Potential of new U.S. sanctions against Iran keep market on edge as OPEC cuts bolstered by Venezuelan declines also support. Oil prices slipped on Thursday as swelling U.S. crude inventories and record weekly U.S. production clashed with OPEC supply cuts and the potential for new U…
Xodus Group said it has signed a Memorandum of Understanding (MoU) with Atlantis Resources to pursue the development of a tidal energy project in Japan.The ambition for this agreement is to secure funding and establish a commercially viable…
The new Shanghai crude oil futures have been trading for just over a month and have so far managed to build up reasonably strong volumes, but this success may only mask some wider concerns. The yuan-denominated contracts were launched on…
Ampelmann has secured two contracts with vessel owner L.A.T.C Marine Limited, on behalf of ExxonMobil, for the supply of two L-type gangway systems, offshore Nigeria. Following successful sea trials of the L-type gangway system, the integrated solution was approved for operations…
Lloyd’s Register (LR) said it signed a contract to class the first ever floating storage regasification unit (FSRU) to be ordered for Indian waters.Due for delivery in December 2019, the new 180,000m³ FSRU will be built to LR’s Rules for the…
India asked Japan on Tuesday to help build infrastructure needed to boost the usage of liquefied natural gas (LNG) in India and elsewhere in Asia, India's oil minister Dharmendra Pradhan said after a meeting with Japan's trade minister Hiroshige Seko…
Malaysian shipping firm MISC Group has taken delivery of Seri Cemara, the final vessel in a series of five MOSS-Type liquefied natural gas (LNG) carriers built for long-term charter to Petronas.The 150,200 CBM LNG carrier has been built for…
Taiwan is becoming the next battleground for the world's top offshore wind developers as they seek a foothold in Asia for a technology that has been expanding fast in Europe.Taiwan announced results on Monday of its first major offshore wind farm auction that aims to add 3…
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…
The Bureau of Safety and Environmental Enforcement (BSEE) – incorporating industry innovation, best science, and best practices – is proposing to update regulations covering offshore oil and gas drilling operations to improve reliability, safety…
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…
ABS executives informed the industry conversation at Singapore Maritime Week, with presentations on the growing cyber security threat to maritime, new opportunities to take advantage of data, and the huge potential of LNG shipping for the region…
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…
Statoil said on Friday it had expanded its leadership team and changed its corporate structure to reflect the company's increased focus on Brazil.Statoil's Brazilian operations will become a separate business unit headed by Margareth Oevrum…
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