08 Sep Latest Oil news and commentary
(Oilandgaspress) 08/09/26, Qatar and the UAE are rerouting damaged LNG tankers via ship-to-ship transfers to keep gas flowing to buyers worldwide, in emergency operations that add more than $1 million per transfer and up to 35 hours of additional sailing time as the ongoing war continues to affect traffic through the blockaded Strait of Hormuz.Ship-to-ship LNG transfers are technically complex and rarely used outside emergencies.
Unlike crude oil, which can be transferred between vessels relatively quickly, LNG must be kept at minus 162 degrees Celsius to remain liquid. The transfer requires specialist cryogenic equipment, fenders, tugboats and trained personnel on both ships.
Vestas announced the following orders as part of our Q3 order intake:
| Country | Region | Customer | Project name | MW | Turbine varaint | Service agreement | Delivery & commissioning |
| Italy | EMEA | SIMIC Group | Castellani | 45 | 10 x V163-4.5 MW | 20-year AOM 5000 Service Agreement | Delivery and commissioning planned for second half of 2027 |
| Italy | EMEA | Undisclosed | Undisclosed | 60 | 10 x V150-6.0 MW | 10-year AOM 4000 Service Agreement | Delivery planned for the second half of 2027 and commissioning scheduled for the first half of 2028 |
Kuwait Petroleum Corp is looking to buy more ships and improve its supply chains, a company executive said on Tuesday.
“In KPC, we have our own fleet, which we are managing … We are in the market to acquire more ships,” the state-owned energy major’s managing director for international marketing, Shaikh Khaled Al-Sabah told the APPEC conference.
KPC is also looking at options such as pipelines through neighbouring countries and building storage to supply its crude and products to customers amid the U.S.-Iran war, he said. KPC has three refining sites with a total capacity of 1.4 million bpd. It restarted all three crude units at its Al-Zour refining site recently following a power trip in mid-July.
New NCS map 2026
The map shows fields, transport systems and exploration and exploitation licences for CO2. The Map of the NCS also provides an overview of all production licences on the NCS, and which companies are operators.
The Argentine government reportedly announced that it will file a criminal complaint against several subsidiaries of the Israeli oil company Navitas for operating without authorisation in the Malvinas (Falkland Islands), which are administered by the United Kingdom but whose sovereignty is claimed by Argentina.
According to the Argentine presidency, the complaint will target Navitas Petroleum Development & Production Ltd, Navitas Petroleum Atlantic United, Navitas Petroleum LP, JHI Associates Inc and Eco Atlantic Oil & Gas Ltd, as well as their executives and representatives.
Argentina maintains that these companies “allegedly hold licences granted by the illegitimate government of the United Kingdom” to explore and exploit hydrocarbons in the North Malvinas Basin, in violation of Argentine law.
Iran has reportedly issued a fresh threat to the US over its newly upgraded ballistic missile, with officials warning that the nation “will take action against any threat, even before it is carried out.”
The report by Iran’s state news agency on Monday highlighted comments broadcast on state television the previous day by the head of Iran’s Supreme National Security Council, Mohsen Rezaei.
Houthi rebels have reportedly launched attacks across Saudi Arabia, injuring more than 70 people and bringing some power plants to a standstill. The rebel group launched Tuesday’s attacks hours after blaming Saudi Arabia for an air strike that hit a prison in Yemen’s northern province of Jawf, which they said killed seven people, including a child visiting the site and wounded seven others.
At least 73 people, including women and children, were wounded, said Maj Gen Turki Al-Maliki, spokesman for the Saudi-led Coalition Forces.
He described the attacks as “senseless” and accused Yemen’s Iran-backed rebels of targeting “civilian and economic sites” in the cities of Abha, Khamis Mushait, Jazan and Najran.
Arctic LNG 2 is seeking about $1 billion in damages from South Korean shipbuilder Hanwha Ocean over cancelled tanker construction contracts, according to a disclosure by Hanwha.
Arctic LNG 2, which is 60% owned by Novatek, was expected to become one of Russia’s largest LNG plants, with planned output of 19.8 million metric tons a year. But U.S. sanctions imposed over Russia’s actions in Ukraine have complicated its prospects.
Gulf producers have found alternative routes and are expected to continue sending cargoes for ship-to-ship transfers outside of Hormuz, mitigating some of the earlier shortfall.
Saudi Aramco resumed loadings from its Ras Tanura port inside the Gulf in August, although its exports from Yanbu in the Red Sea remain under pressure from a naval blockade by the Iran-aligned Yemeni Houthis. Yanbu exports hit a six-month low of 1.429 million bpd in August, from an average of 3.9 million bpd in the previous three months, provisional Kpler data showed.
Three UAE-financed solar power plants with a total installed capacity of approximately 20MW have been inaugurated in the Union of the Comoros.
The plants were financed by Abu Dhabi Fund for Development (ADFD), implemented by Abu Dhabi Future Energy Company PJSC – Masdar and managed by Global South Utilities (GSU), the organisations said.
ADFD added that it financed the project at approximately AED 84.4 million, comprising 12.86MW on Grande Comore, 4.05MW on Anjouan and 3.1MW on Mohéli.
The project also includes battery energy storage systems with a capacity of 16MWh and a power output of 8MW across Grande Comore and Anjouan, as well as approximately 30 kilometres of 20-kilovolt (kV) medium-voltage overhead transmission lines.
Saudi Arabia hit back with a series of strikes on Tuesday after the Iran-backed Houthis targeted oil facilities and other sites across the border. Houthi missiles struck Abha International Airport, King Khalid Air Base and Aramco facilities, injuring 73 and forcing temporary shutdowns at oil sites. Saudi strikes hit Taiz province, where deadly fighting has raged for days, and Marib province, the Houthis’ Almasirah TV station said.
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