Russian oil major Rosneft posted a 47% year on year rise in bunker sales volume during 2017, it said in an operations update.
It delivered 2.8 million metric tonnes (mt) of marine fuel to receiving vessels located at the main sea and river ports of Russia, including a number of foreign destinations.
“Development of the premium oil products sales channels, including jet fuelling, bunkering and bitumen segments, is among the company's priorities,” it said in the update.
“In 2017, the company's continued maintaining and extending its market share at bunkering fuel market.
“In Q2 2017, the Komsomolsk refinery and Angarsk Petrochemical Company switched from straight run fuel oil production to cracking fuel oil production, improving the market competitiveness and sales volumes to the world's largest bunkering consumers – the ocean container lines in the ports of Primorsky region.”
Overall, Rosneft recorded a daily liquids production rate of 4.55 mmboe (million barrels of oil equivalent) in Q4 2017. The company produced a total 225.5 mmboe of liquid hydrocarbons in 2017, up by 7.6% on year.
Total fuel oil production in 2017 was 23.04 million mt, up by 1.7% when compared to production of 22.65 million mt in the year before.
The company posted net profit of $3.8 billion in 2017, an increase of 40.7% from net profit of $2.7 billion in 2016.
Photo credit: Rosneft
Published: 20 March, 2018
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.
Dwivedi Vivek Kumar ended his tenure as Global Head – Bitumen & Shipping & Regional Head – APAC at GP Global APAC on 10 November 2020 due to internal structuring of the GP Global Group.