Bahrain and Saudi Arabia have banned Iranian-flagged vessels from their ports, Gard said citing a GAC correspondent. As disclosed, the imposed restrictions introduced by the two countries stipulate that no dealings are to be undertaken with Iranian flagged vessels until further notice. What is more,
GAIL of India has reportedly bought two spot liquefied natural gas cargoes from UK-based LNG player BG Group and Qatar. According to a report by Reuters, BG will supply a cargo of LNG for delivery in February, while Qatar’s cargo is for March. The February cargo was sold for around US$5/MMBtu, while
Final deliveries of rubber-tire gantry cranes (RTGs) and ship-to-shore (STS) gantry cranes, capable of handling ultra-large containerships (ULCS) of up to 16,000 TEU capacity, arrived at the new 1.3 million TEU deep-water APM Terminals Izmir facility in December, 2015. The video above gives an exiti
The developers of the Leviathan gas field offshore Israel signed on Sunday a deal to sell around $1.3 billion worth of gas to Edeltech. Edeltech will buy the natural gas for the purpose of operating power plants which it is due to build, together with its Turkish partner Zorlu, in Ashdod and Mishor
Popular news, January 25 – 31, 2016
BREAKING: Shell-BG merger approved BG Group’s shareholders on Thursday approved the multi-billion merger with Hague-based energy giant Shell, creating the world’s largest LNG company. ExxonMobil: natural gas demand to rise 50 pct Texas-based energy giant ExxonMobil said in a report on Monday that na
The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. The lower forecast reflects a number of supply and demand factors. These include sooner-than-anticipated resumption of ex
Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels hits an already-saturated world market, a Reuters poll showed on Friday.
Iranian president Hassan Rouhani is wasting no time while on his European trip, triggered by the lifting of the economic sanctions against Iran earlier this month. Spearheading the Iranian delegation’s trade mission to Europe this week, first in Italy, now in France, Rouhani, first Iranian president
Limited supply growth in the Aframax sector of only 3.5% through the end of 2020 in addition to paradigm shifts in demand such as US exports and expanded Panama Canal opening will enable this sector to outperform the larger crude tankers, according to the latest report from McQuilling Services. “Afr
BG Group’s shareholders on Thursday approved the multi-billion merger with Hague-based energy giant Shell, creating the world’s largest LNG company. This is Shell’s biggest ever acquisition and the largest oil and gas deal since Exxon bought Mobil in 1999. According to a statement by BG, 99.53 perce
An oil and gas industry skills and workforce development body, Opito, has appointed Graham Gall a new managing director. The organization said Gall would lead “the continued growth of its rapidly expanding international business.” Formerly the managing director of Falck Safety Services in Brazil, G
The crude oil tanker market is expected to grow strongly in 2016, with projected fleet increase of 4.3%, BIMCO said. Most of the new tankers will be delivered in the second half of 2016 and the demolition activity is likely to stay subdued as the market enjoys high rates. Following a considerably qu
Texas-based energy giant ExxonMobil said in a report on Monday that natural gas and LNG are expected to meet about 40 percent of the growth in global energy needs and demand for the fuel will increase by 50 percent. “In 2040, oil and natural gas are expected to make up nearly 60 percent of global su
