Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier 'Vladimir Rusanov', which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July…
Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States…
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…
Beijing slows approval process for new ethanol plants; ationwide roll-out of E10 fuel by 2020 in doubt. China's ambitious push to use biofuel in cars nationwide by 2020 is in doubt amid concerns about supplies of raw material such as corn…
Indian gas utility GAIL (India) has switched its focus to short-term and spot deals for the purchase of liquefied natural gas (LNG) to meet rising demand and hedge against price volatility, its chairman said.The move from longer-term deals comes as India builds infrastructure…
Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent U.S. sanctions.The move by BPCL indicates…
India's state-owned GAIL (India) Ltd on Friday said it would be annually receiving about 90 cargoes of liquefied natural gas (LNG) from Sabine Pass and Cove Point LNG terminals in the U.S. GAIL has long-term deals to annually buy 5.8 million tonnes U…
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…
Asia's U.S. crude imports hit all-time high in May as WTI discount to Brent falls to widest in three years. The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to…
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…
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…
With the last module of the Johan Sverdrup riser platform lifted into place, the first of four topsides of the next North Sea giant has been installed.“It’s a special feeling to see the first Johan Sverdrup platform in place, even a few days…
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…
Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernisation of its refineries, companies' plans and analysts' reports show. Russia embarked on a modernisation…
Shipping tycoon John Fredriksen has reached an agreement with a majority of creditors over a restructuring plan for oil rig firm Seadrill, according to U.S. court documents on Monday. The company, once the world's largest offshore driller by market value…
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