12.5% of Bonga.
The deal, subject to approvals, is expected to close by the end of the year.
Source: Reutersport-and-ship
May 30, 2025
Bunker Port News Worldwide
Epropulsion Powers France’S First 40-Meter Fully Electric Catering Cruise Ship On The SeineePropulsion, a global leader in marine electric propulsion systems and services, announced today it has been selected as the exclusive propulsion partner for Bleu Seine; France's first 40-meter, fully electric catering cruise ship. Designed for daily operations on the Seine River, the vessel represents a major step forward in sustainable passenger transport on one of Europe's most iconic waterways.
With space for up to 130 guests, Bleu Seine will host daily lunch and dinner cruises. The ship's all-electric architecture was developed in collaboration with ePropulsion, who is serving as the sole system integrator. The company designed and delivered the entire propulsion and energy system in-house, ensuring seamless integration, maximum efficiency and uncompromising reliability.
At the core of Bleu Seine is a fully integrated electric drive system powered by five lithium battery clusters – three dedicated to propulsion, and two powering onboard hospitality systems. Each operates independently for continuous uptime, even in the rare case of a fault. This modular approach reflects ePropulsion's commitment to safety, resilience and performance.
Key system features include:
Three high-efficiency permanent magnet motors
Fully steerable thrusters with 360° vector thrust control
Redundant, liquid-cooled power electronics with bi-directional converters
Real-time battery monitoring with advanced system protection
The system is fully compliant with the latest ES-TRIN standards for inland waterway passenger vessels.
From thermal aerosol fire suppression built into the battery packs to near-silent thrusters and intelligent load balancing, every aspect of the vessel's design has been optimized for clean, quiet operation. The ship's AC and DC distribution networks are designed with full redundancy, while rapid shore charging enables a complete recharge in just two hours, making zero-emission cruising both feasible and efficient.
“Every component was selected, tested, and refined to meet the high demands of daily commercial service,” said Ricky Cole, Technical Director at ePropulsion. “Our liquid-cooled propulsion and energy systems represent the cutting edge of marine innovation.”
Bleu Seine represents ePropulsion's first deployment in the large passenger vessel segment – a significant advancement in the company's commercial portfolio. The project highlights ePropulsion's system integration expertise and ability to scale modular electric propulsion for high-demand, real-world operations. With over 50,000 electric propulsion units and battery systems delivered globally, the company continues to set new benchmarks for performance, reliability, and regulatory compliance in commercial marine electrification.
From luxury cruise ships on the Seine to high-traffic ferries in Asia and coastal workboats worldwide, ePropulsion is delivering high-performance electric propulsion systems that meet the demands of global commercial fleets.
Source: ePropulsionport-and-ship
May 29, 2025
Bunker Port News Worldwide
Iran’S Annual Oil Exports Hit $67B, Highest In A Decade: CbiIran exported $67 billion worth of oil in the Iranian calendar year 1403 (ended on March, 20, 2025), marking its highest oil revenue in the past decade, according to estimates by the Central Bank of Iran (CBI).
Data released by the CBI shows Iran’s oil exports have fluctuated significantly in recent years. In 1399 (March 2020–March 2021), exports had dropped to $23 billion amid intensified U.S. sanctions. Since then, Iran’s oil revenues have steadily climbed:
• 1400 (March 2021–March 2022): $38 billion
• 1401 (March 2022–March 2023): $55 billion
• 1402 (March 2023–March 2024): $56 billion
• 1403 (March 2024–March 2025): $67 billion
The latest figure represents a sharp rebound and underscores Iran’s increased crude shipments despite ongoing international restrictions.
Iran’s oil production has been on an upward trend in recent months despite U.S. sanctions and geopolitical pressures. The country managed to increase its output steadily throughout 2024, adding more than 370,000 bpd compared to the previous year. The rise in production has been supported by the government’s efforts to boost investment in upstream projects and secure alternative trade routes for its crude exports.
In addition to increasing output, Iran has been working to expand its oil sales, particularly to Asian markets, where demand remains strong. China continues to be a key buyer of Iranian crude, while other regional customers have also shown interest in maintaining supplies despite Western pressure.
The resilience of Iran’s oil industry has been evident even in the face of tightening restrictions. The country has utilized a mix of official and unofficial channels to sustain its exports, ensuring that oil revenue remains a crucial source of foreign exchange for the economy.
Source: Tehran Timesport-and-ship
May 20, 2025
Bunker Port News Worldwide
Houston Ship Channel Ranked #1 U.S. WaterwayOn Tuesday, April 29, the Port Commission of the Port of Houston Authority met for its regular monthly meeting. Chairman Ric Campo opened the meeting with an announcement that the Houston Ship Channel is once again ranked the number one waterway in the U.S., according to a recent report by the U.S. Army Corps of Engineers (USACE). Houston’s port handles approximately 12% of the nation’s total waterborne tonnage.
