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08.07.25 - 02:36
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Oil Closes At Session High As Houthi Rebels Hit Second Greek Vessel In Red Sea (ZeroHedge)
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Oil Closes At Session High As Houthi Rebels Hit Second Greek Vessel In Red Sea
By Charles Kennedy of OilPrice.com
A Greek-operated bulk carrier was attacked in the Red Sea on Monday in the second Houthi strike on commercial shipping in less than 24 hours, stoking fears of a renewed escalation in one of the world's most critical oil transit corridors, Arab and Israel media report.
The Eternity C, a Liberia-flagged vessel managed by Athens-based Cosmoship, was hit off Yemen's Hodeidah coast using a combination of sea drones, rocket-propelled grenades, and small arms. Two seafarers were seriously injured and two more are missing, according to shipping intelligence sources cited by media. The vessel was reportedly en route to Iran with a cargo of steel.
The attack follows Sunday's strike on the Magic Seas, another Greek-managed bulk carrier. Houthi militants claim the Magic Seas has sunk. That vessel was hit southwest of Hodeidah and its crew abandoned ship before rescue. Both ships are Liberia...
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16.06.25 - 15:30
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Metacon announces release of advance payment guarantee and the release of EUR 3.96 million of restricted cash from Motor Oil (Cision)
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Metacon has, through fulfilment of the requirements for release of the advance guarantee, gained access to EUR 3.96 million (corresponding to approximately SEK 43.3 million at today's exchange rate) regarding the previously made advance payment from Motor Oil Hellas.
The reason why the advance payment made after the signing of the contract in the autumn of 2024 was restricted is that Metacon's bank required this to provide the advance guarantee requested by the customer. The activities that the customer demanded to be fulfilled to release the warranty claim have now been fulfilled by Metacon...
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04.03.25 - 15:31
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Metacon awarded an add-on contract for an additional 20 MW electrolysis plant from Motor Oil Hellas (Cision)
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Metacon AB (publ) has been appointed supplier and awarded an add-on contract for the supply of a 20 MW pressurised alkaline electrolysis plant for hydrogen production to Motor Oil (Hellas) Corinth Refineries S.A., Greece ("Motor Oil"). The complete contract package is under development and expected to be finally signed in the near-term and have a value of EUR 10,6 million in total, equivalent to approximately SEK 117,8 million with current exchange rate and the compensation will be paid in instalments in accordance with a later established payment schedule. This order by Motor Oil will...
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19.12.24 - 09:36
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Helleniq Energy agrees to divest stake in gas supplier DEPA Commercial (Reuters EN)
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Helleniq Energy agrees to divest stake in gas supplier DEPA Commercial ATHENS, Dec 19 (Reuters) - Greece's biggest oil refiner Helleniq Energy HEPr.AT has agreed to sell its 35% stake in gas supplier DEPA Commercial to the country's privatisation agency for 208 million euros ($216.32 million), it said on Thursday. ($1 = 0.9615 euros) Reporting by A...
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27.11.24 - 13:48
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Secret Russian "Ship To Ship" Oil Switching Moves To New Greek Hotspot After Naval Drills (ZeroHedge)
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Secret Russian "Ship To Ship" Oil Switching Moves To New Greek Hotspot After Naval Drills
For much of the past three years, tankers carrying Russian crude oil - usually in violation of western embargo - skirted western sanctions and oversight by engaged in so-called Ship-to-Ship (STS) transfers somewhere in the open sea far from prying eyes and even further from hostile coast guard supervision.
The practice, usually carried out in secret with digital tracking beacons switched off or falsified, can help to obscure the origins of the oil, helping to beat sanctions. It also creates another layer of separation between the buyers and sellers of cargoes.
Of course, to keep STS as a viable option, the places where it takes place have to change periodically. And as Bloomberg reports, the secret switching of Russian fuel cargoes between tankers at sea has migrated to new hotspots off the coast of Greece after the European country used naval drills to try and block the activity in one location.
About 1...
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