Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019.U.S. crude production rose 241,000 barrels per day (bpd) to 11…
Norwegian shipping company Belships has has entered into an agreement to hedge the price differential between compliant 0.5% sulphur fuel oil (VLSFO) and 3.5% sulphur fuel oil (HSFO).The secured exposure is for 24,000 tons of bunkers for the full calendar year 2020…
According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection…
U.S. energy consumption, production, and exports have reached record highs in 2018, said U.S. Energy Information Administration (EIA).The United States produced a record amount of energy from various sources in 2018, reaching 96 quadrillion British thermal units (quads)…
Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights…
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity.'Very important that OPEC increase the flow of Oil. World Markets are fragile…
Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).Natural gas emerged as the fuel of choice…
UK-based Flex LNG has entered into a time-charter agreement with an international energy major for one of its liquefied natural gas (LNG) carriers.A press release from the owner and operator in LNG shipping with a fleet of next generation LNG…
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual…
Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to 'relax and take it easy'.Hedge funds and other money managers were net buyers of an extra 16 million…
Oil prices reversed course on Friday, falling 2 percent as bearish U.S. manufacturing data stoked concerns over global energy demand growth.The ISM manufacturing activity index in February sank to the lowest since November 2016, and was below expectations…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
China's coal consumption is set to rise slighly to 3.89 billion tonnes in 2019 from 3.87 billion tonnes last year, the president of the China National Coal Association said on Monday.Wang Xianzheng made the forecast at an industry event in Beijing…
It's been weird in the coal world in recent days, with the world's largest shipper saying it's capping output, biggest seaborne buyer China putting restrictions on some imports, and an Australian court saying mines must factor in climate change…
Oil traders are becoming very bullish on the outlook for prices, betting that Saudi Arabia will do whatever it takes to tighten the market even if consumption growth slows, helped by U.S. sanctions on Iran and Venezuela.Brent's calendar spread…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
