Oil Traders Begin Slow Work of Cleaning Tainted Russian Cargoes

By Sherry Su and Serene Cheong (Bloomberg) -- Oil traders are starting the slow process of cleaning up cargoes of Russian crude that were loaded onto tankers at a port in the Baltic Sea during a contamination crisis. Doing so will involve cargo transfers on the high seas, shipping barrels thousands of miles, and -- finally -- careful dilution to avoid damaging oil … [Read more...]

Russia Dirty Oil Crisis Drags On as Port Loads Tainted Cargo

By Sherry Su and Javier Blas (Bloomberg) -- Russia’s efforts to resolve an unprecedented oil-contamination crisis suffered a setback as the nation loaded another tainted cargo from a port in the Baltic Sea, days after the government had said the port was clear. Traders receiving Urals crude at the Ust-Luga terminal said some oil continues to exceed acceptable … [Read more...]