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Oil News

Greenpeace UK Fined $100,000 Over Oil Rig ProtestsGreenpeace UK Fined $100,000 Over Oil Rig ProtestsScotland's highest court has fined Greenpeace UK $100,000 for interfering with the operations of the Transocean floater Paul B. Loyd Jr. in the UK North Sea in June 2019.06 July 2020 Monday 10:02
Exiting the mother of oil surpluses and floating storageExiting the mother of oil surpluses and floating storageInvestment bankers BTIG hosted Rystad Energy for an online update on the oil markets with Artyom Tchen, a senior analyst with Rystad in a presentation entitled ‘Irrational exuberance or fundamental recovery?’01 July 2020 Wednesday 11:00
Top Oil Pricing Agencies Launch New U.S. Crude BenchmarksTop Oil Pricing Agencies Launch New U.S. Crude BenchmarksAfter U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies27 June 2020 Saturday 11:45
BP Lowers Oil Price Forecast, Announces $13-17B WritedownBP Lowers Oil Price Forecast, Announces $13-17B WritedownBP has reduced its expectations for the average price of energy over the next three decades, cutting its long-term forecast for Brent by 27 percent and for Henry Hub gas pricing by 31 percent compared with its previous baseline prediction.16 June 2020 Tuesday 09:50
Aker Solutions to deliver umbilicals for Murphy’s Gulf of Mexico projectAker Solutions to deliver umbilicals for Murphy’s Gulf of Mexico projectAker Solutions has been awarded a contract from Subsea 7 to deliver umbilicals for Murphy Oil’s King’s Quay development in the U.S. Gulf of Mexico.10 June 2020 Wednesday 17:10
Uncertainty About OPEC+ Cuts Has Oil Struggling to Sustain RallyUncertainty About OPEC+ Cuts Has Oil Struggling to Sustain RallyOPEC+ and its allies will decide as soon as this week whether or not to extend their historic output curbs.02 June 2020 Tuesday 10:41
Oil Tankers Queuing Off Chinese Coast Evidence of Rapid ReboundOil Tankers Queuing Off Chinese Coast Evidence of Rapid ReboundQueues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand.02 June 2020 Tuesday 10:12
Over 2mn tons of non-oil goods exported from Shahid Rajaee Port in two monthsOver 2mn tons of non-oil goods exported from Shahid Rajaee Port in two monthsMore than two million tons of non-oil products and commodities were exported from Iran’s largest port, Shahid Rajaee, in the first two months of the current year [from March 21 to May 20].01 June 2020 Monday 11:17
Flurry of U.S. Crude Export Fixtures Signals Demand RecoveryFlurry of U.S. Crude Export Fixtures Signals Demand RecoveryA flurry of tentative bookings to export U.S. crude oil from the Gulf Coast suggests demand is edging up after the coronavirus slammed energy consumption worldwide.29 May 2020 Friday 09:45
Prosafe dives deeper into the red over impairment chargesProsafe dives deeper into the red over impairment chargesProsafe, a provider of offshore accommodation rigs, sank deeper into the red in the first quarter of 2020 due to impairment charges resulting from the oil price collapse and the coronavirus pandemic.26 May 2020 Tuesday 16:10
Oil Rally Continues as Output Cuts Hit Supply GlutOil Rally Continues as Output Cuts Hit Supply GlutOil posted its longest streak of gains in more than a year, buoyed by output cuts across the globe that have whittled away at a stubborn supply glut.22 May 2020 Friday 12:02
Alaskan, Canadian Crude Sent to China as Demand RecoversAlaskan, Canadian Crude Sent to China as Demand RecoversCanadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels.21 May 2020 Thursday 15:19
Tanker Movements Reveal China’s Splurge on Cheap CrudeTanker Movements Reveal China’s Splurge on Cheap CrudeChinese oil traders know bargain crude prices when they see them.That, at least, is one conclusion from the movements of the world’s supertankers.15 May 2020 Friday 15:19
