Exxon Mobil and Shell are avoiding hiring oil tankers that previously carried cargo from Russia aiming to pressure owners to choose whether to serve Moscow’s interests or not.
that oil exports of Russian ESPO-grade oil from the Pacific port of Kozmino had collapsed by more than 50% following the implementation of the western oil price cap.all of Russia’s seaborne crude shipments collapsed in the first full week of G-7 sanctions targeting Moscow’s petroleum revenues,
Combining everything, the first full week after the EU ban on seaborne Russian crude imports came into effect,. A less volatile four-week average also plunged, setting a new low for the year. Baltic Sea volumes should recover with work now ended, but the issues in the East may take longer to solve. putting itself in the same camp as Shell Plc with a move that pressures owners to choose whether to serve Moscow’s interests or not.
a clause seen by Bloomberg shows. Failure to do so would allow Exxon to terminate the charter. The approach is similar to that of Shell, whose first preference is for ships that haven’t carried Russian crude in their last three cargoes.
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