Asian Refiners Rush to Secure Feedstock as Trade War Looms
U.S. tariffs on Chinese goods came into effect Friday; China retaliates, duty on U.S. crude possible. Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China…
Oil Slips Below $77
Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions.Top exporter Saudi Arabia told OPEC it raised oil output by almost 500…
Saudi Aramco, Petronas tap Banks for Jumbo Financing
Saudi Aramco and Malaysia's Petronas have approached banks to replace a short-term $8 billion loan raised earlier this year for a joint venture with long-term financing of approximately the same size, banking…
Papua New Guinea LNG Export Plant Offers Cargo for September
Exxon Mobil's Papua New Guinea liquefied natural gas (LNG) export plant has offered a cargo for delivery in September, two industry sources said on Tuesday.The cargo is to be delivered into Japan, Taiwan, South Korea or China, and the tender closes on Wednesda
Iran Floats Surplus Oil as Demand Falls Ahead of US Sanctions
Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the United Arab Emirates for about a month as demand for the oil fell ahead of U.S. sanctions.The tankers, carrying about…
New U.S. LNG Projects, Enough to Double Exports, on Verge of Launch
New U.S. liquefied natural gas terminals with enough capacity to double U.S. exports have either begun commissioning their facilities or are waiting for approval from the energy regulator, a review of their documents showed this week.Although long planned…
MOL's FSRU Challenger for Hong Kong LNG Terminal Project
Mitsui O.S.K. Lines (MOL) announced that MOL, has entered into a preliminary agreement to supply a Floating Storage and Regasification Unit (FSRU), as well as Jetty Operation & Maintenance Services for the Hong…
Oil Rises as U.S. Sanctions on Iran Squeeze Supply
Oil prices rose about $1 a barrel on Tuesday as U.S. sanctions squeezed Iranian crude exports, tightening global supply despite efforts by Washington to get other producers to increase output.Brent crude futures rose $1.13 to $78.50 a barrel…
Oil Responds to U.S. Sanctions on Iran
U.S. sanctions on Iran to remove crude oil from market; oil markets tight on supply losses in Libya, Venezuela. Oil prices climbed on Friday as U.S. sanctions against Iran threatened to remove a substantial volume…
Europe's Iranian Oil Purchases Set to Plummet
Key lender for Europe's oil purchases cuts credit from June 30. European refiners are cutting purchases of Iranian oil faster than expected as the U.S. prepares to reimpose sanctions on Iran, threatening a more…
Oil Jumps as Market Anticipates U.S. Sanctions on Iran
Oil prices rose strongly on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets at a time of rising global demand.Benchmark Brent crude jumped $1.49…
Largest Oil Shipment Sent from Vancouver to China Since 2015
An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show.For years, Canadian officials have…
Oil Slips, Weighed by Saudi Output, Trade Spat
U.S. crude inventories rise unexpectedly; U.S. implements tariffs on Chinese goods on Friday. Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China…
Aqualis Offshore to Position Egina FPSO
Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria.EPCIC contractor for the $3.3 billion FPSO…
S.Korea LNG Imports Set to Ease from Record
South Korean imports of liquefied natural gas are set to ease from record levels racked up in the first-half of the year, with appetite for the fuel from utilities seen fading as a raft of nuclear power stations…
Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal
Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call…
Oil Steadies but Outlook for Demand Grows Gloomy
Oil rose as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though a weakening outlook for crude demand kept prices in check.The oil market had felt the effects on Wednesday of a large build in U.S.
Middle East Oil & Gas Shipping Routes are at Risk
Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran…
Höegh LNG Secures FSRU Debt Financing
Höegh LNG Holdings Ltd. said it has received commitment letter for a sale and leaseback financing for another floating storage and regasification unit (FSRU) of up to $206 million. FSRU #10 is currently under…
MOL Takes Delivery of LNG Schneeweisschen
Mitsui O.S.K. Lines (MOL) announced that the LNG carrier, LNG Schneeweisschen, jointly ordered by MOL and Itochu Corporation was delivered on July 31st at the Okpo shipyard by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.The 180…
