Oil Below $50 on Supplies, Economy Concerns

Oil worker wage talks begin in Norway; return of Nigerian supply could hit prices -Goldman. Oil fell below $50 a barrel on Thursday, pressured by higher Nigerian

Petrobras Adds C-Suite Position, Plans New Strategy

Brazil's Petrobras said late Wednesday that its board of directors had created a new senior management post responsible for strategy, organization and system management

Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize

Saudis Ending Oil Market War: Russell

Has Saudi Arabia already switched tack and started to surreptitiously balance supply and demand in the crude oil market? One of the persistent themes of crude

Norway Oil & Gas Output to be Impacted if Workers Strike

Norwegian oil companies and trade unions began two-day wage talks on Thursday in a bid to avert a strike that would initially cut the country's output by 229,000 barrels of oil equivalents,

Brexit: No More than a Bump in the Road for Oil

Rebalancing the oil market could take slightly longer as a result of the upsurge in uncertainty following Britain's vote to leave the EU but most traders seem to

Qatargas to increase LNG supply to Pakistan

 Qatargas, the World’s Premier LNG Company, today announced a long-term Sale and Purchase Agreement (SPA) with Global Energy Infrastructure Limited (GEIL). Under the terms of the agreement,

AWO Authorizes ClassNK to Perform RCP Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Radio Holland Wins Contracts for Canadian Coast Guard Vessels

Radio Holland Canada has won two major contracts to support the Canadian Coast Guard. Public Works and Government Services Canada, which is responsible for government procurement,

Pertamina picks Shell to process Iraqi Crude

Indonesia's Pertamina has selected Shell to process a million barrels per month of Iraqi crude at a Singapore refinery, a senior official at the state-owned company said on Wednesday.

Climate Policies Won't Strand Oil & Gas: Kemp

Fossil fuel-producing companies have been thrown onto the defensive over the last two years by the argument that many of their reserves will be "stranded" as the

Energy Transfer Ends Williams Merger Deal

Energy Transfer Equity (ETE) said on Wednesday that it has terminated its merger agreement with Williams Cos Inc after ETE's counsel were unable to declare the deal as tax-free.

Egypt's Launches Tender for Another FSRU

Egypt has launched a tender to hire a third floating and storage regasification unit (FSRU) to import liquefied natural gas (LNG), an official from state-run energy firm EGAS told Reuters.

Traders Charter VLCC's for Crude Storage

Glencore, Gunvor charter 4 tankers to store oil for a few months; traders eye higher prices in Q4 on winter demand. Two trading houses, including commodities group Glencore,

Oil Rises after Brexit Shock; Norway Strike Threatens Output

Falling crude output in Venezuela; U.S. crude stocks down by 3.9 mln barrels. Oil rose on Wednesday as traders poured money back into markets hit by the initial

Statoil to keep Fields Operating if Strike Happens

Statoil will initially keep oil fields operating even if negotiations set for June 30 to July 1 fail to avert a strike that would halt output at others, the Norwegian

Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million

CIMIC's Leighton Asia Awarded Project in India

CIMIC Group Company Leighton Asia, through its subsidiary Leighton India Contractors, has entered into an alliance agreement to deliver phases two and three of the Maker Maxity project in Mumbai,

Boskalis Secures Dike Reinforcement Project

 Royal Boskalis Westminster N.V. announced that the Noorderzijlvest district water board intends to award the contract for the Eemshaven-Delfzijl dike reinforcement

Wärtsilä, Zamakona Yards Join forces in Canary Island

Wärtsilä is enhancing its service offering by participating in a new maintenance hub in the Canary Islands. The facility, operated by one of Spain's biggest shipbuilding and ship repair groups,

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