Fuels & Lubes

Crude Up Over 2 pct, Russia Mulls Oil Talks

Crude oil prices settled up more than 2 percent on Monday, bolstered by a rally in U.S. gasoline and Russia's willingness to meet other major oil producers to discuss the market.

MARAD Backs Emissions Reduction Projects

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it will provide more than $1 million to support the development of two new emission-reducing maritime solutions.

Canadian Oil Sands Set to Reject Suncor Takeover Bid

Canadian Oil Sands is set to reject a hostile takeover bid from rival Suncor Energy, according to a source who is familiar with the situation. The source, who

Canada's Alberta to Introduce Provincial Budget

Canada's oil-producing province of Alberta, which has been hammered by falling crude prices, will table its next budget on Oct. 27, Alberta Finance Minister Joe Ceci said on Monday.

Paraguana Refineries to Restart Processing Units

The president of Venezuela's state oil company said on Monday crude was circulating at the 955,000-barrel-per-day Paraguana Refinery Center (CRP) and that key processing

Becker Marine, Kotug Sign MOU for LNG Hybrid Barge

Press release - Becker Marine Systems and KOTUG signed a Memorandum of Understanding to launch a LNG Hybrid Barge in the Port of Rotterdam with effect from June 2017.

U.S. Settles 2010 BP Spill Claims for $20 bln

The U.S. Justice Department on Monday said it settled its claims against oil company BP PLC for more than $20 billion. The 2010 rig explosion on April 20, 2010,

Libya's Oil Output Down

Libya's oil production has dropped to 300,000 barrels per day, less than a quarter of what it produced before the 2011 fall of Muammar Gaddafi, mostly because of insecurity and closed pipelines,

Russia's Lukoil Raises $250 mln of Financing

Russia's second-largest oil producer Lukoil said on Monday it had raised $250 million of financing for a period of five years from Alfa Bank, one of the country's largest private lenders.

Suncor Expects Imperial Oil to Run Syncrude Project

Suncor Energy chief executive Steve Williams said on Monday he expected Imperial Oil would continue to run the Syncrude joint venture oil sands project even if

Investors Cut Bullish Bets on Brent Crude Oil

Investors cut their bets last week that the price of Brent crude oil will rise, according to data on Monday from the InterContinental Exchange (ICE). Fund managers

Oil Up as Russia Mulls OPEC Talks, Rig Count Drops

Oil rose on Monday after Russia said it was ready to meet other producers to discuss the market, where prices have more than halved from last year's highs due to a supply glut.

Saudi Pricing Shows Oil Volatility Amid Oversupply: Russell

Saudi Arabia's decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over.

Suncor Launches Hostile Bid for Canadian Oil Sands

Suncor Energy Inc launched a hostile bid for Canadian Oil Sands Ltd as the slump in oil prices encourages consolidation in Canada's oil sands industry, which has

Shell's Philippine Unit Preparing for IPO

The Philippine unit of Royal Dutch Shell Plc said on Monday it was looking to launch a long-delayed initial public offering sometime next year, and may sell even

Exxon Sells 2016 Upper Zakum Crude at Higher Premium

ExxonMobil has sold 2016 supplies of Upper Zakum crude to at least one buyer via a tender at a slightly higher premium than a year ago, trade sources said on Monday.

Rolls-Royce to Cut More Staff of Marine Unit

Britain's Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, its latest move to make the unit more efficient

Oil Loadings Resume at Port of Kozmino

Russian oil pipeline monopoly Transneft has resumed oil loadings from the Russian Pacific port of Kozmino after a storm, Interfax news agency quoted the company's spokesman as saying on Monday.

New Class Rules Favor Seawater Lubricated Props

Classification societies are changing their monitoring rules for seawater-lubricated propeller shafts in line with the rules governing the inspection and withdrawal

MARAD to Fund Study on LNG Conversions

MARAD provides funding to further study LNG as marine fuel for containerships The U.S. Maritime Administration (MARAD) announced it has entered a $900,000 cooperative

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