Oil News

 

BIMCO: US Seaborne Crude Oil Exports Hit Record High

Apr 09, 2019

US exports of crude oil have, since August 2018, continued to rise every month, with a new record high in January of 9.6 million tonnes. Exports rose in January on the back of increased sales to Europe, which rose from 2.7 million tonnes in December to 4…

Oil, Gas Majors Join Blockchain Consortium

Feb 27, 2019

A group of seven major oil and gas companies, including ExxonMobil Corp., Chevron Corp. and ConocoPhillips, announced a partnership to establish the first industry blockchain consortium in the United States.With several use cases across the industry value chain…

Ecoslops and Suez Canal Economic Zone Ink Second Agreement

Jan 30, 2019

Ecoslops, the producer of recycled marine fuels from oil residues, and Suez Canal Economic Zone signed a new agreement, further to the signature of an agreement for a detailed feasibility study in January 2018.A press release said that the firms…

Turkmen Oil Exports via Russia’s Novorossiisk Port to Resume

Jan 22, 2019

Exports of Turkmen oil via Russia's Black sea port of Novorossiisk will resume in February, four market sources said.Turkmenistan stopped transit of its oil via Russia in 2016 and has been exporting all its crude via the Azeri Caspian port of Baku…

AsiaPac Oil and Gas Industry Looks Up

Jan 21, 2019

Confidence in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL, the technical advisor to the oil and gas industry.According to a new research from DNV GL…

Norway Postpones Decision on Arctic Oil Terminal

Dec 14, 2018

The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe until the third quarter of next year, it said on Friday.If built, the onshore Veidnes…

The Tipping Point: U.S. Exports more Oil than it Imports

Dec 06, 2018

The United States last week exported more crude oil and fuel than it imported for the first time on record, underscoring the nation's growing influence as a supplier of oil to the world.Exports of crude surged in the week to Nov. 30 to more than 3…

Equinor, Faroe Petroleum in Asset Swap

Dec 05, 2018

Britain's Faroe Petroleum has agreed to swap oil and gas fields with Norwegian state firm Equinor as it fights a hostile takeover from Norwegian oil and gas operator DNO.It appears that Faroe in fight-back mode after DNO’s so-called ‘opportunistic’ bid…

IOC: 5-year Tender on Scrubber-fitted Tankers

Dec 04, 2018

Indian Oil Corp (IOC) issued a global tender to charter scrubber-fitted oil tankers for at least five years to import Iraqi oil, a tender document seen by Reuters showed.The tender says Indian shippers will be given first right of refusal for…

TEN: Cautious Optimism on Shipping Market

Dec 02, 2018

The provider of seaborne crude oil and petroleum product transportation services Tsakos Energy Navigation Limited (TEN) said that though the tanker market showed upward trajectory, management will keep a close eye on developments and refine its employment approach…

Bomin Sells Belgium Bunker Ops

Nov 21, 2018

Bomin Group, a supplier of marine fuels, has agreed to sell its Belgium operations to certain individuals of the Somers family, controlling the tanker shipping company Somtrans.Bomin announced in September 2018 that it was exiting the bunker market in Antwerp…

CPC Marine Terminal Loads 500 MT of Kazakh Oil

Nov 21, 2018

Half a billion tones of oil delivered by Kazakhstani Shippers to the Tengiz-Novorossiysk crude pipeline since the commencement of operation of CPC pipeline system was lifted from the Marine Terminal of Caspian Pipeline Consortium on November 17…

Sture oil export terminal operates as normal

Nov 13, 2018

Norway's Sture oil export terminal was operating as normal on Tuesday despite the nearby sinking of a shipwrecked navy vessel, operator Equinor said.The terminal was shut for several hours last Thursday after the Norwegian frigate collided with an oil tanker near the terminal…

Norwegian Oil, Gas Plants Restart after Ship Collision

Nov 08, 2018

An oil tanker and a Norwegian navy frigate collided off Norway's west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway's top gas processing plant and several offshore fields…

BREAKING: Tanker, Frigate Collision Shuts Down Norwegian Oil, Gas to Europe

Nov 08, 2018

Norway has been forced to close the Sture Oil Terminal near Bergen and has started closing down the nearby Kollsness gas-and-condensate terminal — a lifeline of heating gas to Europe — after an early morning collision between a $440-million frigate and an oil tanker…

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ClassNK, StormGeo Team on Maritime Decarbonization

ClassNK, StormGeo Team on Maritime Decarbonization

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