Construction work has begun on a joint venture to build a shipyard on Saudi Arabia's eastern coast, oil rig builder Lamprell Plc said in a statement on Friday.The joint venture, International Maritime Industries (IMI), started operations…
Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. Vessel-tracking and port data suggest Asian imports of U…
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…
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…
Commodities trading house Trafigura said on Tuesday it signed a new agreement with Plains All American Pipeline to transport 300,000 barrels of crude oil per day from the Permian basin to the port of Corpus Christi, in a move aimed at boosting exports…
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…
InterMoor, an Acteon company, has completed two major offshore projects for China Offshore Oil Engineering Corporation (COOEC). To extend the life of the Hai Yang Shi You III FPSO, the first project involved full mooring system replacement in the Panyu field…
A modern descendant of the first LNG containment system for ships could become one of the key technologies carrying gas transport and trading into tomorrow. Joe Evangeilsta reviews its evolution. When the new Panama Canal opens in late 2015…
On 5 January 2014, Euronav NV announced it would acquire 15 very large crude carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. Today, Euronav said that eight of the VLCCs have been delivered in the first half of 2014. Deliveries…
KNOT Offshore Partners LP formed an agreement with Brazil Shipping I Ltd., an affiliate of BG Group, for the time charter of shuttle tanker Windsor Knutsen, the company announced on 13 June 2014. The charter has an initial term of two years…
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