US President Trump’s announcement earlier today (17 April) that the Strait of Hormuz is ‘fully open’ is inaccurate, and shipping should consider avoiding the area, says Jakob Larsen, BIMCO Chief Safety & Security Officer. As previously reported by ship.energy, in a post on X, Iran’s Foreign Minister Abbas Araqchi said that restrictions on commercial vessels passing through the Strait of Hormuz have been lifted for the duration of the 10-day ceasefire between Israel and Lebanon which took effect yesterday (16 April). President Trump subsequently posted on Truth Social that: ‘The Strait of Hormuz is completely open and ready for business […]

Iran’s Foreign Minister Abbas Araqchi has said that restrictions on commercial vessels passing through the Strait of Hormuz have been lifted for the period of the ceasefire between Israel and Lebanon, which took effect yesterday (16 April), while US President Trump has emphasised that the US naval blockade against Iranian ports will remain, ‘until such time as our transaction with Iran is 100% complete.’ Iran’s Foreign Minister made the announcement via X, noting that open passage through the Strait for vessels will be on ‘the co-ordinated route as already announced by the Ports and Maritime Organisation of the Islamic Republic […]

Spain-headquartered Repsol has signed an agreement with the Venezuelan government and the state-owned company Petróleos de Venezuela (PDVSA) to reassume operational control at the Petroquiriquire oil asset and increase its oil production in the country, The Petroquiriquire asset is jointly owned by PDVSA (60%) and Repsol (40%). In a statement issued yesterday (16 April), Repsol said that the agreement was ‘subject to conditions being met’. Repsol has been operating in Venezuela through a Framework Agreement that was originally signed in 2023 and subsequently amended in 2024. Commenting on the new agreement to expand its activities, Repsol’s Executive Managing Director of Exploration […]