An incredible 309.5 million short tons of cargo moved through the Channel in 2023, which is the most recent available data, reflecting a 5.3% increase in total tonnage from the previous year and far more cargo than any other port in the nation. In fact, volumes along the Houston Ship Channel are so large that the tonnage gap between Houston and the second-ranked port is larger than 97% of ports in the country.
“This ranking reinforces just how vital the Houston Ship Channel is for our region and for the entire nation,” said Chairman Campo. “More than three million jobs depend on our Channel, and at Port Houston, it’s our job to protect this asset. With our Channel expansion project, known as Project 11, we are helping ensure this critical waterway remains open, safe, and competitive for decades to come.”
The 52-mile-long Houston Ship Channel serves more than 200 private and eight public terminals, in industries from petrochemicals and heavy machinery to consumer goods and energy. Its economic influence extends far beyond port gates, supporting 3.37 million jobs nationwide and generating $906 billion in annual economic activity in the United States.
Chairman Campo also commented on the current tariff situation. “We are, like everyone, analyzing the data and assessing the situation. Tariffs would impact our own expenses at Port Houston, including our STS crane purchases. We support the end goal of strengthening domestic manufacturing and encourage the administration to work with our industry to develop a path forward that minimizes unintended consequences on American workers, exporters and consumers.”
Executive Leadership Team Retirements & Appointments
Port Houston CEO Charlie Jenkins recognized Chief Operating Officer Tom Heidt, who is retiring after 43 years of working at the port. He has held several roles during his tenure, starting in accounting and assuming the role of Chief Operating Officer in 2015.
“Tom has dedicated his career to Port Houston, and we appreciate him and all he has done to help grow the port to what it is today,” said Jenkins. “With his retirement comes the opportunity for new leadership, and we look forward to what is to come.”
Jenkins went on to highlight other organizational changes, including that effective May 1, 2025, Chief People Officer Jessica Shaver will assume the role of Chief Administrative Officer, overseeing many aspects of the organization, including strategic planning and people management.
Chief Business Equity Officer Carlecia Wright assumes the role of Chief People Officer, and the Director of Operations and Planning Candice Armenoff has been named Chief Strategy Officer, a new position. Port Houston is also actively searching for a Chief Operating Officer to oversee other important aspects of the organization, such as commercial, operations, maintenance, and infrastructure.
Project 11 Updates & Operations Highlights
Regarding Channel expansion efforts, the USACE is set to award their second Project 11 contract for the construction of the Beltway 8 Dredged Material Placement Area. Meanwhile, the two remaining Port-led Project 11 dredging contracts with Weeks Marine and Callan Marine are progressing on budget. The final segment in the Galveston Bay area, between Bayport and Barbours Cut, is anticipated to be fully completed and open to two-way traffic mid-2025.
Operations updates indicated that the total tonnage across all public terminals through March is down 2%, but this is still an improvement over last month, which saw a decline mostly related to fog. Container volumes since the start of the year have surpassed 1 million TEU and remain fairly flat compared to 2024.
The container terminals recorded the busiest March on record, driven by strong export volume, up 13% from last March. It is noteworthy that this was also largely driven by recovery from February’s low performance. Volumes at the multipurpose facilities remained down as well, at 7% since the start of the year, but they rebounded slightly month over month by 2%. This was driven by weak liquid imports and export dry bulk volumes, while steel was up 4% since the beginning of the year.
Additional Meeting Updates & Announcements
Earlier in the month, Charlie Jenkins met with Congressman Mike Collins, representative from Georgia and Chair of the Water Resources & Environment Subcommittee of the Transportation and Infrastructure Committee. They discussed the future of the Houston Ship Channel and its importance to the national economy, as well as how to improve the laws promoting maritime transportation and infrastructure. The relationship is particularly important as it is related to the WRDA bill, legislation that instructs the USACE on the intent of Congress and outlines priorities.
Commissioners DonCarlos, Fitzgerald and Robb attended a ribbon cutting to celebrate the opening of the new Holly Bay Pavilion at Holly Bay Park in Pasadena, as part of Port Houston’s East Harris County Greenspace Program. “We were happy to be able to support this initiative and be part of the community’s beautification work, giving them a space to gather and enjoy the outdoors,” said Chairman Campo.
It was also announced that the City of Houston along with Port Houston, and other partners, will be hosting the Navy Fleet Week for the first time in November 2025. “We are excited to be a part of this celebration, honoring 250 years of the U.S. Marines and Navy,” said Jenkins. “We will also be hosting a few ships at our terminals and look forward to partnering with the city on this exciting milestone event.”
