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Oil Takes News

12 Feb 2018

Big Oil Takes Stage for Post-austerity Beauty Contest

(File photo: Shell)

With years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook. Major oil companies slashed spending and cut costs after oil prices collapsed…

12 Dec 2016

Maersk Fluid Technology Upgrades SEA-Mate

Website screen grab of the SEA-Mate Value Calculator (Image: Maersk Fluid Technology)

Maersk Fluid Technology (MFT) said it has recently upgraded its SEA-Mate Blending-on-Board Value Calculator to include a mobile optimized version that will assist in calculating savings, based on a variety of real life scenarios. The SEA-Mate Blending-on-Board (BOB) system enables the crew on board the vessel to blend an engine-specific fit-for-purpose cylinder lubricant with the optimal neutralization and detergent properties. The in-use two-stroke engine system oil is blended with a high-BN cylinder oil.

18 May 2016

Canadian Oil Exports Drop, Supply Hunt on Amid Wildfires

In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week, while another blend of Canadian sweet crude oil rallied as concerns grow about supply. Overall, trading in Canadian crude was quiet, as the second half of the month is generally inactive. Hot and dry weather and strong winds were expected to push the wildfire burning near Fort McMurray, Alberta eastward on Wednesday, continuing to threaten facilities and work camps in Canada's prized oil sands. With the fire projected to grow further, producers are starting to scramble for needed oil supply.

21 Mar 2012

Crude-Tanker Cargo Rises 32 Percent on Saudi Exports: Report

The supply of crude oil cargoes for the largest tankers rose 32 percent so far this year, as Saudi Arabia boosted exports to compensate for the possibility of fewer Iranian cargoes, Arctic Securities ASA said. Very large crude carriers hauled 97 million metric tons of oil in the first 11 weeks of the year, up from 73.7 million tons during the same period of 2011, Oslo-based analyst Erik Nikolai Stavseth said by phone. Shipments strengthened as Saudi Arabia boosted production before an embargo on Iranian oil takes effect in July, he said. The U.S., the world’s largest oil consumer, imported an average of 1.5 million barrels a day from Saudi Arabia this year, on course for the highest quarterly average since September, 2008, according to preliminary data from the Energy Department.

26 Feb 2001

IBIA Elects New Executive Members

At its recent general meeting in London, the International Bunker Industry Association (IBIA) elected new officers to its executive. Chris Leigh-Jones of Kittiwake Developments Ltd was elected the association's new chairman. He replaces Ivar Tonsen of Gearbulk and was previously IBIA's vice chairman.; the association's new vice chairman is Nicholas Ladis of NL Transol in Greece; David Peart of Tyne Tees Bunkering retired as honorary secretary. Paul Dyke of Tramp Oil takes over in this role; and Angus Ogilvie of Cockett Marine continues his term as honorary treasurer. "This is a strong management team and it will help guide and shape IBIA's efforts over the next two years.