One barrel (159 liters) of OPEC crude stood at $97.68 Thursday, compared with $98.88 on the previous day. OPEC calculates an average basket price based on 13 important brands produced by cartel members.
- 37% of all boxes are rolled over
- Singapore to vaccinate over 10,000 frontline maritime workers by end of month
- Frank Coles, CEO of Wallem Group, resigns
- Pavimar grows fleet to 12 with capesize acquisition
- Pacific Drilling seals new drillship contract with Petronas
- US imposes further sanctions on Iranian shipping entities
- Dana Petroleum terminates Maersk Drilling contract
- Iran Fires Long-Range Anti-Ship Missiles Into Indian Ocean
- Introducing the top EPC company (IOEC)
- DNV GL Dropping the ‘GL’ Amid Corporate Rebranding
- KSOE wins order for VLCC pair
- Beirut Blast: Interpol Red Notice Issued For Ship Captain & Owner
- Turkey imposes harsher maritime pollution fines
- MSC joins the Hydrogen Council to help accelerate shipping's decarbonization
- Shell to cut 330 offshore jobs from North Sea
Easing oil prices
The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) lost another $1.20 Thursday, OPEC said Friday.
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Opinion: Was 2020 Really So Bad for Oil?f ever a year needed a shot of glass-half-full attitude, it’s 2020. I got it recently from an oil executive. Conversation turned inevitably to the pandemic and 10 million barrels a day of oil consumption — one in ten — going *poof*.
U.S. Blacklists More Companies Over Iranian Petrochemical Exports“The United States will act against persons who support illicit actors engaged in the movement of Iranian petroleum and petrochemical sales,” Treasury Secretary Steven Mnuchin said in the statement.
UAE announces discovery of new oil reservesAn estimated 22 billion barrels of non-conventional and recoverable crude was recently discovered in Abu Dhabi, the capital of the United Arab Emirates (UAE).
India kicks off 1000 LNG stations developmentIndia’s minister of petroleum and natural gas and steel, Dharmendra Pradhan laid the foundation stone for 50 LNG fueling stations.
Venezuela Oil Exports Fall to New Lows as Clients Wind DownVenezuela’s oil exports fell to a historic low of 359,000 barrels per day (bpd) in October as most of state-run PDVSA’s long-term clients paused trade to meet a U.S. deadline to halt business with the firm, according to data seen by Reuters on Monday.
- Philippine Coast Guard Takes Possession Of “Gabriela Silang”
- Carnival Cruise Line Names Newest Vista-Class Ship
- Simorgh drone joining Iran’s Navy