Finance

ChemChina to take 40% stake in Rosneft's petrochemical project

Russia's biggest oil producer Rosneft said on Saturday that China National Chemical Corporation (ChemChina) would take a 40 percent stake in its planned petrochemical

Speculators Boost US Natural Gas Net Longs for 4th Week

U.S. natural gas speculators boosted their net longs for a fourth consecutive week, betting prices will rise as production eases and power demand remains high to

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

 U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

The American Club Reports Solid Progress in 2015

The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the

LR, The Well Academy Partner on Training Solutions

Lloyd’s Register and The Well Academy have further strengthened their collaboration through the signing of a global frame agreement. This agreement provides a mechanism

FACT to Boost Output After Drop in LNG Prices

India's Fertiliser and Chemicals Travancore Ltd (FACT) aims to boost output by two thirds to a million tonnes in 2016/17 after a sharp fall in liquefied natural gas (LNG) prices,

Brexit Leaves EU ETS in Doubt

Traders say future of EU ETS uncertain if UK pulls out; British MEP resigns as ETS reforms rapporteur. Britain's decision to leave the European Union has raised

Baltic Index up for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, for a third straight session, on rising demand across all vessel segments.

Petrobras: Pension Fund has $6.8 bln Shortfall

Brazil's state-led oil company Petrobras said on Thursday its pension fund has 22.6 billion reais ($6.8 billion) in unfunded liabilities, a new financial burden

Shell to Work with UK, EU on Brexit Impact

Royal Dutch Shell said it will work with the British government and European institutions on any implications for its business from Britain's decision to leave the European Union,

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

BP: UK Headquarters Unchanged Despite Brexit Vote

Oil major BP said on Friday its headquarters would remain in the United Kingdom, despite Britain voting to leave the European Union. "It is far too early to

Brexit: Limited Impact on Oil so far: Kemp

Crude oil prices have so far shown only a modest impact from Britain's vote to leave the European Union on Thursday. Brent crude futures for the nearest contact

Oil Dives as Britain Votes to Exit EU

Market contagion hits oil hard; Brent, WTI both fall more than 6 percent. Oil prices slumped by more than 6 percent on Friday after Britain voted to leave the European Union,

OSG Joins NYSE "Big Board"

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer

Oil Will Likely Rise $10/bbl this Summer -Venezuela Oil Minister

Oil prices will likely rise $10 per barrel over the summer, Venezuelan Oil Minister Eulogio del Pino told a local radio network on Thursday.   (Reporting by Diego Ore; Editing by Sandra Maler)

Ecopetrol Offers 20 Blocks in Auction Launch

Colombia's state oil company Ecopetrol offered 20 oil and gas blocks for auction on Thursday, part of a company plan to cut back amid low global crude prices.   One-hundred

Donors Give $2.9 Mln to Train BC’s Future Shipbuilders

The Dennis & Phyllis Washington Foundation, in conjunction with Seaspan, announced today a multi-year, multimillion dollar investment in the future of British Columbia’s marine industrial sector.

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