Diamond Offshore Drilling Inc reported a smaller-than-expected quarterly loss on Monday, helped by new contracts for the company's deep-water rigs. Rig utilization was at 52 percent during the first quarter, from 47 percent last year, even as average day rates…
For all the bullish chatter, hedge fund managers have become cautious about increasing their exposure to crude oil, though they are becoming increasingly optimistic about the outlook for refined fuels again. Hedge funds and other money managers…
Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in Northeast and South regions of Brazil. Petrobras intends to sell 60% of its equity interest in each of these new companies…
Noble has other investor meetings due in next few weeks; but court decision could complicate restructuring process. A Singapore court blocked commodity trader Noble Group Ltd from holding its annual meeting of shareholders on Monday following legal action sought by dissident shareholder…
Singapore's Maritime Port Authority (MPA) is set to announce it is making use of mass-flow-meters (MFM) mandatory onboard marine gasoil barges used to refuel large ships, two people with knowledge of the matter said. The announcement will…
U.S. oil producer ConocoPhillips posted a bigger-than-expected quarterly profit on Thursday, on rising crude prices and cost cuts. Conoco, like many of its peers, has seen results steadily improve in recent quarters alongside commodity prices…
The Singapore fuel oil market has rallied this week as inventories have dropped at the same time that some supplies in the region do not meet the standards for use as shipping fuel, further reducing the amount of supply available, five trade sources said…
Singaporean rig builder Sembcorp Marine Ltd said on Wednesday first-quarter profit fell 86 percent, and signaled a subdued outlook for orders and business volumes.Sembcorp Marine said profit came in at S$5.3 million ($4 million) for the three-month period ended March…
Pipeline technology company STATS (UK) Ltd increased profits by 65 percent to £4.3 million ($6 million) while maintaining revenues of £30 million, ($41 million) according to its latest annual accounts lodged at Companies House.The accounts to December 31…
Shell has signed an agreement to sell its Downstream business in Argentina to Raízen for $0.95 billion in cash proceeds at completion, subject to customary closing conditions. The sale includes the Buenos Aires Refinery, around 645 retail stations…
China's surging imports of crude oil this year are the major driver of higher prices on the demand side, but the flip side to this is soaring Chinese fuel exports that are hurting profit margins at regional refiners. The world's largest crude importer took in 9…
Bangladesh has finalized a 10-year deal to import 1 million tonnes of liquefied natural gas (LNG) annually from Oman Trading International, two energy officials with direct knowledge of the matter told Reuters.The deal with Oman Trading is Bangladesh's…
U.S. supplies to Europe set for all-time high in April; on course to overtake Russia, Saudi. As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude…
Oil major buys various grades from Qatar, UAE, Russia; re-sells Qatar Marine and Sokol. Royal Dutch Shell has snapped up more than 8 million barrels of Middle East and Russian crude oil loading in June and resold some cargoes at higher premiums as it profits from robust demand in Asia…
Asia's gasoline crack on Thursday hit lowest since 2016; recent high refinery throughput countered maintenance season. Gasoline profits for Asia's oil refiners hit their lowest since 2016, while refining margins have touched a three-month low…
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