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Tuesday, July 7th, 2020
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The World’s Oil Refining Industry Is in Pain Like Never Before – Bloomberg

Oil refinery. Chain link fence. Smoke stacks

BLOOMBERG, JULY 6, 2020 OPEC+ production cuts have driven up crude oil prices | End-user demand for transport fuels remains very subdued By Barbara J Powell and Jack Wittels for Bloomberg – Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and petrochemicals for plastics. And …

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Islamic insurgents threaten massive $23 billion LNG terminal project in Africa

Islamic insurgents. Guns. Flag

BLOOMBERG, JUNE 5, 2020 LNG projects in Mozambique face militants, coronavirus risks | French oil company Total is expected to finalize almost $16 billion of financing By Borges Nhamire and Matthew Hill for Bloomberg – Dozens of soldiers clutching AK-47s and grenade launchers watch over roaring bulldozers on the white sand beach that meets a tropical turquoise sea. They’re guarding Africa’s biggest investment: …

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Enron legacy returns in battle over $80 million yacht

White yacht. Marina

BLOOMBERG, JULY 4, 2020 Enron Nigeria says it’s owed money over suspended power deal | Company wants $22 million from sale of seized Galactica Star Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with US and Nigerian authorities over the proceeds of the sale of a luxury yacht. The dispute …

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Explosions cause serious damage at UK’s largest grain terminal. “Roofs are gone”

Damaged roof of grain terminal

PortandTerminal.com, July 4, 2020 Huge explosion rips the roof off grain terminal at Tilbury Docks in Essex, England LONDON – The roof of a grain terminal has been partially destroyed in a “massive explosion” at Tilbury Port in Essex, the largest terminal for the import and export of grain in Britain. The incident occurred on July 3rd at around 9:30 …

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LEAKED VIDEO: Ferry disaster that killed 32 caught on CCTV in Bangladesh

PortandTerminal.com, June 30, 2020 DHAKA, BANGLADESH – A security camera video has revealed the terrifying moments of how a passenger ferry, Morning Bird, sank in just 20 seconds after being hit by another vessel, on the Buriganga river in Bangladesh. At least 32 people were killed in the incident. Moyur-2, the larger vessel which rammed the ferry, which was speeding …

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Chesapeake’s Collapse Is Latest in Long Line of Shale Disasters

Oil storage tanks

BLOOMBERG, JUNE 29, 2020 Over 200 North American producers have gone under since 2015 | This year, at least 20 have filed for bankruptcy protection By David Wethe for Bloomberg – The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest …

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Mexico’s Pemex says largest refinery shut down due to fire after quake

Screen grab of firemen putting out refinery fire

REUTERS, JUNE 23, 2020 MEXICO CITY – Mexican national oil company Pemex said on Tuesday that its Salina Cruz oil refinery, the country’s largest, was offline after a fire broke out that badly injured at least one worker following a major earthquake that struck nearby. The fire, which ignited where power generators and a boiler are located, was quickly extinguished, …

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