Maritime News

 

Only 10% of Shale Firms Reports Positive Cash Flow

May 30, 2019

Only four, out of the financial performance of 40 dedicated US shale oil firms under study, reported a positive cash flow balance in the first quarter of 2019, bringing down the share of companies with a positive cash flow balance from the recent norm of around 20% to just 10%…

Norway Oil Workers Threaten Strike

May 29, 2019

Around 200 Norwegian offshore oil and gas workers plan to go on strike on June 4 unless pay negotiations lead to a deal with employers, the Lederne labour union said on Wednesday.A strike would hit seven offshore fields and at least two of those would have to shut production…

Pemex's Oil Exports Tumble

May 28, 2019

Pemex's oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday.Exports of Maya crude, the only type Pemex has been selling abroad for almost a year…

Novatek Wins New Russian Licences

May 24, 2019

Independent Russian gas producer Novatek and LNG operator Novatek has secured the right to explore on the Krasnoyarsk Territory.Russia’s largest LNG producer said in a press release that it has obtained five new licenses on the Krasnoyarsk Territory…

Pemex Promised $7.3 Billion in Tax Relief

May 24, 2019

Mexico's government aims to give $7.3 billion in tax relief to heavily indebted state oil company Pemex, according to a document seen by Reuters on Thursday, in an effort to cool fears over its financial viability and the impact on the wider economy…

Norway's April Oil Output Lags Forecast

May 22, 2019

Norway's oil production fell 8.8 percent year-on-year in April to 1.38 million barrels per day, lagging the official forecast for the month by 0.6 percent, Norway's Petroleum Directorate (NPD) said on Wednesday.Including condensate and natural gas liquids (NGL)…

North Sea Oil Production May Go Down

May 17, 2019

On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said.'Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160…

Brent Oil Climbs Toward $73

May 16, 2019

Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories.Brent crude futures were up $1.03 cents at $72.80 a barrel by 1344 GMT…

Oil Price Risks Rise

May 14, 2019

Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend…

Oil&Gas Industry Records 1242 Contracts in Q1

May 13, 2019

The Oil and Gas industry reported 1242 contracts, of which 1178 were awarded contracts, said Quarterly Oil & Gas Industry Contracts Review.Europe, the Middle East and Africa (EMEA) region recorded the most contracts with 569 contracts, representing…

Belships Hedges 2020 Fuel Oil Prices

May 10, 2019

Norwegian shipping company Belships has has entered into an agreement to hedge the price differential between compliant 0.5% sulphur fuel oil (VLSFO) and 3.5% sulphur fuel oil (HSFO).The secured exposure is for 24,000 tons of bunkers for the full calendar year 2020…

Brazil Sets Parameters for Mega Oil Auction

May 10, 2019

Brazil's national energy council on Thursday published updated parameters for a massive oil auction scheduled for later this year, including minimum levels of profit-sharing with the government, while also urging a shakeup in the refinery sector…

From KPMG: Visions of Cheese

May 08, 2019

Whilst we are seeing a clear uptick in activity and the UK oil and gas industry is certainly on the way up again, the industry must continue to move forward. However, under current market conditions, how can companies capitalize on change whilst remaining stable and sustainable and…

Okea Eyes Listing by Mid-2019

May 07, 2019

Norwegian oil company Okea AS said on Tuesday it was planning an initial public offering by mid-2019, in a bid to raise funds to finance further expansions.The company, which is partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital…

Oxy Would Sell Anadarko’s Africa Assets to Total

May 05, 2019

France's Total SA said on Sunday it has agreed with Occidental Petroleum Corp to acquire the African assets of Anadarko Petroleum Corp for $8.8 billion, should the two U.S. oil and gas companies clinch a deal to combine.The agreement with Total…

Current News

Saudi Aramco Pursues IPO Planning Despite Attack

Saudi Aramco Pursues IPO Planning Despite Attack

Middle East Risks Keep Oil Prices High

Middle East Risks Keep Oil Prices High

Transborders Joins Forces with Osaka Gas

Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

Oil Price Spike after Saudi Attack Temporary

Oil Price Spike after Saudi Attack Temporary

CannSeal Debuts Mobile Mixer Technology

CannSeal Debuts Mobile Mixer Technology

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