Finance

Vestas: Low Oil Price, No Problem

The oil price drop has not discouraged investment in rival wind power as much as feared, the chairman of Danish Vestas Wind Systems said on Monday. "I thought

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Calecore Enters Into Administration

Norfolk, UK-based offshore site investigation company Calecore has entered into administration, the company announced today.   Joint administrators Matt Howard

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Midland Braces for Impact as Drilling Slows

Sales tax receipts in the thriving oil town of Midland, Texas, fell this month, only the third decline in five years and one of the first signs of how low oil prices

Ravenna Port to Test Faster ICT-Based Controls

The EU's TEN-T Program will back with over $976,000 a study and pilot deployment of automated road and rail gates in the Port of Ravenna in Italy. The new ICT-based

ECDIS to be Installed on 100 plus Maersk Vessels

Maersk Line selected Transas Marine for  ECDIS implementation on  more than 100 vessels.   The contract features Transas state-of-the-art Navi-Sailor ECDIS 4000

Cash Reserves Up 80% at Russia's Surgut

The cash reserves at Russia's third-largest oil producer Surgutneftegaz have swelled 80 percent to 1.8 trillion roubles ($31.2 billion), company data and Reuters calculations showed on Monday.

Keppel FELS Delivers 11th Jackup to Mexico

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered a KFELS B Class jackup rig to Mexican national oil company,

UK Oil & Gas Reform: Is the Plan Sufficient?

With North Sea producers reeling with the impact of the oil price collapse and jobs and spend being slashed, on March 18th the UK Chancellor of the Exchequer announced tax cuts.

Oil Slips on Possible Iran Deal, Strong Dollar

An Iran nuclear deal could bring new oil supply; more price falls seen as U.S. stocks are sold off. Oil prices fell on Monday as officials from Iran and six

Eurasia Drilling Extends Schlumberger Sale Deadline

Russia's Eurasia Drilling said on Monday it had agreed to extend a deadline on a proposed deal to sell a stake to international oilfield services firm Schlumberger from March 31 to April 30.

India Rejects BP's Jet Fuel Play

India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market in Asia's No. 3 economy, saying it did not meet the conditions necessary,

Hi-Tech, Big Data to U.S. Oil's Rescue

The tech geeks are coming to the oil industry's rescue. With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp

CMA CGM to Add Ships, Pursue More Economies

CMA CGM, the world's third-largest container shipper, announced on Monday plans to order three giant vessels and said higher volumes and profit last year showed

Reopening Date of Libya Oil Ports Uncertain

It is too early to say when Libyan oil ports Es Sider and Ras Lanuf can reopen after a force loyal to a self-declared Tripoli government pulled out troops from frontlines near to the terminals,

Bets on Brent Crude Rally are Rising

Hedge funds increased their bets on rising Brent crude oil prices last week to their highest since July 2014, exchange data showed on Monday, in a sign large speculators

Australia's LNG Boom's Domestic Impact

It's somewhat ironic that as Australia ramps up to being the world's biggest exporter of liquefied natural gas (LNG), domestic industries are under threat from not being able to source the fuel.

Rosneft's Vankor Output May Decline

Oil production at Vankor oilfield, one of the largest deposits controlled by state-run Russian top oil producer Rosneft , may start declining next year, a top official at the company told reporters.

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