Iran reportedly exports between 200,000-600,000 metric tonnes (mt) of fuel oil per month\u00a0depending on domestic consumption, which dropped by 25 percent to 25.5 million litres between March 20 and June 20.
As a result, Iran is said to be offering its excess fuel oil to passing ships in the Persian Gulf and the Strait of Hormuz, and is in talks with a number of countries to acquire export deals.
The report also suggested that while Iran has long-term contracts to sell fuel oil with the Persian Gulf littoral states, including the port of Fujairah, a new marketing effort has begun to increase sales of Iranian product.
Skangas duel fuel LNG carrier Coral Energy (image credit/Skangas)
Liquified natural gas (LNG) bunker tanker Coralius has made its first trip loading and delivering LNG to and from Norwegian ports, according to trade press reports.
The 5,800 cubic meter capacity tanker, which is owned by Norwegian gas company Skangas, was delivered to the company in June. Skangas also operates LNG carrier Coral Energy.
OPEC Cutback Extension to be Discussed in November, But Developments Could Render Any Deal Meaningless
Analysts say everything from Saudi exploration to rising tensions with North Korea could radically alter the dynamics of the international market. File Image / Pixabay
Ever since the Organization of the Petroleum Exporting Countries (OPEC) extended the duration of its production cuts earlier this year to March of 2018, speculation has been rampant that the meager cutback volume coupled with the large number of members