LNG carrier attacked in Gulf of Guinea LNG carrier La Mancha Knutsen came under pirate attack in the Gulf of Guinea, off Nigeria’s Port Harcourt. Qatargas, PGNiG ink new LNG deal Qatargas, the world’s largest liquefied natural gas (LNG) producer, signed a new supply deal with Polish Oil and Gas Comp
The dry bulk shipping industry remains well on target for profitable freight rates in 2019 if the projected fleet supply growth rate of 0% in 2017 continues, according to international shipping association BIMCO. In 2016, the supply side grew by 3% and the demand side grew by 2.4%, which resulted in
By Edmund Blair LONDON (Reuters) – Oil prices climbed more than $1 on Wednesday, lifted by a surprise drawdown in U.S. inventories and data from the International Energy Agency (IEA) suggesting OPEC cuts should create a crude deficit in the first half of 2017. “For those looking for a rebalancing of
By Aaron Sheldrick TOKYO (Reuters) – Crude oil prices hovered near three-month lows on Tuesday, with investors waiting for key reports and data that may shed light on a supply overhang in the global market. U.S. West Texas Intermediate crude (WTI) <CLc1> was down 7 cents at $48.33 a barrel, as of 07
The global marine freight industry is expected to return to 2014 levels by mid-2019 and reach a value of approximately USD 210 billion by 2021, according to the findings of research firm MarketLine. “The recovery in the industry is expected to be fueled primarily by a return of global demand as oil
On March 8, Egypt’s Port Said East welcomed the 18,300 TEU containership Mette Maersk, which became the second Triple-E class vessel to call an Egyptian port and the first with a commercial stop at the port’s Suez Canal Container Terminal (SCCT). Owned by Danish container shipping giant Maersk Line,
Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipper, held its annual general meeting on Sunday in Doha to review last year’s results. The LNG shipping giant sees a bright future for the industry despite the current economic challenges, low oil and gas prices and overcapacity in
The most popular articles of the week.
By Aaron Sheldrick TOKYO (Reuters) – Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude (WTI) <CLc1> was up 17 cents, or 0.4
OPEC Secretary General Mohammad Barkindo has praised Russia’s commitment to the oil production cuts Opec and Non-Opec had agreed in December 2016. Asked about Russia’s level of compliance the OPEC Secretary General this week confirmed Russia had said from the start that it wouldn’t immediately be ab
By Jane Chung SEOUL (Reuters) – Oil prices climbed on Thursday after sharp losses the session before, buoyed by strong compliance with touted international production cuts, although a surge in U.S. crude inventories continued to drag. The Organization of the Petroleum Exporting Countries (OPEC) and
Despite what you may have heard, conventional oil and gas exploration is not dead, and on the contrary, this might even be the perfect time for the exploration players to invest. This was a main takeaway from a session titled „The future of exploration,“ held during the CERAWeek by IHS Markit on Wed
Saudi Arabia’s oil minister Khalid Al-Falih has made it clear that the times of OPEC cutting production to stabilize oil prices without the contribution of the non-OPEC nations are gone. Speaking at the CERAWeek conference organized by IHS Markit, Al-Falih expressed optimism about the market fundame
Crew members who are nationals from Iran, Libya, Somalia, Sudan, Syria and Yemen shall be denied entry to US ports unless they hold a valid visa, according to the new executive order issued by US President Trump. The new executive order “Protecting the Nation from Foreign Terrorist Entry into the Un
