The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations…
Short-term sales of crude oil and liquefied natural gas into China almost ground to a halt this week as the coronavirus slows economic activity and cuts demand and buyers ponder legal action to avoid having to honor purchase agreements, trade sources said…
The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington…
U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure additions.The infrastructure boom at Corpus Christi…
The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil.The waiver, good until Feb…
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets…
The European Investment Bank (EIB), the EU's financing department, will bar funding for most fossil fuel projects to become the world’s first ‘“climate bank”.The bank will end its financing of oil, gas, and coal projects after 2021, and will accelerate clean energy innovation…
India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast of India and investment in retail sector in petroleum…
China's PetroChina International Co Ltd shipped a cargo of 92 octane gasoline to India, marking the company's first direct refined oil shipment to the country, its parent company China National Petroleum Corp (CNPC) said in a statement on Tuesday…
The owner and operator of very large crude carriers Bahri announced strong financial results for the third quarter ended September 30, 2019, on the back of solid growth in the logistics services sector.The National Shipping Company of Saudi Arabia said that its net profits soared 80…
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…
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…
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…
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…
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…
