Russian state-controlled Rosneft Oil Company has reportedly set up a new Geneva-based trading business after being sanctioned by the US Treasury Department’s Office of Foreign Assets Control (OFAC) in March for operating in the oil sector of the Venezuelan economy.
The new entity, known as Energopole SA, will carry out operations formerly run by Rosneft Trading, which include supplying Rosneft’s refineries in Germany and some trading operations in Europe, according to a report by Reuters.
Energopole SA is a subsidiary wholly owned by Rosneft and is not affiliated with Rosneft Trading SA.
The report also reads Rosneft has terminated all operations in Venezuela and disposed of assets in relation to its operations there in order to protect its shareholders.
Photo credit: Rosneft
Published: 5 June, 2020
Caroline Yang, President of SSA, addresses issues earlier raised by players; including PMC No. 04, the seven-day restriction, contactless bunkering, sampling point, hose connection, and more.
IBIA Asia, ABIS, sources from Singapore’s bunkering and surveying companies, and an industry veteran share with Manifold Times the issues expected from MPA’s latest Covid-19 measures.
The top three positive movers in the 2020 bunker supplier list are Hong Lam Fuels Pte Ltd (+13); Chevron Singapore Pte Ltd (+12); and SK Energy International (+8), according to MPA list.
‘We will operate in the Singapore bunkering market from the Tokyo, with support from local staff at Sumitomo Corporation Singapore,’ source tells Manifold Times.
Changes include abolishing advance declaration of bunkers as dangerous cargo, reducing pilotage fees on vessels receiving bunkers, and a ‘whitelist’ system for bunker tankers.
Claim relates to deliveries of MGO to the vessels Pacific Diligence, Pacific Valkyrie, Pacific Defiance, Crest Alpha 1, and Pacific Warlock between March 2020 to April 2020.