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China’s CNOOC completes largest LNG bunkering operation

  • Market: Natural gas
  • 11/06/25

The world's largest LNG bunkering vessel (LNGBV) Hai Yang Shi You 301, owned by Chinese state-owned CNOOC, has completed its largest LNG bunkering operation to date in Hong Kong, CNOOC announced on 10 June.

The LNGBV refuelled German container ship Hanoi Express with 4,300t of LNG at the Kwai Tsing container terminal in Hong Kong.

The operation was completed in just 8.5 hours, CNOOC said, which is a new record for refuelling efficiency in Hong Kong. Faster refuelling operations can help to shorten port turnaround time and save operating costs, the firm added.

This marks the first LNG bunkering operation done by Hong Kong at a terminal. It was also the first time that simultaneous operations (Simops) was carried out at a terminal. Simops involve an LNG bunkering operation that is completed alongside another operation, such as unloading or loading procedures.

The completion of the LNG bunkering operation is a significant step towards improving Hong Kong's marine fuel supply capabilities and enhancing its status as a maritime centre. Hong Kong is the world's seventh largest bunkering centre and serves over 5,000 international ships yearly.

The vessel Hai Yang Shi You 301 is China's first LNGBV and mainly provides LNG bunkering operations to international ships. It has an LNG capacity of 30,000m³ and is able to refuel up to 1,650m³ of LNG every hour.

CNOOC aims to leverage its comprehensive LNG supply chain and its position as China's largest LNG importer to accelerate the construction of a clean fuel supply chain in Hong Kong.


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17/06/25

US Supreme Court asked to rule on tariffs

US Supreme Court asked to rule on tariffs

Washington, 17 June (Argus) — Plaintiffs in one of the legal cases challenging President Donald Trump's authority to impose tariffs are asking the Supreme Court to hear their arguments even before US federal appeals courts rule on their petition. The legal case brought by the plaintiffs — toy companies Learning Resources and hand2hand — resulted in a ruling by the US District Court for the District of Columbia in late May that Trump did not have the authority to impose tariffs by citing a 1978 law called the International Emergency Economic Powers Act (IEEPA). That case is currently on appeal at the US Court of Appeals for the DC Circuit. The plaintiffs today urged the Supreme Court to take the case and schedule oral arguments at the start of its fall term in October, or possibly in a special September sitting. The plaintiffs argued the Supreme Court will eventually have to rule on the case given the unprecedented use of IEEPA by the Trump White House to impose tariffs, so special consideration should be given to the case even before appeals courts rule on it. The Supreme Court is under no obligation to fast-track the case. The schedule for legal challenges to Trump's authority is clashing with his claims to be negotiating multiple deals with foreign trade partners. Trump cited the IEEPA to impose, then rescind, tariffs of 10-25pc on energy and other imports from Canada and Mexico in February-March. He used the same law to impose 20pc tariffs on China in February-March, and to impose 10pc tariffs on nearly every US trading partner in April. The US Court of Appeals for the DC Circuit has stayed the toy companies' case until the resolution of a separate, broader legal challenge to Trump's tariff authority. In that case, the US Court of International Trade ruled in late May that Trump's use of IEEPA was illegal and ordered the administration to remove all tariffs it imposed under that rubric and to refund all import duties it collected. The trade court's ruling is under review at the US Court of Appeals for the Federal Circuit, which scheduled an oral argument on 31 July to hear from plaintiffs — a group of US companies and several US states — and from the Trump administration. The trade court's ruling in late May was unexpected, as it "actually ruled on the merits of the case, as opposed to just granting or denying an injunction," according to Alec Phillips, chief political economist with investment bank Goldman Sachs' research arm. "The question now is, will the Federal Circuit uphold the ruling, and will ultimately the Supreme Court uphold the ruling?" The Trump administration argued that the legal challenges to its tariff authority could undermine its ability to negotiate with foreign trade partners. The administration has so far produced two limited trade agreements, with the UK and China, despite promising in early April to unveil "90 deals in 90 days". Trump on Monday described ongoing trade negotiations as an easy process. "We're dealing with really, if you think about it, probably 175 countries, and most of them can just be sent a letter saying, 'It'll be an honor to trade with you, and here's what you're going to have to pay to do'", Trump said. But on the same day he pushed back on calls from Canada and the EU to negotiate trade deals, arguing that their approach is too complex. "You get too complex on the deals and they never get done," Trump said. The legal challenges to Trump's authority under IEEPA will not affect the tariffs he imposed on foreign steel, aluminum, cars and auto parts. US trade statistics point to a significant tariff burden in place in April, the latest month for which data are available.The effective US tariff rate on all imports — the amount of duties collected divided by the total value of imports — rose to 7.1pc in April from 2.4pc in January. Trump has dismissed concerns about the impact of tariffs on consumer prices, noting on Monday that "we're making a lot of money. You know, we took in $88bn in tariffs." Treasury Department revenue data show that the US has collected $98bn in customs revenue for the year through 13 June, up from $63bn in the same period last year. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump wants Iran's ‘unconditional surrender’: Update


