Petrobras stops taking bunker orders

Fri 27 Jun 2008, 10:05 GMT

Petrobras stops taking bunker orders

Decision to suspend trading follows 24 hour surge in the price of crude oil.

Brazilian energy firm and bunker supplier Petroleo Brasileiro S.A. (Petrobras) announced yesterday, at 19hrs local time, that it had stopped confirming bunker orders.

In a statement the company said "Petrobras is informing that no orders are beying accepted or confirmed from now."

The company's decision to stop nominating bunker deals follows yesterday's surge in the price of crude oil. Light sweet crude oil for August delivery peaked at $140.39 a barrel on the New York Mercantile Exchange (NYMEX) on Thursday, up $5.09 on the previous day.

At 09:58 GMT, WTI crude was priced at $141.25 a barrel, whilst London Brent Crude had risen to $141.48 a barrel.

Following yesterday's statement, Petrobras has announced this morning at 06:46 GMT time that sales orders are now being taken again at new prices.

Petrobras Brazil


		LNG marine fuel shows up to 29% emissions reduction in new SGMF study Latest life cycle assessment shows improved methane slip control, with well-to-wake reductions of up to 25%.

		Blue Energy Partners appoints Michelle McDade as head of operations McDade brings more than eight years of bunkering experience to the Oslo-based role.

		Venture Energy signs green methanol supply deal with Shenji Energy Hong Kong-based firm to purchase ISCC EU-certified biomass-derived methanol for shipping clients.

		Changhong International begins construction on second 11,400-teu LNG dual-fuel container ship Chinese shipbuilder starts work on vessel CHB2060, second of 18-ship series for Oceanroutes.

		Keel laid for LNG bunkering vessel Celsius Turkish shipbuilder begins construction of dual-fuel bunkering vessel for Sirius Shipping and Gasum.

		Vitol’s Marine ISTA completes record 4,900 mt bunkering operation at Karachi Port Operation marks largest fuel supply at Pakistani port, highlighting potential for regional bunkering hub development.

		Gasum and Wasaline extend bio-LNG supply agreement to 2027 Nordic energy company renews fuel supply contract with Finnish-Swedish ferry operator through 2027.

		MOL Techno-Trade completes Japan’s first truck-to-ship LNG bunkering for foreign cruise vessel Ritz-Carlton cruise ship Luminara refuelled at Nagasaki Port using truck-to-ship method on 3 April.

		Methanol-ready cable-laying vessel hull launched in Romania Shipbuilder floats hull of dual-fuel vessel designed for offshore renewable energy cable operations.

		GCMD biofuels lead receives Singapore standardisation award Dr Prapisala Thepsithar recognised for contributions to marine biofuel specification development.