Page 11 - FSUOGM Week 21 2022

FSUOGM PIPELINES & TRANSPORT FSUOGM

Sovcomflot owns the largest mid-sized tanker fleet in the world (Photo: Sovcomflot)
Since the beginning of May, however, Russian Gazprom Neft, was using SCF tankers to load
oil companies have increased their bookings cargoes of ESPO crude in May. It noted that one
of SCF tankers. Two state-owned companies – of the state-owned company’s vessels, the Sakha-
Rosneft, the country’s largest oil producer, and lin Island, had taken on a load of ESPO crude
Gazprom, its main natural gas producer – have on May 14 and departed for the Chinese port
arranged to use the company’s ships to load and of Longkou.
deliver crude oil from various locations in Rus- As of last week, SCF had not commented on
sia to customers in Asia, Bloomberg said. reports of the increased bookings, Bloomberg
Sources with knowledge of the matter told said.
the news agency that Rosneft has been using The Russian shipping company’s fleet con-
SCF tankers to deliver Urals Blend crude to des- sists mostly of Suezmax and Aframax tankers
tinations along India’s west coast, where Reli- that are more suited to shorter trips between
ance Industries Ltd (RIL) and Nayara Energy Russia and Europe than the long-haul trips from
operate refineries. Some of these cargoes were Russia to Asia.
originally destined to go to other markets but Even so, Bloomberg noted, Russian oil com-
were redirected after the imposition of sanc- panies are keen to keep barrels moving to cus-
tions, the sources said. tomers, despite the greater expense of doing so
Nine SCF tankers have brought or are bring- on smaller ships.
ing Russian oil to India since late February, SCF began attempting to sell off part of its
Bloomberg added. fleet earlier this month in order to pay off debts.
The news agency also quoted shipbrok- According to press reports, it was looking to
ing sources as saying that Gazprom’s oil arm, unload 40 tankers from its fleet of 121. ™

INVESTMENT
Swiss oil pump maker Sulzer exits Russia

SULZER, a Swiss engineering group that spe- potential buyers.
cialises in fluid engineering technologies, The Swiss firm did not specify the reasons for
announced on May 24 that it was exiting Russia its decision to exit Russia. However, it signalled
“with immediate effect,” pulling out of the coun- that its impending departure was linked to the
try and selling its assets there. invasion of Ukraine, noting that the move “fol-
In a statement, the company, which sells, lows Sulzer’s announcement earlier in the year
manufactures and services pumps, machine that it had already significantly reduced business
tools and other equipment used in the petro- activities in Russia.”
leum, petrochemical and pulp and paper indus- It also commented that the company’s board
tries, explained that its board of directors had of directors “regrets this decision after decades
made the decision to halt all business operations of operation in Russia.” Nevertheless, it says,
in Russia. board members have concluded after reviewing
Sulzer said it intended to sell its Russian the available options that withdrawal is the best
assets as soon as possible but did not name any solution.

Week 21 25•May•2022 www. NEWSBASE .com P11