Japanese Tanker Crosses Hormuz as Shell Warns of Prolonged Shortages
A Japanese-owned oil tanker carrying 2 million barrels of crude crossed the Strait of Hormuz after receiving permission from Iran, according to Iranian state media and ship-tracking data. Iran said the vessel, the Idemitsu Maru, had loaded at Ras Tanura in Saudi Arabia. Separately, Iran’s mission to the United Nations said Tuesday that Tehran is not a party to the United Nations Convention on the Law of the Sea and is therefore not bound by its provisions, while asserting its authority as the main coastal state over the strait.
US Energy Secretary Chris Wright said ships do not need every mine in the Strait of Hormuz removed before transits can resume, adding that only a navigable pathway is required and that such a route could be established quickly. Shell Chief Executive Officer Wael Sawan said the oil and liquefied natural gas shortages caused by the blockade are likely to last for months and possibly into next year, with roughly 900 million barrels of output lost over the past couple of months and replaced mainly by stock drawdowns.
From the sources (6 posts)
@staunovoRT @JavierBlas: The Idemitsu Maru has now fully exited the Strait of Hormuz. It's the first oil supertanker owned by a Japanese company t…
@staunovoIran’s mission to the U.N. in New York said Tuesday it is not a party to the United Nations Convention on the Law of the Sea and as a result not bound by its provisions, asserting its authority as the main coastal state over the Strait of H
@staunovoA large Japanese-owned oil tanker crossed the Strait of Hormuz carrying two million barrels of crude after receiving permission from Iran, according to Iranian state media and ship trackers. The tanker had been in Saudi Arabia in February,
@staunovoNot all mines placed by Iran in the Strait of Hormuz need to removed for ships to resume transiting the vital passageway, US Energy Secretary Chris Wright said Tuesday. “You just need a pathway for ships to be moved in and out,” Wright sai
@staunovoThe oil and liquefied natural gas shortages caused by the blockade of the Strait of Hormuz are likely to drag on for months and possibly into next year, Shell Plc Chief Executive Officer Wael Sawan said. “We are talking about roughly 900 m
@oilandenergyFirst LNG and crude tankers are now exiting the Strait of Hormuz, signaling a potential thaw in the Iran conflict. However, flows remain severely constrained, keeping global energy markets on edge. #Oil #LNG #Geopolitics