Search results for: Strategic Petroleum Reserve

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  • 11 March 2020

    Australia and the US sign a milestone arrangement to bolster Australia’s access to emergency oil supplies.

  • 20 July 2010

    China has recruited a flotilla of 500 fishing boats to help clean up an oil slick that shut one of its biggest ports, Dalian, disrupting refinery operations and diverting cargoes elsewhere, but officials said the port would not return to normal until the end of the week. A pipeline explosion and fire hit the Xingang […]

  • 15 April 2016
    Business & Finance

    U.S. Senator Chris Murphy yesterday applauded committee passage of the Energy and Water Development Appropriations bill. Murphy secured $500,000 in the bill to conduct a feasibility study to deepen New Haven Harbor – Connecticut’s largest deep water commercial industrial port that is essential to the state’s economy. “Commercial ports and manufacturing businesses are bedrocks of Connecticut’s […]

  • 4 December 2014

    Venture Global named former Deputy Secretary of Energy Daniel B. Poneman to its Board of Directors.

  • 13 May 2016
    Business & Finance

    U.S. Senator Chris Murphy, a member of the U.S. Senate Appropriations Committee, yesterday applauded Senate passage of the Energy and Water Development Appropriations bill. During the Appropriations Committee markup of the bill, Murphy secured $500,000 in the bill to conduct a feasibility study to deepen New Haven Harbor – Connecticut’s largest deep water commercial industrial […]

  • 8 December 2015

    Crude prices edged away from nearly 7-year lows on Tuesday as China reported strong commodity imports despite economic weakness, but overall the market remained under pressure due to global oversupply compounded by OPEC’s decision to keep output high.

  • 20 July 2011

    Congressman Jon Runyan voted to support H.R. 2354, the fiscal year 2012 Energy and Water Development Appropriations Bill, which among other things, restores the funding level for the Army Corps of Engineers Flood Control and Coastal Emergencies (FCCE) account to $27 million for fiscal year 2012. In April, Runyan submitted testimony to the House Appropriations […]

  • 4 January 2019

    China surpassed the US in annual gross crude oil imports in 2017, according to EIA.

  • 23 February 2015

    The Chinese business model for the shipping industry has seen a slight diversification over the recent period as the country’s new premier backs private commercial initiatives. This is particularly evident as the gradual relaxation of state control in some areas paves way for Very Large Crude Carries (VLCCs) being fixed out in the international market, shipbroking […]

  • 21 August 2017
    Business & Finance

    China has risen as the world’s largest importer of crude oil, moving ahead of the United States, according to data provided by Gibson Shipbrokers. Namely, China reached an average of 8.55 million b/d of crude oil imports in the first half of 2017 compared with 8.12 million b/d imported by the United States. The ship broking company said that […]

  • 25 May 2012

    The American Maritime Partnership, on May 23, praised the Senate Appropriations Committee for approving legislation directing the federal government to “take adequate measures to ensure the use of United States flag vessels” during any future Strategic Petroleum Reserve (SPR) draw down. The Committee, which funds all federal departments and agencies, also approved a report describing […]

  • 5 August 2008

    Barack Obama reversed his position over petrol prices yesterday in the face of polls showing it has emerged as the dominant issue of the presidential election. The Democratic candidate said he would dip into the US strategic oil reserves to try to drive down prices, a policy he had previously opposed. He also confirmed that, […]

  • 12 February 2018
    Business & Finance

    A consortium led by India’s ONGC has been awarded a 10% interest in Abu Dhabi’s offshore Lower Zakum concession.

  • 16 October 2018

    ADNOC is looking to deepen energy partnership opportunities with India. 

  • 23 May 2017

    By Alex Lawler and Rania El Gamal VIENNA (Reuters) – OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. OPEC’s de facto leader, Saudi Arabia, favours extending the output curbs […]

  • 16 September 2019

    Oil prices on Monday saw the biggest surge since 1991 following a drone attack on the state-owned Saudi Aramco’s oil processing facility in Saudi Arabia, according to Reuters.

  • 13 April 2020
    Business & Finance, Business developments & projects, Exploration & Production, Market outlooks, Outlook & strategy

    After four days of negotiations OPEC, Russia, and allies have agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic.

  • 21 February 2014

    Santos said on Friday that the company’s proved plus probable (2P) petroleum reserves were 1,368 million barrels of oil equivalent (mmboe) as at the end of 2013. This represents an organic three-year 2P reserves replacement ratio of 159% and provides a reserves life of 27 years based on 2013 production of 51 mmboe. While the […]

  • 1 November 2012

    80 billion dollars will be invested in development and completion of South Pars gas field phases, deputy minister of petroleum for planning and supervision on hydrocarbon resources said. Speaking during a visit to Assaluyeh, onshore installation of South Pars gas field, Mohsen Khojasteh-Mehr told Shana that the largest economic and industrial infrastructures of the county […]

  • 29 August 2017

    Over the past four months owners have been busy ordering new tankers, keeping the crude oil tanker fleet expansion on course for a six-year-high, measured in DWT, BIMCO said. However, the fleet growth percentage is down from last years’ 5.9%, to 4.7% for the full year of 2017. The order book included 14 LR2 and 14 […]

  • 4 April 2018
    Business & Finance

    Norwegian oil and gas operator DNO ASA has agreed to acquire a 15.37 percent of the share capital of Faroe Petroleum from Israeli Delek Group.

  • 18 October 2013

    Rosneft President and Chairman of the Management Board Igor Sechin and Chairman of the China National Petroleum Corporation Zhou Jiping have signed a Memorandum to expand cooperation in upstream projects in East Siberia. The Memorandum describes a joint venture for upstream developments in East Siberia with Rosneft holding 51% and CNPC – the remaining 49%. […]