Oil traders jump into action as Europe screams for diesel
Bookings to fill oil tankers with refined fuels -- mostly diesel, gasoil and jet fuel -- and sail them from East to West have soared.
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Bookings to fill oil tankers with refined fuels -- mostly diesel, gasoil and jet fuel -- and sail them from East to West have soared.
Traders are snapping up ships to haul millions of barrels of diesel westward from Asia and the Middle East as oil supply chains react to Russia’s invasion of Ukraine.
The Makhanda High Court dismissed an urgent application to stop petroleum giant, Shell from conducting a seismic survey in the region.
Four organisations, including environmental groups, have filed an urgent court bid to slam the brakes on oil and gas company, Shell, carrying out these tests, citing irreparable harm to the marine environment.
During the seismic survey, which was meant to start on Wednesday, a vessel will discharge pressurised air that generates sound waves directed towards the seabed for the exploration of petroleum resources.