AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
International Seaways Inc Secures Credit Facility with DNB Bank ASA
ByAinvest
Tuesday, Aug 26, 2025 4:26 pm ET1min read
International Seaways Inc. has entered into a credit agreement with DNB Bank ASA. The tanker company provides energy transportation services for crude oil and petroleum products internationally. Its fleet includes 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 13 LR1s, and 38 MR tankers. The agreement will support the company's operations and financial stability.
Chinese state-controlled oil company PetroChina reported a 5.4% decrease in first-half earnings, primarily due to lower prices of crude oil and refined oil products, as well as changes in sales volume for oil-and-gas products. The company's net profit for the period was 84.01 billion yuan, down from a record 88.81 billion yuan a year earlier [1].Revenue for PetroChina fell by 6.7% to 1.450 trillion yuan. The average realized price for crude oil dropped by 14.5% to $66.21 per barrel. Sales of crude-oil products rose by 6.0%, but those for gasoline and diesel fell by 5.0% and 2.4%, respectively. In the new-energy business, energy output from wind and solar power plants jumped by 70% [1].
For the second half of the year, PetroChina expects the supply-demand balance in the international crude oil market to remain loose, and prices to face downside pressure. The domestic refined oil products market will continue to face competition from alternative energy, and the demand of the natural gas market is expected to recover to relatively rapid growth [1].
Last week, Sinopec, the country's biggest oil refiner, reported a 40% drop in first-half net profit as revenue fell by 11% amid lower oil prices. Declining diesel demand due to the growth of electric-vehicle adoption also weighed on its results [1].
International Seaways Inc., a tanker company providing energy transportation services for crude oil and petroleum products internationally, has entered into a credit agreement with DNB Bank ASA. The agreement will support the company's operations and financial stability. The tanker company's fleet includes 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 13 LR1s, and 38 MR tankers [2].
References:
[1] https://www.marketscreener.com/news/petrochina-s-first-half-profit-fell-from-record-on-lower-oil-product-prices-ce7c50d9d98cf42c
[2] https://www.internationalseaways.com/news/credit-agreement-with-dnb-bank-asa/
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet