Fuels & Lubes

Austria's OMV Looks to Sell Turkish Unit Petrol Ofisi

Austrian oil group OMV said on Friday that it is putting its Turkish subsidiary Petrol Ofisi up for sale as part of its strategy to dispose of non-core assets.   OMV

N.America's First LNG Marine Fuel Terminal Opens

Harvey Gulf announced the opening of the first marine LNG fueling terminal in North America. Less than a year after the delivery of the M/V Harvey Energy, America’s first LNG-powered vessel,

UK North Sea Oil & Gas Starts at 45-year Low

The number of new exploration wells to be drilled in the British part of the North Sea this year is set to fall to the lowest since the hunt for oil and natural gas began there in the early 1970s,

U.S. Refiners Eye Gasoline Demand After Storms

The prospect that U.S. oil refiners might respond to rising stockpiles of refined fuels and weakening margins by cutting the amount of crude they process has roiled oil markets in recent days.

U.S. Refinery Cuts Quicken, Impact Crude Markets

For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins.

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

KPI Bridge Oil’s Kofiani Tomacoglu Relocates to Athens

KPI Bridge Oil; a global trader and broker in marine fuels, marine lubricants and risk management products; has relocated bunker and lubricant trader Jenny Kofiani Tomacoglu to its Athens office.

Venezuela's Paraguana Complex Operating at 560,000 bpd

Venezuela's massive 955,000-barrel-per-day (bpd) Paraguana refinery complex was operating at around 560,000 bpd, an oil workers' union leader and fierce critic

UK to Offer More Flexible North Sea O&G Licences

Britain will offer more flexible North Sea oil and gas licences in its next tender round, the head of Britain's oil regulator said on Thursday, a bid to make exploration

Venezuela Proposes OPEC, Non-OPEC Producers "freeze" Oil Supply

Some OPEC countries are trying to achieve a consensus among the group and key non-members for an oil production "freeze", sources familiar with the discussions say,

Total CEO: Refining Capacity Cuts Necessary

Total spurs European shutdowns; urges others to follow suit despite strong profits. Refiners buoyed by cheap oil and fat margins face a return of tougher times due to stubborn overcapacity,

Obama Climate Plan Faces Skeptical Supreme Court

The U.S. Supreme Court's unexpected move to block President Barack Obama's policy to cut pollution from coal plants highlights what both sides in the legal fight

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Canadian Energy Companies Sell "Jewels" to Keep Oil Sands Afloat

Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production

With Oil Fee, Obama Shows Plan for Sector-by-sector Carbon Price

U.S. President Barack Obama's budget would raise $319 billion over 10 years from the phased introduction of an oil fee equivalent to $10.25 per barrel on crude oil,

Obama's Proposed Oil Tax 'Dead on Arrival'

Republican leaders in the House of Representatives on Wednesday dismissed U.S. President Barack Obama's proposed $10.25 per barrel tax on oil, saying the increase

Russia Considers Drastic Steps to Plug Finances Hit by Tumbling Oil

Russia is running out of options to plug a yawning hole in its budget - and steps unthinkable before oil prices began to plunge 20 months ago are now being considered.

GTT, DSME Partner for NO96 Max Development

GTT signs a cooperation agreement with Daewoo Shipbuilding & Marine Engineering aiming at the industrialization of its NO96 Max technology   GTT, a designer of

Wärtsilä Supporting Japan's 'Gas Age' Shipping

A total of 16 new gas carrier ships being built in Japan for Japanese owners are to be powered by Wärtsilä dual-fuel engines capable of running on liquefied natural

Investors Line Up for OMV's Gas Grid Gas Connect Austria

Gas Connect Austria, the pipeline unit of Austrian energy group OMV, has drawn interest from several parties ahead of an auction that could value the asset at up to 750 million euros ($845 million),

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