All posts tagged: barrels

Three Supertankers Carrying 6 Million Barrels Exit Strait Of Hormuz

Three Supertankers Carrying 6 Million Barrels Exit Strait Of Hormuz

Published by Jenni Sidey

Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, according to Reuters. The vessels departed the strategic waterway on Wednesday, after being stranded inside the Persian Gulf for over two months, lending hope to an end to the closure of the strait. The crude cargoes were split evenly among three Very Large Crude Carriers (VLCCs) heading to Asian refining hubs. The first was Universal Winner, a South Korean-flagged supertanker carrying 2 million barrels of Kuwaiti crude oil. Shipping data on LSEG and Kpler showed that the vessel is currently en route to Ulsan, South Korea, to discharge at an SK Energy facility by June 9. The second VLCC was Yuan Gui Yang, a Chinese-flagged vessel hauling 2 million barrels of Iraqi Basrah crude. Chartered by Unipec (the trading arm of Sinopec), the supertanker is heading toward Guangdong province with an expected arrival on June 4. Finally there was Ocean Lily, a Hong Kong-flagged tanker loaded with 2 million barrels split evenly between Qatari …

Tankers Seized By US Carried 20 Million Barrels Of Iranian Crude To China

Tankers Seized By US Carried 20 Million Barrels Of Iranian Crude To China

Published by Jenni Sidey

Nine tankers seized by the US since it began taking direct action against the so-called shadow fleet that transport illicit oil around the world have delivered more than 20 million barrels of Iranian crude to China since 2013, according to the WSJ. The figures form part of a new report that provides an insight into the level of support China has given Iran by buying its sanctioned oil. Between 2013 and 2025, these nine vessels delivered 20.3 million barrels of Iranian crude to Chinese ports, the report said, citing data from Kpler. The vessels also carried 37.9 million barrels of Venezuelan crude and 11.1 million barrels of Russian crude to Chinese ports. U.S. forces taking control of an oil tanker in the Indian Ocean Altogether, that crude is worth at least $4 billion, according to the report, which is set to be released soon by Republicans on the House Select Committee on China, and seen by The Wall Street Journal. To be sure, the amount from the seized vessels represents just a small fraction of …

In Win For Putin, India Buys 60 Million Barrels Of Russian Oil, As Refiners Increasingly Transact In Yuan, Dirham

In Win For Putin, India Buys 60 Million Barrels Of Russian Oil, As Refiners Increasingly Transact In Yuan, Dirham

Published by Jenni Sidey

Indian refiners have bought about 60 million barrels of Russian oil for delivery next month, which is set to ease some supply concerns as the Middle East war chokes flows. Citing people familiar, Bloomberg reports that the cargoes were booked at premiums of $5 to $15 a barrel to Brent. The volume is similar to the amount of purchases for this month, but more than double than that for February, according to data intelligence firm Kpler. The buying spree followed a US waiver that allowed India to take Russian oil that was already loaded onto vessels before March 5 to offset shortages caused by the effective closure of the Strait of Hormuz. The measure was subsequently expanded to include other countries and updated to allow purchases of crude already at sea before March 12. India has bought ~60 million barrels of Russian oil in March, and already booked a similar amount for delivery in April. The purchases are at a premium of $5-$15 a barrel **above** the Brent benchmark. And current prices, that’s worth >$6.5 billion for …

Trump says US has received 80m barrels of Venezuelan oil; 3rd tanker seized | Oil and Gas News

Trump says US has received 80m barrels of Venezuelan oil; 3rd tanker seized | Oil and Gas News

Published by Sam Flores

US forces have ‘captured’ a third oil tanker in the Indian Ocean weeks after it reportedly left Venezuelan waters. Listen to this article | 3 mins info Published On 25 Feb 202625 Feb 2026 Click here to share on social media share2 Share President Donald Trump has said the United States has received “more than 80 million barrels of oil” from Venezuela, hours after the Pentagon said US forces had “captured” a third “sanctioned” oil tanker in the Indian Ocean. “We just received from our new friend and partner, Venezuela, more than 80 million barrels of oil,” Trump announced during his State of the Union address in Washington, DC, on Tuesday night. Recommended Stories list of 4 itemsend of list “American oil production is up by more than 600,000 barrels a day,” said Trump, who reiterated his promise to “drill, baby, drill” for oil as president. Trump’s lauding of growth in the US oil sector comes after he sent special forces to conduct a bloody raid on Caracas in January and abduct Venezuela’s President Nicolas Maduro, who …

Trump says Venezuela to give up to 50 million barrels of oil to U.S.

Trump says Venezuela to give up to 50 million barrels of oil to U.S.

Published by Sam Flores

An oil tanker is docked at a pier at the El Palito refinery of the state oil company PDVSA. Jesus Vargas | Picture Alliance | Getty Images President Donald Trump said Tuesday evening that the interim authorities in Venezuela will be turning over between 30 million to 50 million barrels of oil to the United States on the heels of the U.S.’s dramatic ouster of the South American country’s authoritarian leader, Nicolas Maduro. Trump, in a social media post, said the oil will be sold at its market price, “and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!” “I have asked Energy Secretary Chris Wright to execute this plan, immediately,” Trump wrote. “It will be taken by storage ships, and brought directly to unloading docks in the United States.” Trump said that the oil being turned over the U.S. was “high quality” and “sanctioned.” U.S. crude futures fell 1.3% to $56.39 per barrel on …