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Iraqi Oil Sector 'Doing Nothing' To Prepare For Y2K
Iraq's oil industry is not prepared to deal with the millennium bug and may be forced to shut down production and exports at the turn of the year, according to an industry source in Baghdad.
First Tanker Fixed For Next Phase Of Oil For Food Deal
The first tanker to carry Iraqi oil exports under the next phase of the U.N. "oil for food" deal has been chartered subject to the program being extended, according to shipping brokers.
Oil Prices a Nine-Year High As Iraq Suspends Exports
Oil prices rocketed to a new nine-year high on Nov. 22 after Iraq suspended oil exports under its humanitarian exchange program with the United Nations. London January Brent futures opened at $25.90…
Suezmax Market To Be Hit Hardest By Iraqi Export Suspension
Depressed tanker markets will be hit hard by Iraq's decision to suspend crude oil exports for up to two weeks, tanker brokers said. Suezmax tanker rates in the Mediterranean…
Oil Prices At Nine-Year High As Iraq Suspends Exports
Oil prices rocketed to a new nine-year high Nov. 22 after Iraq suspended oil exports under its humanitarian exchange program with the United Nations. London January Brent futures opened at $25.90…
'Great Satan' Blamed for Iran's Y2K Woes
Although its more than 622 years away by their count, Iranians must deal with millennium issues in about 32 days. Iran's 20-year-old breach with the United States…
OPEC Production Falls
OPEC oil production fell 700,000 bpd in November, driven down by deep cuts to Iranian and Iraqi supply. The group's compliance rate with supply curbs improved to…
Mideast Oil Exports Needed To Pull VLCC Rates Up
A resumption in Middle East oil exports to the U.S. is required to drag VLCC tanker rates off the floor, shipping brokers said. A late start to seasonal westbound…
World Energy Flows Freely After 2000 Changeover
From Australia to Alaska, world energy producers carried on as usual on Jan. 1, with strategic oil and gas flows uninterrupted by the much-feared Y2K bug. Oil-consuming…
VLCCs Wait For Iraqi Oil, Suezmaxes Poised For Flurry
The expected return of Iraqi oil dominated the 250,000 ton tanker market in the Middle East toward the end of the week, shipping brokers said on Dec. 10. But rates…
Seized Tanker Awaits Unloading
A Russian oil tanker seized in the Gulf for what the U.S. said was the smuggling of Iraqi oil docked in Oman on Monday (today), and its cargo will be unloaded soon…
President Clinton Energizes Oil Price Debate
It’s really quite amazing how one year and an additional $21 per barrel of crude can change people’s attitudes. It was less than 12 month ago that the price per…
Russia Urges Release Of Tanker
Russian officials have reportedly sent a formal demand to Washington that it immediately release a tanker it seized in the Gulf on suspicion of smuggling Iraqi oil.
Iraq: Oil Prices Not Too High Yet
Iraqi Oil Minister Amir Muhammed Rasheed said that oil prices were not too high and accused the United States of overreacting to the rally. Rasheed also said that…
Carnival Reports Second Quarter Results
Carnival Corporation & plc reported net income of $127.8 million ($0.19 Diluted EPS) on revenues of $1.33 billion for its second quarter ended May 31, 2003, compared…
Merchant Mariners Honored for Supporting Sealift Operations
In recognition of their patriotic service during Operations Enduring and Iraqi Freedom, crewmembers of the SS Wright were honored today in Baltimore by presentation…
OPEC Production Up 773K/bpd
OPEC oil production looks likely to rise by 773,000 barrels a day in April including 225,000 bpd from Iraq, a leading tanker tracker told clients on Wednesday. Petrologistics…
COMNAVSEA Lauds NNSY Excellence as Part of One Shipyard for the Nation
In presenting the 2003 Commander-in-Chief's Installation of Excellence Award to Norfolk Naval Shipyard (NNSY) yesterday, Vice Adm. Phillip M. things necessary to build 21st century naval readiness.
Secretary Ridge to Welcome Back Coast Guard Forces
Department of Homeland Security Secretary Tom Ridge will welcome back Coast Guard Patrol Forces Mediterranean in a ceremony at Nauticus in Norfolk on June 11 at 3 p.m.
Littoral Combat Ship Leads the Charge
MR/EN had the opportunity to speak with Admiral Robert Natter, Commander, Atlantic Fleet, Fleet Forces Command, who is not only responsible for one of the largest fleet of Navy ships in the world…