Finance

Turkey’s Role for the Tanker Market

 Even though the coup attempt in Turkey  failed and the transportation situation normalized quickly thereafter, Poten & Partners take a look at the

China’s One Belt, One Road: Will it Reshape Global Trade?

 The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment

IOC Mulls Buying GSPC's Stake in Mundra Terminal

 Indian Oil Corporation (IOC), the country's largest oil company,  is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.

Saudi's PetroRabigh Q2 Profit Slides 79.6%

Saudi Arabia's Rabigh Refining and Petrochemical Co. (PetroRabigh) reported a 79.6 percent decrease in net profit in the second quarter on Sunday as petrochemical

Canada Seek to contain Oil Spill

Authorities are building a new containment boom to fight an oil spill in a major western Canadian river, officials said on Saturday, after the spill breached a

Canada Economy to Rebound After Energy Slump

Canada's economy should rebound "over the course of the year" from the impact of a wildfire in its energy heartland, Finance Minister Bill Morneau said on Saturday

Ecuador Pays $112 mln Award to Chevron

Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.

NASSCO Bags USS Oak Hill Modification Award

General Dynamics NASSCO-Norfolk was awarded a $42 million cost-plus-award-fee modification to a previously awarded contract for the repair and alteration for the USS Oak Hill (LSD-51).

Global Fleet Growth: A More Mature Trend?

 The supply of ships into the fleet is a key determinant of vessel earnings across the shipping sectors, and world fleet growth is closely followed by everyone in the maritime industry,

Seaborne Transportation - Economy Without Borders

 With seaborne transportation accounting for the vast majority of the world’s international trade, the importance of the shipping industry to the mechanics of the

Brazil's Petrobras plans to sell voting control of BR fuels unit

Brazil's Petróleo Brasileiro SA said on Friday it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels

U.S. Drillers add Rigs for Fourth Straight Week

U.S. drillers this week added oil rigs for a fourth consecutive week, according to a closely followed report on Friday, with the recent return to the well pad expected

Silver Run Takes Majority Stake in Oil Producer Centennial

Silver Run Acquisition Corp, run by energy industry veteran Mark Papa, said on Friday it had taken a controlling stake in oil producer Centennial Resource Development LLC,

Argentina Buys 6 LNG Cargoes

Argentina's state-run energy firm Enarsa has purchased six liquefied natural gas (LNG) cargoes as part of a recent tender from Vitol, Gunvor, Trafigura and Iberdrola, trade sources said.

Crude Oil Prices Face Weekly Decline as Glut Fears Persist

Crude futures remained on track for weekly losses on Friday as investors reassessed U.S. data on oil stocks and excesses in oil products in Europe and Asia.   While

Schlumberger Sees Oil Supply Deficit if Demand Growth Holds

Schlumberger Ltd, the world's No. 1 oilfield services provider, said it expects a "significant global supply deficit" of crude oil, assuming steady growth in demand,

Forcados Crude Exports Halted for Another Month

Nigeria's Forcados crude oil exports are expected to remain halted for at least another month as pipeline repairs continue following a militant attack in February,

U.S. Refineries in Worst Year Since Shale Boom Started

U.S. independent refiners such as Valero Energy Corp and Phillips 66 look set to post another quarter of disappointing earnings, putting the industry on track for its worst year since the U.

Asia-N.Europe Box Rates Fall 8.1 pct

Freight rates for transporting containers from ports in Asia to Northern Europe fell 8.1 percent to $713 per 20-foot container (TEU) in the week ended on Friday,

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

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