Tag

Petroleum Products

All articles tagged with #petroleum products

disasters2 years ago

Yellowstone River train derailment prompts federal action.

A train derailment in Montana caused multiple tanker cars to crash into the Yellowstone River, with some leaking petroleum products. The cause of the derailment is still unknown, and federal organizations are responding to the collapse. The river has been closed, and boaters are asked to avoid the area. The city of Billings has shut down water intake into the metro area as there is potential for undesired material being discharged into the Yellowstone.

energy2 years ago

Russia's Oil Industry Adapts to Shifting Trade Routes and Sanctions.

Western embargoes on seaborne imports of Russian crude and refined products have disrupted traditional oil shipping routes, leading to inefficient trade patterns and higher shipping costs for petroleum products. The EU ban on Russian petroleum products has resulted in Russia diverting its oil product cargoes to North Africa and Asia, while Europe has increased imports from the Middle East, Asia, and North America. This has boosted demand for tankers hauling petroleum products, with orders for fuel tankers soaring to the highest in a decade. The changes in clean petroleum product trade flows out of Russia have exacerbated tightness in the global market, with vessel requirements in the medium-range segment increasing and fleet growth staying limited for at least the next two years.