Oil News

 

Tankers Unable to Offload in Malaysian Port

Oct 22, 2019

Refineries at Port Dickson on Peninsular Malaysia's west coast are unable to receive crude oil after a port facility that carries crude from the ships to the plants broke down.A system known as a single point mooring (SPM) unit, a loading buoy…

Nakilat Posts 10.5% Surge in 9 Month's Net Profit

Oct 20, 2019

Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world…

Tanker Deliveries Up 37%: BIMCO

Oct 16, 2019

Delivered tonnage of crude oil tankers have grown by +37%, whereas total fleet demolitions for 2019 have slumped to the lowest in a decade with a reduction of 52% from the year before, says BIMCO, the largest of the international shipping associations representing shipowners…

Iranian Tanker Hit by Missiles, Oil Rises

Oct 11, 2019

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…

Chevron Sets New Goals for Greenhouse Gas Reduction

Oct 03, 2019

American multinational energy giant Chevron Corporation unveils new goals to reduce oil production-related greenhouse gas (GHG) emissions by 5% to 10% over a seven-year period ending 2023 as part of an ongoing effort to combat global climate change…

Oil Prices: Chinese Data Eases Concerns

Sep 30, 2019

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…

Vitol, ENH Form LNG Trading JV

Sep 20, 2019

Commodity trading company Vitol and the Mozambican state-owned oil and gas company ENH have formed ENH Energy Trading, a partnership focused on trading oil products.The Dutch energy and commodity trading company said in a press note that ENH…

Aramco Rapidly Restores Production Capacity

Sep 18, 2019

Saudi Arabia's oil and gas giant Saudi Aramco announced that it will fully restore its production capacity by the end of September, in light of the Saturday's drone attacks that caused disruptions on around half of the country's oil capacity…

Aramco Suspends 50% of Production

Sep 15, 2019

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…

Natural Gas to be 29% of World’s Energy Supply by 2050

Sep 10, 2019

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…

GeoLOGIC Acquires TOP Analysis

Aug 26, 2019

Canada's geoLOGIC systems announced that it has purchased TOP Analysis, a provider of Canadian thermal oilsands critical information & competitive intelligence through  an easy to use SaaS platform available to all disciplines.'TOP Analysis…

Saudi Aramco, World’s Most Profitable Co, Again

Aug 15, 2019

Saudi Aramco announced that its net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year.  That easily outstripped corporate titans such as Apple Inc, Amazon.com Inc and other big oil producers…

DHT and Heidmar Halt New Bookings to Mid-East Gulf

Jun 13, 2019

Oil tanker owners DHT Holdings and Heidmar have suspended new bookings to the Mid-East Gulf, three ship brokers said, following suspected attacks on two oil tankers in the Gulf of Oman on Thursday.DHT has a large fleet of Very Large Crude Carriers (VLCCs) and Heidmar has a wide range of oil tankers…

Two Tankers Attacked in Gulf of Oman

Jun 13, 2019

Two oil tankers were attacked in the Gulf of Oman on Thursday, leaving one ablaze and both adrift, shipping firms said, driving oil prices as much as 4% higher over worries about Middle East supplies.The Front Altair, carrying petrochemical feedstock…

Volatility Hits Tanker Market: Concordia

Apr 26, 2019

The tanker shipping market continued to be volatile during the first quarter of 2019, but at a higher level than in the corresponding quarter the previous year, said Concordia Maritime.After the sharp rise at the end of 2018, some tanker market segments have now slowed down again…

Logistics News

Prysmian Cements Partnership with Port of Middlesbrough with New Long-Term Deal

Prysmian Cements Partnership with Port of Middlesbrough with New Long-Term Deal

Five Inducted into the International Maritime Hall of Fame in NYC

Five Inducted into the International Maritime Hall of Fame in NYC

Over $77 Million in Projects Underway at Lake Michigan Port

Over $77 Million in Projects Underway at Lake Michigan Port

Women in Maritime Day: Shaping the Future of Maritime Safety

Women in Maritime Day: Shaping the Future of Maritime Safety

Subscribe for Maritime Logistics Professional E‑News