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Offshore Oil: Tullow eyes Ghana Assets

May 31, 2018

Tullow Oil is interested in new oil blocks off Ghana's coast as part of the British explorer's plans to consolidate its operations in the West African nation, Chief Executive Paul McDade said. Tullow is leading two operations offshore Ghana…

Concordia Boosts Tanker Biz

May 25, 2018

To prepare for a gradually strenghthening tanker market, Concordia Maritime decided to participate in three suezmax tankers chartered in by Stena Bulk. The 158,000 dwt vessels were built in Korea between 2012-2014. The contracts are for 12 months…

China Opening May Spark Iron Ore Markets

May 25, 2018

In the relatively short space of the past decade the paper iron ore market has grown from virtually nothing to exceed the physical market, but now the industry is grappling with what comes next. While the growth in iron ore futures and exchanged-cleared swaps has been impressive…

Russia's Novak Says Oil Production Curbs Could Be Eased

May 24, 2018

Russian Energy Minister Alexander Novak said on Thursday restrictions on oil production could be eased 'softly' if OPEC and non-OPEC countries see the oil market balancing in June, the Interfax news agency reported.Novak said OPEC and non-OPEC…

India's GAIL Turns to Spot and Short-term LNG Deals

May 24, 2018

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…

UN Seeks Traders' Help Enforcing North Korea Sanctions

May 22, 2018

A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped…

FPSO at Jubilee Oil Field to Close for Fix

May 21, 2018

The production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said on Monday.The planned shutdown next Monday of the Kwame Nkrumah production vessel…

US Oil Rig Count Holds Steady after Weeks of Gains

May 18, 2018

The U.S. oil rig count held steady this week after rising for six weeks in a row even as crude prices soar to multi-year highs, prompting drillers to extract record amounts of oil, especially from shale.The total oil rig count held at 844 in the week to May 18…

As Oil Prices Surge, US Eyes Growing Labor Shortage

May 18, 2018

Finding roughnecks remains a challenge for oil drillers as rising crude prices increase demand for their services, oilfield executives said on Thursday at a conference in Houston.Oilfield service suppliers cut tens of thousands of workers following the 2014 oil-price collapse…

New Water Booster Pumps for Polvo FPSO

May 17, 2018

As part of the life extension project for the Polvo Floating production storage and offloading (FPSO) vessel, operator BW Offshore has contracted Norwegian based liquid handling and pump specialist PG Flow Solutions to supply new water booster pumps…

Rosneft: South China Sea Drilling is Within Vietnam Waters

May 17, 2018

Drilling in the South China Sea by Rosneft is within Vietnamese territorial waters, the Russian state oil firm said in a statement on Thursday, two days after its Vietnamese subsidiary began drilling in Vietnamese waters claimed by China.Rosneft's local unit…

O&G Exploration in Chinese Waters Requires Beijing's Permission

May 17, 2018

China's Foreign Ministry said on Thursday that no country, organisation, company or individual can carry out oil and gas exploration or exploitation in Chinese waters without permission from Beijing.Ministry spokesman Lu Kang made the comment…

U.S. Crude Liftings for Asia to Hit New High in July

May 16, 2018

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…

Bangladesh Drops Trafigura in LNG Talks as Gunvor Advances

May 16, 2018

Bangladesh has terminated talks with Swiss-based commodity trader Trafigura to install a small floating liquefied natural gas (LNG ) import terminal due to delays in agreeing terms, while rival trader Gunvor advances with a separate project…

Russia State Oil Firm Starts Drilling at New Well Offshore Vietnam

May 15, 2018

A unit of Russian state oil firm Rosneft, Rosneft Vietnam BV, has started drilling at a new production well in waters off the southern coast of Vietnam, the company said in a statement posted to its website on Tuesday.The drilling is significant for Vietnam…

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