Small Irish Terminal Draws U.S. Oil With Global Storage FillingSmall Irish Terminal Draws U.S. Oil With Global Storage FillingA cluster of ships with American oil has been heading to a small terminal in southern Ireland as buyers search for places to store crude in the wake of a global demand slowdown.15 May 2020 Friday 11:00
Petrobras hits two new oil discoveries offshore BrazilPetrobras hits two new oil discoveries offshore BrazilOil giant Petrobras has made two new oil discoveries in Brazilian offshore waters.12 May 2020 Tuesday 10:55
Explosions and major fire on Aframax crude oil tanker, IndonesiaExplosions and major fire on Aframax crude oil tanker, IndonesiaTanker is drydocked at shipyard Belawan, Medan, Malacca Strait, northern Sumatra, Indonesia, several workers said to suffer burns, they were hospitalized.11 May 2020 Monday 09:58
Tankers Round the Cape as Glut Snarls PortsTankers Round the Cape as Glut Snarls PortsWhen the supertanker New Vigorous arrived at the port of Antifer in northern France last Saturday, it made a small bit of maritime history.08 May 2020 Friday 11:20
Global Oil Demand Starts a Long, Painful and Uncertain RecoveryGlobal Oil Demand Starts a Long, Painful and Uncertain RecoveryFew have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America.05 May 2020 Tuesday 13:22
Maersk Drilling Announces North Sea LayoffsMaersk Drilling Announces North Sea LayoffsMaersk Drilling says it is taking steps to reduce its offshore crew pool as it stacks North Sea rigs in light of the COVID-19 pandemic and crash in oil prices.30 April 2020 Thursday 16:44
UK unions call on gov’t to halt ‘carnage’ of oil & gas jobsUK unions call on gov’t to halt ‘carnage’ of oil & gas jobsOil and gas workers’ unions in the UK have launched a campaign to protect the jobs in the sector and secure its future, calling for a halt to the “carnage” of jobs.28 April 2020 Tuesday 16:54
27 oil tankers with nowhere to unload parked off Californian coast27 oil tankers with nowhere to unload parked off Californian coastThere are 27 oil tanker vessels with more than 20 million barrels of crude anchored off the coast of Southern California, waiting to offload their cargoes as coronavirus pandemic shatters demand for oil.24 April 2020 Friday 12:34
Saudi Arabia May Re-Route Tankers if U.S. Imposes Crude Import BanSaudi Arabia May Re-Route Tankers if U.S. Imposes Crude Import BanSaudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.23 April 2020 Thursday 17:40
Floating Oil Storage Grows Off California CoastFloating Oil Storage Grows Off California CoastOil tankers carrying enough crude to satisfy 20% of the world’s consumption are gathered off California’s coast with nowhere to go as fuel demand collapses.22 April 2020 Wednesday 16:06
Offshore Driller Valaris to Explore Bankruptcy with Creditors -SourcesOffshore Driller Valaris to Explore Bankruptcy with Creditors -SourcesOffshore oil driller Valaris PLC is preparing to start talks with creditors to see if they can agree on terms for a possible bankruptcy filing, as it grapples with a $6.5 billion debt burden .22 April 2020 Wednesday 15:13
Oil Meltdown Widens With June Plunging Below $10 a BarrelOil Meltdown Widens With June Plunging Below $10 a BarrelOil’s meltdown spread in to the June contract as the price plummeted $10 in New York.22 April 2020 Wednesday 10:01
Osprey orders two new bargesOsprey orders two new bargesOsprey, a UK heavy transport and offshore energy logistics company, will add two new flat-top barges to its fleet.21 April 2020 Tuesday 15:45
Delonex Energy boss named as new Tullow Oil CEODelonex Energy boss named as new Tullow Oil CEOOil and gas company Tullow Oil has appointed a new chief executive officer (CEO) and executive director of the company.21 April 2020 Tuesday 11:20
Oil prices plunge below zero, sending stocks lowerOil prices plunge below zero, sending stocks lowerOil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.20 April 2020 Monday 22:24
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