For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment.The amount of…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
OPEC cuts expected to remain despite Trump pressure. Separately, oil supported by unexpected drop in U.S. inventories.Oil rallied for a second day on Wednesday, buoyed by an unexpected decline in U.S. crude inventories and after Saudi Arabia appeared undaunted by pressure from U…
Repsol signs supply deal for Brittany Ferries' new LNG ship* Spanish energy company Repsol has signed an agreement with Brittany Ferries to deliver liquefied natural gas (LNG) to its Spanish operations, it said on Friday.* Under the agreement…
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…
Japan's largest oil and gas exploration and production company INPEX Corporation has installed ClassNK-NAPA GREEN for monitoring operations on three of its liquefied natural gas (LNG) carriers.NAPA said that Inpex awarded a deal to the company…
Japanese logistics giant Mitsui O.S.K. Lines (MOL) and French multinational integrated oil and gas company Total S.A. signed an agreement which will make travelling across Europe easier for their corporate customers.The agreement provides for…
U.S. refiner Phillips 66 reported a more than four-fold surge in fourth-quarter adjusted profit on Friday, helped by low crude prices that boosted refining margins.On an adjusted basis, net income rose to $2.26 billion, or $4.87 per share, in the quarter…
API reports increase in U.S. crude stocks; Venezuela sanctions yet to spark rally but still supportive.Oil fell below $62 a barrel on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 because of OPEC-led supply cuts and U…
Leonid Mikhelson, the head of Russia's Novatek said on Friday that liquefied natural gas (LNG) from the United States as its chief threat, Interfax news agency reported.He said, according to Interfax, that LNG production in the U.S. enjoys cheap financing…
The eastern Libyan oil ports of Es Sider and Brega have been closed due to bad weather but crude production has not been affected, an official from state oil firm NOC said.Storage capacity is sufficient for a few days and the remaining ports were open…
China's imports of liquefied natural gas (LNG) in December soared 25 percent from the same period a year earlier to a monthly record of 6.29 million tonnes, customs data showed on Wednesday.The previous record of 5.99 million tonnes was set in November…
The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry…
The logistics and service provider to the offshore energy industry Peterson UK Limited has concluded a new long-term agreement with Associated British Ports Holdings (ABP) to establish a new operational and logistics base to the Port of Lowestoft…
Oil rose to above $57 a barrel on Friday after China said it would hold trade talks with the United States and a survey showed China's services sector expanded in December, while signs of lower crude supply also lent support.The Organization…
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