Gulfstream” refloated in Trinidad and Tobago after oil spill

The oil tanker "Gulfstream", involved in a massive fuel oil spill off Tobago, has been refloated after six months of delicate operations. An international investigation is underway to identify those responsible.

Partagez:

The oil tanker “Gulfstream”, which capsized six months ago near the Cove eco-industrial park, has been refloated by the Trinidad and Tobago authorities.
The shipwreck caused an oil spill, with 50,000 barrels of fuel oil spilling over an area 15 km off the coast.
The operation, led by the Ministry of Energy, secured the vessel at a depth of 60 meters, assisted by tugs.
Initially loaded with 85,000 barrels of fuel oil, the “Gulfstream” sank while being towed by the barge “Solo Creed”, whose beacon was deactivated shortly after the incident, making the salvage process complex.
The authorities acted swiftly to prevent further contamination, although the environmental impact was already considerable.

International survey: owner search

The Trinidad and Tobago authorities are continuing their investigations to identify the owners of the “Gulfstream”, a vessel without a clearly identified flag.
The Minister of Energy, Stuart Young, has requested the assistance of several countries, including Tanzania, Nigeria, Panama, Aruba and Curacao, to help track down those responsible for the vessel and tug.
The absence of distress signals and the deactivation of the vessel’s tracking systems further complicate the investigation.
The cost of cleaning up the oil spill is estimated at $30 million, an amount that could be passed on to the owners once identified.
The ongoing investigation highlights the challenges of dealing with incidents involving unidentified vessels, accentuating the need for enhanced international cooperation.

Impact on maritime regulations

The “Gulfstream” incident could act as a catalyst for revisions to maritime safety standards, particularly with regard to the towing of oil-carrying vessels.
The opacity surrounding the identity of the vessel and the actions of its crew raises serious questions about the effectiveness of current protocols.
International discussions could be initiated to improve monitoring and rapid response systems, thereby minimizing future risks.
Efforts are now focused on the safe transfer of the “Gulfstream” to Port of Spain for a more detailed inspection.
At the same time, the authorities are working on the rehabilitation of the affected areas, a complex task requiring advanced technical expertise.
The incident serves as a reminder of the dangers inherent in the maritime transport of oil, and underlines the importance of rigorous application of safety standards.

Faced with recurrent shortages, Zambia is reorganising its fuel supply chain, notably issuing licences for operating new tanker trucks and service stations to enhance national energy security and reduce external dependence.
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
Mexco Energy Corporation reports an annual net profit of $1.71mn, up 27%, driven by increased hydrocarbon production despite persistently weak natural gas prices in the Permian Basin.
S&P Global Ratings lowers Ecopetrol's global rating to BB following Colombia's sovereign downgrade, while Moody’s Investors Service confirms the group's Ba1 rating with a stable outlook.
Shell group publicly clarifies it is neither considering discussions nor approaches for a potential takeover of its British rival BP, putting an end to recent media speculation about a possible merger between the two oil giants.
The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.
Petro-Victory Energy Corp. starts drilling of the AND-5 well in the Potiguar Basin, Brazil, as the first phase of an operation financed through its strategic partnership with Azevedo & Travassos Energia.
The Texan Port of Corpus Christi has completed major widening and deepening work designed to accommodate more supertankers, thus strengthening its strategic position in the US market for crude oil and liquefied natural gas exports.
BP Prudhoe Bay Royalty Trust is offering its interest in Prudhoe Bay, North America’s largest oil field, as part of its planned dissolution, assisted by RedOaks Energy Advisors for this strategic asset transaction.
CNOOC Limited’s Hong Kong subsidiary and KazMunayGas have concluded a nine-year exploration and production contract covering nine hundred and fifty-eight square kilometres in Kazakhstan, sharing investment and operations equally.
Donald Trump announced that the United States will no longer oppose Chinese purchases of Iranian oil, immediately triggering a drop in global crude oil prices and profoundly reshaping international energy trade partnerships.
Research firm S&P Global Commodity Insights lifts its outlook for the fourth straight year, betting on three point five mn barrels per day from 2025 despite lower prices.
Enbridge plans to expand its infrastructure to increase oil transportation from the American Midwest to the Gulf Coast, anticipating rising exports and addressing current market logistical constraints.
US commercial crude inventories significantly decline by 3.1 million barrels, widely surpassing initial forecasts and immediately pushing international oil prices higher.
The UK could have hydrocarbon reserves twice as large as current official estimates, according to Offshore Energies UK, highlighting the impact of fiscal policies on forecasts and the economic future of the North Sea.
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.
Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
Donald Trump urges control of oil prices following U.S. military action against Iranian nuclear facilities, amid escalating tensions around the strategic Strait of Hormuz, threatening to significantly impact global markets.
PermRock Royalty Trust announces a monthly distribution of $539,693 to unit holders, impacted by reduced oil volumes and prices in April, partly offset by increased natural gas sales.