Romgaz, a Romanian gas company, raises 500 million euros through its debut Eurobond
IFR data show that Romanian state-owned Romgaz issued its first eurobond on Monday. The company sold 500 million euros (559.50 million dollars) of five-year papers to fund a project for deepwater gas in the Black Sea. Romgaz and OMV Petrom have partnered to develop Neptun Deep Black Sea Gas Project, one of Europe's largest natural gas reserves.
Analyst Mielke predicts that refined palm olein will average 23% more in the first half of 2025.
Thomas Mielke, a leading industry analyst, said that the price of palm olein in Malaysia, which is refined, bleached, and deodorized, will be $1,100 per ton, free-onboard (FOB), in the first half 2025. This represents a 23% increase from last year. RBD palm oil prices could rise, which would support the benchmark Malaysian palm futures and increase demand.
Palm extends its losses as concerns about demand weigh
Malaysian palm futures continued to fall on Friday. They hit a new low of three weeks, as the sluggish market outweighed worries about supplies of sunflower oil from the Black Sea region, which is the largest producer, and gains in soft oils. The benchmark contract for palm oil delivery in November on Bursa Derivatives exchange was down 21 Ringgit (0.55%) at $3,831 Ringgit ($888.45).
Four states join forces to build an interconnector for Azeri windfarms
Azerbaijan formed a joint-venture company with Georgia, Romania, and Hungary on Tuesday. The aim is to build an interconnector undersea across the Black Sea to connect planned Azeri Windfarms with Europe. Green Energy Corridor Power Company, based in Bucharest, Romanian capital will oversee the construction of a 1,000 megawatt cable that runs 1,100 km (685 miles) from Azerbaijan into Romania.
OMV Petrom Makes Largest Crude Oil Discovery in Decades
Romanian oil and gas group OMV Petrom, majority-controlled by Austria's OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall 2022 production.The deposits are the largest crude oil discovery OMV Petrom has made in decades, it said, and were found in southern Romania…
Ukraine's Odessa Gets First WTI Oil Cargo from US
Ukraine's Black Sea port of Odessa is set to receive on Wednesday its first ever West Texas Intermediate (WTI) oil cargo from the United States, according to industry sources and shipping data, just a month after the front-month futures for the blend turned negative.U.S. West Texas Intermediate (WTI) May crude futures sank to minus $38 per barrel on April 20…
TurkStream Gas Pipeline Launched
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and markets in southeastern Europe.TurkStream, which is laid in the Black Sea, is a link between the gas transmission systems of Russia and Turkey.
Russia's Rosneft Tenders Marine Fuel Cargos in Euros
Top Russian oil producer Rosneft has put up marine fuel cargos for sale with the euro as the default currency, a tender document showed on Monday, in line with its plan to sell oil products in the single currency instead of the U.S. dollar.Rosneft said it had tendered to sell up to 70,000 tonnes of low-viscosity marine fuel…
GSP Offshore, Trident Black Sea Bid in Ukraine
GSP Holding company GSP Offshore SRL is the preferred drilling and engineering services provider of Trident Black Sea, in its bid for the right to negotiate a production sharing agreement (PSA) with the Ukrainian government for the offshore Dolphin block in the northwestern part of the Black Sea.According to a press release…
U.S. Oil Makes it to Ukraine, a blow to Moscow
U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data…
Tainted Oil Set for Russian Refineries, Ports After Dilution
More than a million tonnes of contaminated oil from Russia's Druzhba ("Friendship") pipeline, expected to be shipped back from Belarus, will end up at Russian refineries and export ports after being diluted to usable levels, sources have told Reuters.The pipeline was halted in April after excessive levels of organic chloride…
Oil Shipments from Georgia's Batumi Port Drop
Oil and oil-related shipments from Georgia's Black Sea port of Batumi dropped 24 percent in the first four months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Wednesday.Shipments of crude oil and refined oil products from Batumi have fallen in recent years, partly because Azerbaijan…
Saipem Settles South Stream Dispute
South Stream Transport, which is responsible for the construction and operation of the TurkStream Offshore Pipeline, and the Italian oil and gas industry contractor Saipem have settled the arbitration concerning the South Stream offshore pipeline installation contract entered into on March 14, 2014.The subsidiary of Italian…
BSOG Gets Approval in Offshore Romania
Romanian-based Black Sea Oil & Gas (BSOG), controlled by private equity firm Carlyle Group, said that it received approval from the Romanian government for the field development plan (FDP) for the Ana and Doina gas fields.The Ana and Doina gas fields make up the Midia Gas Development (MGD) Project, offshore Black Sea.The MGD Project…
Black Sea MGD Project Gets Government Nod
Black Sea Oil & Gas (BSOG), controlled by private equity firm Carlyle Group LP, announced it has received Romanian government approval from the Romanian Government through the National Agency for Mineral Resources (NAMR) for its plan to develop the offshore Ana and Doina natural gas fields which make up the Midia Gas Development Project (MGD Project)…
Bourbon Wins Shell Contract in Bulgaria
Bourbon Marine & Logistics said on Thursday it has been awarded a contract from Shell to support the oil major's exploration drilling in the Black Sea offshore Bulgaria.The French services company said its project scope covers the full logistics solution project management, offering for the first time both marine logistics together with shore logistics: marine services…
Shell Starts Exploratory Drilling off Bulgaria
Royal Dutch Shell said on Tuesday it will start drilling an exploration well in a block off Bulgaria's Black Sea coast next month for oil and gas.Shell has teamed up with Spain's Repsol and Australia's Woodside Energy after sealing a contract with Bulgaria in 2016 for deepwater exploratory drilling as part of Sofia efforts to end its almost complete reliance on Russia's natural gas supplies.
Turkey Set to Begin Drilling off Cyprus
Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighboring Cyprus and Greece.Turkey and the internationally recognized Greek Cypriot government have overlapping claims of jurisdiction for offshore oil and gas research in the eastern Mediterranean…
As Traders Tussle Turkmenistan Cuts Exports
A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets, mainly from fields operated by the UAE's ENOC and Italy's Eni…
Epic Gas Bullish on LPG Carriers Market
Global seaborne liquefied petroleum gas (LPG) volume is expected to grow by over 6% in 2019 and surpass 100 million tonnes for the first time.Singapore based provider of pressurised LPG vessels, Epic Gas said that it is well positioned to benefit from the improving fundamentals of the LPG shipping market.For the fourth quarter of 2018…