During the meeting, the Port Commission also approved the Port Authority’s Fiscal Year 2024 Annual Comprehensive Financial Report (ACFR) including the Report of Independent Public Accountants, with an unmodified opinion and no findings.
The Port Commission meets next on Tuesday, May 20, 2025.
Source: Port Houstonport-and-ship
May 08, 2025
Bunker Port News Worldwide
Russia’S Gazprom Returns To Annual Profit In 2024, Earning $14.8 BillionRussian energy giant Gazprom swung to a full-year 2024 net profit of 1.2 trillion roubles ($14.76 billion) from previous year’s loss thanks to an improved gas business and rising interest income from financial investments, the company said on Wednesday.
Gazprom posted a net loss of almost $7 billion for 2023, its first since 1999, due to dwindling sales to the European Union, once its main source of revenue.
Gazprom is arguably the Russian business hardest hit by the international sanctions imposed after Russia’s invasion of Ukraine three years ago. Although Russia’s economy has been resilient, growing signs of strain have appeared in several industries.
Commenting on the 2024 results, Gazprom’s Deputy CEO Famil Sadygov said the group had a significant liquidity cushion of 1.034 trillion roubles.
“This reserve of funds on the balance sheet ensures the Group’s high financial stability even in the face of sanctions pressure,” he said.
Gazprom still faces challenges from plummeting gas sales in Europe as gas supplies to the region via Ukraine were halted on January 1 after the previous transit deal with Kyiv was not extended.
Source: Reutersport-and-ship
May 01, 2025
Bunker Port News Worldwide
Woodside Approves $17.5 Billion Us Lng Project, Targets 2029 StartAustralia’s Woodside Energy WDS gave final approval to build a $17.5 billion liquefied natural gas project in Louisiana, confident a pro-fossil fuel U.S. administration and strong demand will give it competitive returns.
The company’s decision, announced on Monday, marks the first financial go-ahead to construct an LNG plant in the U.S. since President Donald Trump returned to office declaring an energy emergency and promising to unleash U.S. energy onto the world.
Chief Executive Officer Meg O’Neill said Trump’s desire for “American energy dominance” boded well for the project, slated to deliver first gas in 2029, and the imposition of tariffs could even work to Woodside’s advantage.
“The tariffs complicate things and create volatility. But in some ways, that gives us an edge,” she told Reuters, citing the project’s headstart against other proposed U.S. plants, a fixed-price contract with construction firm Bechtel, and the fact all purchase orders for long lead items had already been issued.
“Those costs are locked in … We’re able to take a (final investment decision) and other projects will probably be doing a bit of a recycle.”
The project also has the advantage of being in a foreign trade zone, which gives it relief on some customs duties. Construction would mostly involve U.S.-based contractors, workers and services, O’Neill said, while around half of the equipment and materials would be sourced in the U.S.
Woodside said Louisiana LNG would help it produce around 24 million tonnes per annum (Mtpa) from its worldwide LNG portfolio in the next decade, making up over 5% of global supply, to service demand in Europe and Asia.
The project is expected to generate $2 billion in annual net operating cash in the 2030s, offering an internal rate of return of 13% and a payback period of seven years.
“The project benefits from access to abundant low-cost gas resources in the United States and boasts an asset lifespan of more than 40 years,” O’Neill said.
Louisiana governor Jeff Landry said the project was the biggest single foreign direct investment in his state’s history.
“We are working with President Trump to deliver on America’s energy potential,” he said.
Stonepeak, which has taken a 40% stake in the project’s infrastructure arm, will contribute $5.7 billion towards the expected capital cost.
O’Neill said Woodside was on an “aggressive” timeline to bring partners to further reduce its equity in the project.
Analysts have estimated a further 20%-30% sale of its holding company stake would be needed to achieve its 50% selldown target, which they see as crucial to reduce the risks it faces with the huge project.
Woodside’s shares rose 1.2% after the announcement but underperformed the broader energy subindex XEJ, up 2.4%.
O’Neill said the final go-ahead for Louisiana LNG further de-risks the project for potential partners, declining to comment on whether Woodside was talking to Kuwait Petroleum.
“The ship is sailing. It’s now time for you to write your cheque and get your seat on the ship because there are others knocking at the door,” she said.
Source: Reutersport-and-ship
Apr 30, 2025
Bunker Port News Worldwide
Trafigura To Supply 4 Million Barrels Of Oman Crude To BpclTrader Trafigura Tuesday said it would supply four million barrels of Oman crude Indian refiner Bharat Petroleum Corp BPCL with deliveries starting in May.
“Trafigura will supply quarterly cargoes, destined for BPCL’s Kochi Refinery, until March 2026,” it said in a statement.
BPCL operates a 310,000 barrels per day refinery at Kochi in southern Kerala state.
