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By Dmitry Zhdannikov LONDON (Reuters) – Oil futures edged down on Friday to below $40 per barrel, with the market growing increasingly sceptical that a looming deal to freeze crude production can help clear a global glut. Brent crude for June delivery <LCOc1> fell 64 cents to $39.69 a barrel as of 1
Bahrain’s Nogaholding reportedly agreed a five-year US$570 million Islamic financing facility for oil and gas projects in the country.
As the pains of the dry bulk market protract into this year as well owners feel propelled to delay deliveries of their fleet additions as they struggle to find decent rates for the existing fleet units. This is particularly hurting Capesize owners who have pushed half of their Capesize newbuildings
A Panamanian-flagged general ship anchored at the Port of Haifa has been fined NIS 6,000 (approximately USD 1,580) after its wastewater sanitation system discharged effluents into the sea, Israel’s Ministry of Environmental Protection said. The Marine Environment Protection Division of the Ministry
The government of Israel has indicted six people for their involvement in a corruption case tied to one of the country’s two main cargo ports, the port of Ashdod, according to Israeli newspaper Haaretz. Among the people charged for bribery, extortion and money laundering in the period from 2010 to 2
Noble Energy, a U.S.-based oil and gas company, has said that the development of the Leviathan gas find in the Mediterranean Sea could risk further delays after the Supreme Court of the State of Israel’s ruling that blocked a crucial provision of the plan to develop the field. Namely, Noble Energy w
Israel’s Supreme Court recently affirmed the government’s natural gas regulatory framework with Noble Energy and Delek Group regarding the development of the Leviathan gas field with certain conditions.
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Energy (oil & gas) and natural resource companies made up 33% of downgrades, excluding sovereign related, during 2015, according to Fitch Ratings. Persistently weak oil prices have continued to lead to capex reductions or delays and have been a primary driver for weakened investment and sub-investme
Overall confidence levels in the shipping industry fell to a record low in the three months to February 2016, according to the latest Shipping Confidence Survey from shipping adviser Moore Stephens. The average confidence level expressed by respondents in the markets in which they operate was 5.0 on
Searcher Seismic, an independent multi-client company providing seismic datasets and associated products to the oil & gas industry, has through its Seisintel product range provided a snapshot of global seismic activity in March. Seisintel, launched in August 2015, uses S-Automatic Identification Sys
With 12 weeks of 2016 now over, the dry bulk market is still looking bleak, BIMCO says, seeing that the current low demand for transportation of commodities continues. The market is doing what it can by scrapping old ships and restraining from ordering new ones despite 12-year low newbuilding prices
Conflicts and tensions in the Middle East, Far East and North and sub-Saharan Africa pose a real threat to the maritime environment and some of the world’s most important shipping lanes, maritime security company MAST warns. “Concern over the decision to reduce the High Risk Area (HRA) in the wester
