+
Oil shipments at risk from rising sea levels
OIL & GAS

Oil shipments at risk from rising sea levels

A dire warning was issued by researchers, cautioning that rising sea levels pose a grave threat to crude oil shipments and energy security, particularly in import-dependent nations like China, South Korea, and Japan. The China Water Risk (CWR) think tank highlighted the potential for significant disruptions in global oil trade due to the sinking of key oil ports and inundation of coastal refineries and petrochemical facilities, driven by melting ice and swelling seas from escalating temperatures.

According to the CWR report, the maritime infrastructure critical for exporting and importing crude oil faces considerable vulnerability, especially low-lying ports and bunkering facilities. Stress tests conducted by CWR indicated that approximately 12 out of the top 15 tanker terminals worldwide could be impacted by a one-meter rise in sea levels, with five located in Asia. This scenario puts a significant portion of global crude oil exports from major producers like Saudi Arabia, Russia, the United States, and the United Arab Emirates at risk, affecting key importers such as China, the United States, South Korea, and the Netherlands.

With Asian countries expected to bear the brunt of these consequences, the report underscores the urgent need for a transition away from oil dependence and the enhancement of port infrastructure resilience. Debra Tan, Director of CWR and lead author of the report, emphasised the importance of seizing investment opportunities to address infrastructure risks and mitigate the detrimental impacts of oil reliance on future prospects.

Japan and South Korea, both heavily reliant on crude oil imports, face significant vulnerabilities as a large portion of their ports could be affected by a one-meter rise in sea levels. Moreover, the continued growth in oil output, contributing to climate-warming emissions, poses a paradoxical threat to the energy security of multiple Asian countries, particularly Japan and South Korea.

The report further warns that failure to limit temperature rises within the critical threshold of 1.5 degrees Celsius could result in even more severe consequences, with sea-level rise potentially reaching three meters and posing an existential threat to port infrastructure across Asia. Ultimately, the report underscores the paradoxical risk posed by oil, traditionally seen as a pillar of energy security, which could ironically jeopardize the energy security of numerous nations. (Source: Economic Times)

A dire warning was issued by researchers, cautioning that rising sea levels pose a grave threat to crude oil shipments and energy security, particularly in import-dependent nations like China, South Korea, and Japan. The China Water Risk (CWR) think tank highlighted the potential for significant disruptions in global oil trade due to the sinking of key oil ports and inundation of coastal refineries and petrochemical facilities, driven by melting ice and swelling seas from escalating temperatures. According to the CWR report, the maritime infrastructure critical for exporting and importing crude oil faces considerable vulnerability, especially low-lying ports and bunkering facilities. Stress tests conducted by CWR indicated that approximately 12 out of the top 15 tanker terminals worldwide could be impacted by a one-meter rise in sea levels, with five located in Asia. This scenario puts a significant portion of global crude oil exports from major producers like Saudi Arabia, Russia, the United States, and the United Arab Emirates at risk, affecting key importers such as China, the United States, South Korea, and the Netherlands. With Asian countries expected to bear the brunt of these consequences, the report underscores the urgent need for a transition away from oil dependence and the enhancement of port infrastructure resilience. Debra Tan, Director of CWR and lead author of the report, emphasised the importance of seizing investment opportunities to address infrastructure risks and mitigate the detrimental impacts of oil reliance on future prospects. Japan and South Korea, both heavily reliant on crude oil imports, face significant vulnerabilities as a large portion of their ports could be affected by a one-meter rise in sea levels. Moreover, the continued growth in oil output, contributing to climate-warming emissions, poses a paradoxical threat to the energy security of multiple Asian countries, particularly Japan and South Korea. The report further warns that failure to limit temperature rises within the critical threshold of 1.5 degrees Celsius could result in even more severe consequences, with sea-level rise potentially reaching three meters and posing an existential threat to port infrastructure across Asia. Ultimately, the report underscores the paradoxical risk posed by oil, traditionally seen as a pillar of energy security, which could ironically jeopardize the energy security of numerous nations. (Source: Economic Times)

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?