Occidental Petroleum Corp provisionally chartered a supertanker to ship U.S. crude to South Korea for a new record of $13.25 million in November, three shipping sources familiar with the matter said on Monday.The Very Large Crude Carrier (VLCC)…
Oil prices rose today (Monday, September 30) after China’s factories unexpectedly increased production over the past month, easing concerns about demand amid the ongoing trade war with the U.S. Brent crude futures rose 9 cents to $62 a barrel by 0300 GMT and U…
Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department…
The U.S. Federal Energy Regulatory Commission (FERC) has issued the order granting authorization for siting and constructing of the proposed on-water Jacksonville liquefied natural gas (LNG) Export Facility, developer Eagle LNG Partners LLC announced…
The maritime classification society Lloyd’s Register has been brought in to coordinate REShiP (Renewable Energy Ship Propulsion) project to research and develop renewable energy ship propulsion technologies.REShiP started in April 2019 with…
Korea Midland Power (KOMIPO) has signed a memorandum of understanding (MOU) on business development and cooperation in the fields of liquefied natural gas (LNG) and renewable energy with global energy company Petronas of Malaysia, the state…
MAN Energy Solutions has joined a new climate grouping, dedicated to developing zero-emission vessels by 2030 in connection with the UN Climate Action Summit.The ‘Getting to Zero Coalition’ is a partnership between the Global Maritime Forum…
The US is expected to drive new-build gas processing capacity growth in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 24% of global gas processing capacity growth by 2023…
State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B…
Colombia´s LNG Import Terminal Sociedad Portuaria El Cayao (SPEC LNG) has signed a joint development agreement with Calamari LNG, Avenir LNG and Höegh LNG on providing additional LNG services at the Cartagena import facility.The additional services…
Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had…
The global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033, says DNV GL.Gas demand will then plateau, and the fuel will remain dominant until the end of the forecast period in 2050, when it will account for over 29% of the world’s energy supply…
Bermuda-based ship-owning and ship chartering firm Ship Finance International Limited (SFL) has agreed to purchase three very large crude carriers (VLCCs) from Norwegian investment company Hunter Group. The 300,000 dwt oil tankers are currently…
Japan’s third-largest oil refining company, Cosmo Oil, , has started building stocks of very-low-sulfur fuel oil (VLSFO) for supply to domestic marine fuel markets from next month (October 2019) ahead of the IMO 2020 mandate requiring ships globally to reduce their bunker fuel sulfur content to 0…
Russian oil and gas company Gazprom Neft has announced that a working meeting has been held between Alexey Miller, Chairman of the Gazprom Management Committee, and Hee-Bong Chae, President and Chief Executive of KOGAS.The meeting participants…