17/06/25
News
17/06/25

Trump wants Iran's ‘unconditional surrender’: Update

Updates with details throughout Washington, 17 June (Argus) — US president Donald Trump is taking an increasingly bellicose tone toward Iran following Israel's devastating military strikes, while the White House national security council is discussing Washington's next steps in a conflict that could engulf the world's largest oil producing region. Trump, in a social media post today, called for Iran's "UNCONDITIONAL SURRENDER" — without specifying what that would entail. He claimed that "we now have complete and total control of the skies over Iran", seemingly linking the US to the Israeli attack. And he said that Iran's supreme leader, Ayatollah Ali Khamenei, "is an easy target", but added: "We are not going to take him out (kill!), at least not for now." The White House, meanwhile, began to spread a narrative that suggested that the US could join in Israeli strikes on Iran's nuclear facilities, even if Tehran does not directly attack US interests or personnel in the region. Trump "has shown remarkable restraint in keeping our military's focus on protecting our troops and protecting our citizens," vice president JD Vance posted on social platform X, adding that Trump "may decide he needs to take further action to end Iranian enrichment". Trump cut short his visit to the G7 leaders summit in Canada to return to Washington Monday night. The US administration has come under intense lobbying from the isolationist wing of politicians loyal to Trump, who have called publicly for him not to commit US military personnel and resources to attack Iran. Senate Democrats, in turn, began to circulate legislation demanding that Trump ask for authorization from Congress before using military force against Iran. Trump blasted former Fox News anchorman Tucker Carlson as "kooky" for arguing vociferously against US participation in any attack in Iran. Trump, at the same time, criticized French president Emmanuel Macron for suggesting that Trump's early exit from the G7 summit was meant to work toward a ceasefire in the Middle East. "People are right to be worried about foreign entanglement after the last 25 years of idiotic foreign policy," Vance said. "But I believe the president has earned some trust on this issue." Trump, in stump speeches during the presidential campaign and since reclaiming the White House, has frequently denounced his predecessors for entangling the US in wars in the Middle East. In a speech in Riyadh last month, Trump offered "peaceful engagement" to Tehran and criticized his predecessors as "the interventionists (who) were intervening in complex societies they did not understand". Since Israel first launched its attack on Iran on 13 June, the US has warned Tehran not to target US forces in retaliation. Iran has taken no such step and has called on Trump to restrain Israel from further attacks to allow US-Iran nuclear diplomacy to resume. Iran in recent years has relied on its proxy networks in Iraq, Syria and Yemen to launch attacks on US forces. The degree of Tehran's remaining control over those proxy groups is uncertain. Iran also has not tried to block vessel traffic through the strait of Hormuz, a critical waterway that in 2023 accounted for 27pc of global maritime oil trade. Targeting vessel traffic in Hormuz would mark an irreversible escalation in the conflict, with damaging consequences for Iran as well as the global oil trade. Iran's Mideast Gulf neighbors, which have invested in better relations with Tehran in recent years, are watching the prospect with concern. "The UAE stands for dialogue, de-escalation and diplomacy," Abu Dhabi's state-owned Adnoc chief executive Sultan al-Jaber said at an energy forum in Washington today. "We call on parties to show restraint, and we reaffirm our belief in peace over provocation." US energy secretary Chris Wright was scheduled to speak at the same forum, hosted by think tank the Atlantic Council, but he abruptly cancelled his appearance to participate in the White House discussions on Iran. The US is rushing military, naval and air assets to the Middle East, saying the buildup is aimed at enabling Israel to protect itself from Iranian missile strikes. While Israel has targeted the majority of Iranian nuclear sites, it likely will be unable to destroy Iran's Fordow nuclear enrichment facility on its own. Fordow suffered only minor damage in recent days, and Israel appears to believe that leaving the plant operational would mean a failure of a key military goal, said retired general Frank McKenzie, who served as the commander of Middle East-based US forces in 2019-2022. "I'm certain they're going to get around to Fordow as it may be, trying to get us into the conflict," McKenzie said on Monday. "But I don't see how we get in unless we're attacked, and the Iranians have been very careful about not doing that up until now." By Haik Gugarats and Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump repeats call for Russia to rejoin G7


