Supertanker freight rates eased this week as surging demand for floating storage cooled and crude oil output is set to fall, but rates could jump again as fewer tankers become available and as traders take advantage of weak oil prices, sources said…
Malaysia called on Thursday for disputes over the South China Sea to be resolved by peaceful means, amid a standoff between Chinese and Malaysian vessels that a U.S. think tank said had been going on for months.U.S. and Australian warships arrived…
Australia's Santos Ltd posted a 13% drop in first-quarter revenue on Thursday due to lower realized prices for oil and gas, but said it had sufficient liquidity and debt headroom to weather the recent crude price crash.The country's second-largest…
Singapore-based offshore drilling rig builder Keppel Offshore & Marine has delivered a newbuild jack-up drilling rig to Norway's Borr Drilling.The rig, named Hild, was built to Keppel's KFELS Super B Class design. The Hild is the sixth jack-up that Keppel has delivered to Borr Drilling…
The supply of Malaysia's flagship crude grade Kimanis will be halved in May and June due to weak demand and as the country has agreed to reduce production in a pact with major oil producers, two sources familiar with the matter told Reuters on Wednesday…
Qatari state-owned oil and gas company Qatar Petroleum has signed a deal to reserve LNG ship construction capacity in China in a deal potentially worth more than $3 billion.QP said that the reserved LNG carrier construction capacity would be used for QP’s future LNG carrier fleet requirements…
An Australian frigate has joined three U.S. warships in the South China Sea near an area where a Chinese vessel is suspected to be exploring for oil, near waters also claimed by Vietnam and Malaysia, officials said on Wednesday.The warships…
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.Brent crude…
After recently delaying projects in Vietnam, London-listed oil company Jadestone Energy has decided to postpone infill drilling programs at its Stag and Montara offshore fields in Australia, in a move to reduce cash spending due to the oil price rout…
Norwegian multi-client offshore seismic data firm TGS has completed the reprocessing of a 21,631-square kilometer regional 2D seismic survey offshore Sakhalin Island, in the Russian Sea of Okhotsk.TGS, a provider of offshore data to exploration & production (E&P) companies…
The Maritime and Port Authority of Singapore (MPA), home the world's top marine refueling hub, said it has awarded two new bunker supplier licenses to Mercuria's Minerva Bunkering and Trafigura's TFG Marine.'MPA and ESG welcome the entry of Minerva Bunkering and TFG Marine…
Two U.S. warships are operating in the South China Sea, the Navy said on Tuesday, with three regional security sources saying they were near an area of a standoff between China and Malaysia.The Haiyang Dizhi 8, a Chinese government research ship…
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark…
The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.This is the first shipment since March 2019 after a long-standing trade war in which China…
Australian oil and gas company Beach Energy has terminated the contract for Diamond Offshore's Ocean Onyx semi-submersible drilling rig, citing delays in the rig's arrival.The rig was to be used by Beach Energy at the Victorian Otway Basin, however…
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