Oil Contango Boosts Crude Storage at Sea

Monday, August 10, 2009

According to an August 7 report from Reuters, the amount of crude oil being stored at sea has risen sharply over the last two weeks, particularly in the U.S. Gulf, due to a price incentive for oil companies to hold stocks on board vessels. While the estimates vary from around 60 million to 100 million barrels, most sources agree offshore storage levels rose by around 10 million barrels in the last two weeks alone.

(Source: Reuters)

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Edelweiss Now Controls Bharati Shipyard

Edelweiss Asset Reconstruction Company has taken over management control of Bharati Shipyard, says a report in ET.   Edelweiss now controls 70% of the Indian yard’s debts.

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4341 sec (2 req/sec)