16/06/25
News
16/06/25

Trump repeats call for Russia to rejoin G7

Washington, 16 June (Argus) — US president Donald Trump kicked off his first meeting at the G7 leaders summit in Alberta, Canada, by suggesting that Russia should be invited to rejoin the group from which it was expelled following the invasion of Crimea in 2014. The European members of the group have prepared a wide portfolio of subjects to address at the summit, including proposals to toughen G7 sanctions on Russia. European Commission president Ursula von der Leyen has proposed lowering the G7 price cap on Russian crude to $45/bl and banning imports of refined products made from Russian oil. But Trump, at the beginning of his meeting with Canadian prime minister Mark Carney today, said that "you spend so much time talking about Russia, and [Russian president Vladimir Putin] is no longer at the table, so it makes life more complicated." Expelling Russia was a mistake, Trump said, blaming the decision on former US president Barack Obama and former Canadian prime minister Justin Trudeau. The broader political background is in some ways similar to the G7 summit in 2018, also hosted by Canada, when Trump first told his fellow western leaders they should not have expelled Russia from the group. Now as then, sanctions against Russia are on the G7 agenda and the US Congress is advancing legislation to target Russia's energy exports. The key difference is that Trump in 2025 has sufficient control over the Republican majority in both chambers of Congress to block any legislation he does not like. "They'll be guided by me" on the Russia sanctions legislation, he said earlier this month, calling it a "harsh bill". "At the right time, I'll do what I want to do. But they're waiting for me to decide on what to do," Trump said. Trump has argued that imposing new economic penalties against Russia would derail the ongoing Russia-Ukrainian peace talks, even though he has acknowledged the negotiations have made no progress. Trump is scheduled to meet with Ukrainian president Volodymyr Zelenskiy on the sidelines of the G7 summit, the White House said. Not seeing eye-to-eye on trade, either Trump's fellow leaders were hoping to push him to roll back the unilateral tariffs he imposed on nearly all US trading partners, but Trump's public comments at the start of his meeting with Carney indicated no willingness to compromise on this issue as well. "I think we have different concepts," Trump said. "I have a tariff concept. Mark has a different concept, which is something that some people like, but we're going to see if we can get to the bottom of it today. I am a tariff person." Canada's strong response to Trump's tariffs made him roll back the broad tariffs he imposed on the US' North American neighbors at the beginning of his second term. The bulk of US imports from Canada and Mexico remains duty-free, but Trump's tariffs on steel, aluminum, cars and auto parts do not make an exemption for Canada and Mexico. The effective US tariff rate on imports from Canada and Mexico — the amount of duties collected from all imported goods divided by their value — rose in April to 2.3pc and 4.1pc respectively, up from nearly zero in January, according to US Department of Commerce data. Trump is separately meeting with Mexico president Claudia Sheinbaum later today. Despite a busy pace of meetings with fellow leaders, Trump extended the customary press gaggle at the beginning of his meeting with Carney to take questions on US domestic politics, including his directive Sunday night to the US immigration authorities to carry out massive raids in the largest US cities. Carney in the end had to cut Trump off, asking him to carry on with their meeting. "We have a few more minutes with the president and his team, and then we actually have to start the [G7] meeting to address some of these big issues," Carney said. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Climate groups on alert for Brazil oil auction


