Logistics News

 

Denmark Swings to Net Oil Importer as North Sea Production Dips

Aug 30, 2018

A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country's energy agency said on Thursday after slashing its long-term oil production forecast.The Danish Energy Agency expects this year's oil production to reach 128…

Transporting Costs Go Up: TMM

Aug 24, 2018

The thirty-sixth edition of the Transport Market Monitor (TMM) by Transporeon and Capgemini Consulting reveals high transport prices due to declining transport capacities and rising fuel costs.In Q2 2018, the capacity index decreased by 36.3% to 70…

Seanergy Maritime Holdings Revenue up by 20% in 1H 2018

Aug 12, 2018

Seanergy Maritime Holdings Corp. net revenues for  six months ended June 30, 2018 were $38.1 million, up 20% from the first half of 2017.The shipping company generated net revenues of $16.8 million for the quarter ended June 30, 2018, an 8% decrease compared to the second quarter of 2017…

ConocoPhillips sells 16.5 pct of North Sea Asset to BP

Jul 03, 2018

U.S. oil producer ConocoPhillips said on Tuesday it would sell a 16.5 percent stake in the Clair field to oil major BP for an undisclosed price. Houston, Texas-based ConocoPhillips will retain a 7.5 percent interest in the North Sea offshore oil field through a unit while BP will hold a 45…

Panama Imports Its First LNG Cargo

Jun 19, 2018

Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America.Many utilities in Central…

Oil Slips Further as Focus on OPEC Mounts

May 24, 2018

U.S. crude, gasoline inventories rise unexpectedly as Brent-WTI spread nears widest margin in three years. Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC will end an output deal…

Conoco Moves to Seize PDVSA's Caribbean Assets

May 07, 2018

U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela's state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions…

Two U.S. Coal Miners See Growth Amid Sector's Gloom

May 02, 2018

U.S. electric utilities are expected to shut hundreds more of their coal-fired power generators in the coming years, extending a long trend away from coal and toward natural gas that has cast a pall over the mining industry. But not every U…

Is Aramco Share Sale Distorting OPEC Policy? Kemp

Mar 07, 2018

By restraining production, OPEC and its allies have succeeded in eliminating excess oil stocks and accelerating the recovery in prices, but they are paying an increasingly high price in terms of market share. U.S. producers will capture all the growth in global oil consumption this year…

Shell: LNG Supply Shortage Possible as Demand Surges

Feb 26, 2018

The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Such strong growth in demand is consistent with Shell’s first LNG Outlook…

Brent Crude Eases, as Canadian Supply Drop Boosts U.S. Futures

Feb 20, 2018

Monday U.S. holiday pulls WTI's Friday gain into Tuesday. Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low…

North Sea Forties Pipeline Ramps Up Again Slowly

Feb 08, 2018

Buzzard oilfield restarts, pumping below full rate-source; Forties has temporary flow restriction. Oil and natural gas flows along Britain's biggest and most important oil pipeline, Forties, were ramping up slowly on Thursday as the system…

Brent Crude Nears $70 on OPEC Cuts, Demand

Feb 02, 2018

UBS sees upside for demand growth in 2018. Reuters survey shows strong compliance with output cuts. Brent oil prices held near $70 per barrel, supported by strong compliance with output cuts by OPEC and its ally Russia, as well as expectations for strong demand growth in 2018…

Oil Rises as OPEC Compliance Eclipses US Output

Feb 01, 2018

U.S. production tops 10 mln bpd for first time since 1970 as U.S. inventories rise by 6.8 mln bbls. Oil prices rose on Thursday after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970…

IEA Sees Oil Markets Tightening as PDVSA Output Sags

Jan 19, 2018

As U.S. oil output is poised to overtake Saudi Arabia, Venezuelan oil output is at 30-year low - and could fall further. Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017's biggest unplanned output fall and could see a further decline in 2018…

Current News

Shell's Gulf of Mexico Offshore Oil Transfer Platform to Be Offline Until Year-end

Shell's Gulf of Mexico Offshore Oil Transfer Platform to Be Offline Until Year-end

BP Brings Online Matapal Project Offshore Trinidad and Tobago

BP Brings Online Matapal Project Offshore Trinidad and Tobago

Lebanon's Prime Minister Seeks Clarification over Halliburton's Offshore Drilling Deal in Israel

Lebanon's Prime Minister Seeks Clarification over Halliburton's Offshore Drilling Deal in Israel

Response to Speculation: UK's SSE Says No Break-up Decision Made

Response to Speculation: UK's SSE Says No Break-up Decision Made

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