A stalled global economic recovery from the coronavirus pandemic is leading to a fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.The use of so-called floating storage onboard tankers comes as traditional onshore storage remains close to capacity as supplies outpace demand.Trading house…
Saudi Arabia's crude oil shipments to its biggest customer, China, are expected to drop to their lowest level in more than a year in April, trade sources said on Thursday, partly due to maintenance programmes at Chinese refineries owned by Sinopec…
Woodside Energy has held talks with several potential buyers of stakes in its Louisiana liquefied natural gas plant, including Tokyo Gas, Japan's JERA and Saudi Aramco-backed MidOcean Energy, multiple sources told Reuters.The timing of the stake…
U.S. energy company Sempra's Sempra Infrastructure unit said on Thursday it signed a fixed-price agreement with Bechtel Energy to build the second phase of the Port Arthur LNG export plant in Texas.Under the terms of agreement, Bechtel will handle detailed engineering…
Saudi Arabian state-owned oil and gas giant Aramco and Sempra, one of North America’s leading energy infrastructure companies, have executed a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for liquefied natural gas (LNG) offtake of 5…
The U.S., Saudi Arabia, India and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railways and connecting to India by port, according to U…
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.A total of 1.77 million barrels per day (bpd) was added to inventories in May, the most since July 2020 and reversing the small…
Saudi Aramco’s shipping division Bahri has put on hold plans to charter up to 12 liquefied natural gas (LNG) tankers after Sempra Energy delayed its decision on whether to proceed with an LNG export project in Texas, two sources said.Bahri issued…
The cost to transport oil on supertankers soared on Thursday as major producers scrambled to secure vessels to ship more crude in a bid to regain market share and buyers took advantage of plunging oil prices.Freight charges to ship oil in very large crude carriers (VLCCs) from the Middle East…
Naval forces from the Saudi-led coalition fighting in Yemen on Sunday foiled an 'imminent terrorist' attack by the Iran-aligned Houthi movement in the southern Red Sea, a major commercial shipping channel, the coalition said.The forces destroyed…
Inmarsat has announced that it will bring its maritime, aviation and enterprise connectivity solutions to customers based in Saudi Arabia through new partner agreements.The company additionally announced that it has secured new spectrum licences…
North American energy infrastructure company Sempra Energy and Saudi Aramco's Aramco Services Company, signed an Interim Project Participation Agreement for the Port Arthur LNG export project under development in Jefferson County, Texas.According to a press release…
Korea Shipbuilding & Offshore Engineering (KOSE), a manufacturer of oil tankers, cargo and passenger vessels, and warships, and Saudi Arabian Oil Company (Saudi Aramco) plans to set up a joint venture to build engines.According to South Korea’s…
Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were…
Yemen's Iran-aligned Houthi movement released three vessels and 16 people it had seized, South Korea's Foreign Ministry and a Houthi military source in Yemen said on Wednesday.The seizure on Sunday was the latest incident at sea around Yemen…
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