Source: Reutersport-and-ship
Apr 30, 2025
Bunker Port News Worldwide
Sallaum Lines Now Serving Port Of BrunswickSallaum Lines, a global leader in Roll-on/Roll-off shipping, is now serving the Port of Brunswick, Ga.
“We're thrilled to make our first call to Colonel's Island in Brunswick,” said Sam Awad, Vice President of Sales and Operations for Sallaum Lines. “This expansion aligns with our growth strategy and commitment to delivering reliable services to our clients in the U.S. and Africa. Brunswick's strategic location and robust infrastructure make it an ideal addition to our global network.”
With an inaugural visit of the vessel Silver Soul, the Switzerland-based ocean carrier added Brunswick to an extensive Atlantic network linking Europe, North and South America, and Africa. The new service to Brunswick marks an important step in Sallaum's broader strategy to expand its footprint on the U.S. East Coast.
“We are excited to welcome Sallaum Lines to our growing roster of international shipping partners,” said Georgia Ports Authority Chief Commercial Officer Flavio Batista. “The addition of Sallaum Lines will enhance Brunswick's position as a key hub for RoRo services on the U.S. East Coast.”
Sallaum Lines operates a fleet of eight modern Pure Car & Truck Carriers, and has moved more than 4 million Car Equivalent Units globally. The company is set to add six new vessels to its fleet by 2027.
Source: Georgia Ports Authorityport-and-ship
Apr 18, 2025
Bunker Port News Worldwide
India Eyes Ending Import Tax On Us Ethane And Lpg In Trade Talks, Sources SayIndia plans to end taxes on U.S. ethane and liquefied petroleum gas (LPG) imports under broader negotiations with Washington as it looks to reduce its trade surplus and ease its tariff burden, three sources familiar with the matter said.
The proposal to get rid of duties for the products used for cooking gas and petrochemical production comes as India mulls scrapping import tax for U.S. liquefied natural gas (LNG) and boosting purchases of the fuel from the United States.
As President Donald Trump’s sweeping duties rattle economies and markets, several Asian countries running trade surpluses with Washington are looking to import more U.S. energy in hopes of avoiding heavier tariffs.
India levies import taxes of 2.5% on ethane, mainly used as a feedstock for producing petrochemicals, and propane and butane, which are used for LPG used mostly as cooking fuel.
In the 2023-24 fiscal year, India imported 18.5 million metric tons of LPG worth $10.4 billion, according to Indian government data, mostly from the Middle East.
It is the No.2 buyer of U.S. ethane after China, according to the U.S. Energy Information Administration, importing 65,000 barrels per day last year, compared with 227,000 bpd for China. However, the U.S.-China trade war has sent tariffs surging and is likely to curtail China’s imports.
Reliance Industries RELIANCE1!, which operates the world’s largest petrochemicals complex, is India’s main buyer of ethane.
New Delhi and Washington agreed in February to work on the first phase of a trade deal to be concluded late this year, with a view to growing bilateral trade to $500 billion by 2030 and reducing India’s $45.7 billion trade surplus.
The Indian government sources said a final decision on duty cuts will be taken by commerce and finance ministry officials. All three spoke on condition of anonymity due to the sensitivity of the talks.
India’s finance and commerce ministry did not respond to Reuters emails seeking comments.
Analysts say there is limited scope for India to increase U.S. ethane imports in the short term due to a lack of ships, storage tanks and crackers that process the liquid gas.
“It will be challenging for the US to increase ethane exports to India, as India seems to have already maximised its use of ethane as a feedstock due to favourable current margins,” said Cheryl Liu, an analyst with Energy Aspects.
India’s steam cracker capacity is around 9.5 million metric tons of ethylene production, which can accommodate up to 2 million tons (92,000 bpd) of ethane as feedstock, she said.
It is logistically easier to import more LPG, said Prashant Vashisth, vice president at Moody’s affiliate ICRA. India imports about 60% of its LPG needs.
Source: Reutersport-and-ship
Apr 18, 2025
Bunker Port News Worldwide
Azerbaijan’S January-March Oil Exports Via Btc Pipeline Down 5.5%Oil exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline, which runs from Azerbaijan through Georgia to Turkey, were down 5.5% year-on-year in January-March 2025 at 6.9 million metric tons, Azerbaijan’s state statistics committee said.
The BTC pipeline is used to export oil from the Azeri, Chirag and Guneshli oilfields, which are operated by BP.
Azerbaijan’s total oil transit in January-March 2025 amounted to 9.0 million tons, of which 76.2% flowed through the BTC.
The volume of transit oil sourced from other countries such as Kazakhstan and Turkmenistan via the BTC fell to 1.153 million tons in January-March from 1.400 million tons in the same period of 2024, the data showed.
Source: Reuters (Reporting by Nailia Bagirova; Editing by Eileen Soreng)port-and-ship
Apr 18, 2025