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Oil Supply Glut News

29 Jul 2020

Webinar: Floating Production Forecasts & Analysis

© Danial / Adobe Stock

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT). REGISTER HERE.The effects of the COVID-19 crisis and oil supply glut continue to seriously dampen investment appetite in the oil and gas sector…

21 Jul 2020

Webinar: Floating Production Forecasts & Analysis

© sedsembak / Adobe Stock

A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis, presented by ABS and World Energy Reports, will be held July 29, 2020, 11 a.m. (EDT). REGISTER HERE.The effects of the COVID-19 crisis and oil supply glut continue to seriously dampen investment appetite in the oil and gas sector…

29 May 2015

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering firm Ship Finance to strengthen its balance sheet. Once the world's biggest crude tanker firm, Frontline has struggled for years despite a restructuring in 2012, but increased demand for transport and storage amid the current oil supply glut has boosted demand. To reduce its costs, the tanker arm of shipping tycoon John Fredriksen's sprawling business interests also struck a new deal with Ship Finance, a vessel-owning company leasing out ships, giving the U.S. company a 27.7 percent stake in Frontline and adjusting the way the two split their profits. Ship Finance, spun off from Frontline in 2004, is also controlled by Fredriksen.