Bursa Malaysia-listed oil and gas firm Hibiscus Petroleum has signed agreements with global oil trader Trafigura for crude offtake and for future financing.The agreements include potential future offtake of crude oil by Trafigura from assets owned/projects undertaken by Hibiscus…
Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures.West Texas Intermediate (WTI) crude futures were 7…
Malaysia's offshore vessel provider Alam Maritim has won a contract with Sapura OMV Upstream.Alam Maritim said Monday that the contract awarded by the oil and gas company was for the provision of underwater services.The value of the contract is around RM6…
IEV, an asset integrity services provider to the oil and gas industry, has won a contract to provide advanced inspection solutions for an oil company in Malaysia.Singapore-based IEV said Monday it had won the contract through its 49%-owned associate…
Oil and gas output from some of the world's top oil companies is set to drop by nearly 11% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented…
Shipping, logistics, and marine services provider GAC has teamed up with a Singapore-based start-up to work on the delivery of supplies to vessels and offshore platforms via drones.GAC and the start-up named F-Drones will work to develop large…
Thai energy company PTT Exploration and Production Pcl said on Monday its joint venture had made two deep-water oil discoveries in the Salina Basin, offshore Mexico.The Mexican subsidiary of PTTEP, Thailand's largest oil and gas producer, and…
A giant crane collapsed on Saturday on Deme Offshore's flagship offshore vessel Orion at Liebherr's yard in Rostock, Germany, during crane load tests.Deme said Saturday that 'a few persons suffered minor injuries.' Deme Offshore said: 'A serious…
Philippines President Rodrigo Duterte on Monday temporarily increased tariffs on imported crude oil and refined petroleum products to fund measures aimed at mitigating the economic impact of the coronavirus outbreak.In an executive order, Duterte…
Gulf Marine Services (GMS), a UAE-based provider of offshore service jack-up units has rejected a takeover proposal from Seafox.Seafox on April 30, 2020, announced an unsolicited and non-binding approach to acquire the entire issued and to be issued share capital of Gulf Marine Services…
It's hardly news that the COVID-19 pandemic has sent most every market into tumult, most notably the oil and gas market as political power plays flood the world with oil precisely when demand has plummeted. Here we provide some recent insights…
Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.Exchanges and regulators see the positions of all members and traders…
Greenhouse gas emissions capture and storage may be a more practical alternative to emissions reduction for meeting the IMO’s 2050 CO2 target. Tom Mulligan reports.Shipping emits close to 1 billion tons of CO2 each year and the shipping industry…
Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Power Corporation (ADPower) have this week jointly announced tender for they development and operation of the region’s first high-voltage, direct current (HVDC) sub-sea transmission system…
Southeast Asia-focused oil company KrisEnergy has said it has secured a loan for the development of a gas field offshore Cambodia.The company on April 30, 2020, entered into a credit facility agreement with Kepinvest Singapore Pte. Ltd. as a lender for a loan of up to $87 million…
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