16/06/25
News
16/06/25

Climate groups on alert for Brazil oil auction

Sao Paulo, 16 June (Argus) — Climate change monitoring groups say that Brazil's upcoming oil and natural gas block auction will help increase CO2 emissions, a direct contradiction to the country's climate agenda. The auction, to be held on 17 June , will offer permanent concessions for 332 blocks, including several in the Amazon basin. Burning resources from these blocks could release more than 11bn metric tonnes of CO2 equivalent (tCO₂e), which exceeds the agribusiness' sector emissions over the past six years, according to non-profit climate change institute Climainfo and greenhouse gas tracking platform SEEG data. The agribusiness sector is one of the main CO2 emitters in Brazil, accounting for around 27pc of all of the country's emissions in 2023, according to SEEG. The environmentally-sensitive Foz do Amazonas offshore basin , along with other six Amazon sedimentary basins included in the offer — Parecis, Solimoes, Amazonas, Parnaiba, Barreirinhas and Para Maranhao — contain reserves of 69bn bl of oil equivalent. If exploited, these fossil fuels could release 24bn tCO₂e, nearly half of all global emissions in 2023, according to non-profit transition energy global network Fossil Fuel Treaty. Conflicting agendas The climate groups and other environmentalists argue that the upcoming auction highlights Brazil's contradictory stance on oil production and the fight against climate change. President Luiz Inacio Lula da Silva has spoken in favor of oil production several times — even clashing with environmental watchdog Ibama over a delay to award permits to drill the equatorial margin — despite also positioning himself and the country as a leaders in the fight against climate change . Brazil is one of the few G20 members that has unveiled NDCs under the Paris climate agreement, although some climate groups accuse them of lacking ambition . The country set a target of reducing its greenhouse gas emission (GHG) by 59-67pc below 2005 levels by 2035, which represents around 850mn-1.05bn tCO2e, according to the government. But many environmentalists find those two positions to be contradictory. "Brazil now has the chance to lead by example by suspending the auction and show the world...that it is ready for a just, sustainable, and fossil-free future," senior campaigner at nonprofit environmental advocacy organization Stand.earth Gisela Hurtado said. "The auction of new oil blocks in the Amazon must be canceled now," according to Mauricio Guetta, director of law and public policy at climate change NGO Avaaz, adding that the issue is "a matter of justice for indigenous peoples and the forest." "We need a global agreement to phase out oil extraction in a fair and just way," Fossil Fuel Treaty's campaign coordinator Clara Junger said. "In the meantime, the bare minimum is to stop the expansion [of production]." The federal prosecutor's office in Brazil's Para state recommended suspending the 17 June auction, or at least the exclusion of the Foz do Amazonas blocks. And climate institute Instituto Arayara also filed lawsuits challenging the bidding round. But the challenges were ignored and the auction will go ahead as planned. Brazil's oil production will peak at 5.3mn b/d in 2030, a 47pc rise from 3.6mn b/d in 2024, according to the government's 10-year plan for energy expansion. Indigenous groups worry, too Indigenous groups are also speaking out against oil exploration in Brazil and plan to use the auction and the upcoming UN Cop 30 climate conference — to be held in Para, in November— to also protest fossil fuel extraction in Foz do Amazonas. The initiative — led by the Coordination of Indigenous Organizations of the Brazilian Amazon (Coiab) with support from the Articulation of Brazil's Indigenous Peoples (Apib) and the International Coalition of the Indigenous Amazon — is pleading for a "just energy transition that prioritizes community-based renewable energy instead of predatory projects in its delimited territories." Other statements include pleas for an "official international commitment" to recognize indigenous lands as climate mitigation policies, direct access to climate resources from indigenous organizations and funds to ensure autonomy, protection of voluntary isolation. The group drafted a declaration — signed by entities representing more than 300 Brazilian indigenous groups as well as 28 segments of traditional communities and indigenous organizations of the Amazon basin — that will be presented at the Bonn climate conference next week. It is also planning protests during the 17 June auction. Brazil's NDC also commits to improving territorial, indigenous and environmental monitoring, the groups say. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Electronic interference rising in Mideast Gulf: UKMTO


16/06/25
News
16/06/25

Electronic interference rising in Mideast Gulf: UKMTO

Dubai, 16 June (Argus) — Electronic interference within the waters of the Mideast Gulf and the strait of Hormuz are at elevated levels, the UK Maritime Trade Operations (UKMTO) said today. The UKMTO "has received multiple reports… that there is increasing electronic interference within the waters of the Gulf," it said. Monitoring of automatic identification systems (AIS) by the UKMTO has confirmed the finding, it said. The warning comes during a new escalatory cycle between Israel and Iran that was triggered by a series of air and missile strikes by Israel on several key Iranian military and nuclear sites on 13 June. Iran responded with ballistic missile and drone strikes on military targets in Israel, including the Kirya complex in Tel Aviv, which houses the defence ministry headquarters. The two sides have been exchanging missile fire with increasing intensity ever since, with critical energy infrastructure being hit. The UKMTO said electronic interference across the wider region has been rising in this period, which is "having a significant impact on vessels' positional reporting" through automated systems. It advised vessels transiting through Mideast Gulf and nearby waters to do so "with caution" and continue to report incidences of electronic interference. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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