Posted on 03/06/2022 7:51:53 PM PST by FarCenter
The self-imposed embargo of Russian oil is spreading to Kazakhstan crude, with three shipments canceled in the past 24 hours.
The Wonder Vega, Free Spirit and Stealth Haralambos, all Marshall Islands-flagged vessels, were Black Sea-bound for the Port of Novorossiysk.
S&P Global informed clients of the three canceled loadings, citing the war risk premium associated with the grade of oil.
These latest cancellations led the Chevron-led consortium at Tengiz — Kazakhstan’s highest-producing oil field — to issue a statement that it was “monitoring developments.”
Production is continuing, according to the consortium.
...
“CPC Pipeline (Caspian Pipeline Consortium led by Chevron), which originates in Kazakhstan and ends at the Russian port of Novorossiysk on the Black Sea, carries both Kazakhstan and Russian oil,” said Lipow. “Buyers are hesitant because of the risk of Kazakhstan’s oil being ‘tainted’ with ownership from a sanctioned individual or entity.”
(Excerpt) Read more at freightwaves.com ...
I’ll buy Russian oil/gas at Trump prices. Give me $2.00/gal gas, I say fillerup.
WTI at about $125 pre-open for Monday
That is up 50% in a month.
Up 100% in a year of Brandon.
I have worked in oil business 45 years now, never seen such insane oil price inflation.
Obama/Rice-‘/Klain Junta is trying to kill US and Europe in one blow.
Brandon is trying to read the teleprompter about the Euranisns mscmsghyt.
Brace for $9-12.
Wasn’t the trouble there recently because of fuel prices? Why would they want it to be worse? Peace please, folks.
Seems we will have a two tier system: Greatly reduced prices for those willing to buy from Russia and pay in alternate currencies.
$200/barrel for the USA and Europe.
$125? Another thread says it is already at $130.
Not possible. Look up what the word fungible means.
This will not end well.
L
And what about Iranian crude? They give a 10% discount to China - because China DGAF. Look up the word "government sanctions"
Face it. Things will get much worse. Rapidly rising oil and gas much more than just higher gas prices in the US. These high energy costs will disrupt economic activity or all sorts and cause worldwide inflation. Most ominously food supplies will be curtailed. Its a given that Ukraine wheat and other grain exports will diminish greatly and russia itself will be hard pressed to maintain production. Shortages of fertilizer and increased prices will curtail production everywhere. If there is a serious drought or a natural disaster in China or India, real famine and starvation would occur.
The insane voluntary curtailment of pipelines, oil and gas exploration and production, the abandonment of coal and nuclear power will lead to social, economic and political disorder. More wars will follow.
“How did we get to the place where, you know, Putin just decides he’s gonna invade *RUSSIA*? Something like this hasn’t happened since World War 2.” - Joe “Baked Potato” Biden
The billionaires, the Elites and the WEF don't need many peasants around to keep their personal pleasure planet humming...
Kazakhstan? We’re gonna need their potassium for fertilizer.
They could at least be honest in their reporting !
“The self-imposed embargo” my ass !
Would you sail into a hot war zone to pick up a load of highly flammable oil/gas ?!?
“...were Black Sea-bound for the Port of Novorossiysk...”
what did they cite?
“...citing the war risk premium ...”
Sounds like their insurance carriers are not to keen on the idea of insuring an oil carrier in a HOT war zone either !
How should this read...
“...“Buyers are hesitant because of the risk of Kazakhstan’s oil being...”
BLOWN TO SMITHEREENS BY ONE OF THE BELLIGERENT PARTIES !!!
After all...
“Two cargo ships hit by blasts around Ukraine, one seafarer killed...” March 3 2022
That article says:
“Many shipping firms have suspended journeys to Black Sea ports and other terminals in Ukraine amid soaring recent insurance premiums for such voyages.”
SOARING INSURANCE PREMIUMS !!!
At least 3 commercial vessels have already been hit.
“At least three commercial ships have been hit separately by projectiles since Feb. 24 when Russia’s invasion began.”
An Estonian-owned cargo ship “MV Helt” was sunk Thursday off Odessa.
A Bangladeshi vessel Banglar Samriddhi was hit by a missile at a port east of Odessa. That attack killed “The deceased, Hadisur Rahman, was the third engineer”
Russia could sieze your ship if the delivery is going to someone they don’t like.
NATO could sink your ship if they suddenly get involved and bomb the loading port.
Ukraine may still have a working plane or jet or two.
... and the insurance companies are going to want a FORTUNE to sail into harms way.
It will not get to $9-12/gallon.
The is a bunch of Let’s Go Brandon FJB BS. The Russkis don’t care who boycotts their oil. They’ll sell it to the Red Chinese who will be glad to get it.
The circle of stupidity expands.
The=This.
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