Finance

China Shipbuilders may Merge to Stay Afloat

 The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

China's Shenhua Signs First Coal Trade Deal with Mongolia

  China's biggest coal producer, the Shenhua Group, has signed a deal to buy 1.2 million tonnes of high-grade coking coal from Mongolia, a move that could help

Russia Denies Report of Gas Deal with Greece

  Russia denied on Saturday a German media report suggesting that it could sign a gas pipeline deal with Greece as early as Tuesday which could bring up to five

Higher Production by Petrobras in March

Petrobras production of oil and natural gas in Brazil and abroad, in March 2015, was 2 million 764 thousand barrels of oil equivalent per day (boe). Of these, 2

Greece Gas Deal with Russia Soon

  Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3-5 billion euros into depleted government coffers, German magazine Der Spiegel reported,

U.S. Oil Drilling Faces Slow Recovery -Schlumberger

  An eventual recovery in U.S. oil drilling activity after the biggest slump in three decades may never reach last year's frenzied pace, according to the world's largest oilfield services company.

Petrobras covers 2015 financial needs with loans, sale

Brazilian state-run oil company Petroleo Brasileiro SA said on Friday it has approved a series of credit and sale operations to cover its financial needs for this year.

Crude Price Back Above Break-even for Canada Oil Sands Producers

Bolstered by a weak Canadian currency and robust demand from U.S. refiners, Canadian heavy oil prices have rebounded off first-quarter lows and surpassed the break-even point for most producers,

Seaspan Takes Delivery of New Containership

 Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

 The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

US Oil Rigs Drilling Declines to Lowest Since 2010

The fall in the number of U.S. rigs drilling for oil slowed this week, data showed on Friday, although the number of active rigs has fallen for a record 19 weeks

Energy Industry Funds Tropical Cyclone Research

Global energy companies have joined forces to fund new research aimed at advancing tropical cyclone forecasting in Northern Australia to further improve offshore

Schahin Files for Bankruptcy Protection in Wake of Scandal

Twenty-eight units of Brazilian engineering firm Grupo Schahin filed for bankruptcy protection on Friday as fallout from a corruption scandal at key client Petróleo

US Proposes Higher Royalty Rates for Drilling Federal Land

The U.S. government would get a larger share of oil and gas revenue from federal land under a proposal the Interior Department is expected to announce on Friday.

BP Shareholders Back More Disclosure on Climate Change Risks

BP shareholders voted overwhelmingly on Thursday to publish regular updates on how its strategies were affecting climate change from next year, making it one of

British Independent Energy Supplier in Stake Sale Talks

Independent British energy supplier Ovo Energy, one of the leading challengers to the country's big-six energy groups, is in talks to sell a minority stake in a

Schlumberger Shares Rise as Cost Cuts Impress

Schlumberger Ltd's shares rose as much as 3.3 percent on Friday, after tight cost controls helped the world's No.1 oilfield services provider report higher-than-expected margins in the first quarter.

Statoil Committed to End Routine Flaring by 2030

Statoil and several other oil companies and nations joined together today to commit, for the first time, to end the practice of routine gas flaring at oil production sites by 2030.

Kemp: Prospect of Nuclear Deal is Already Weighing on Oil Prices

Lifting sanctions on Iran's oil industry could significantly change the outlook for oil supply and prices, the head of the U.S. Energy Information Administration told U.

Brent Slips Below $64 as Ample Supplies Weigh

Oil prices eased slightly on Friday as evidence this week of rising crude supplies from OPEC members offset Middle East tensions and signs of a slowdown in U.S.

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