crude oil production

North Sea Oil Drone Threat Prophesied in the Middle East

Until now, the waters of the North Sea have been considered one of the world’s safest offshore basins for crude oil production. Equinor, Total Energies and ConocoPhillips have all raised the level of security around their facilities in the region after drones were seen near the rigs, reports Platts.

The recent history of drone attacks on oil installations in the Middle East offers a disturbing precedent for the effectiveness of these military devices in targeting energy infrastructure, and...

https://mfame.guru/north-sea-oil-drone-threat-prophesied-in-the-middle-east/

OPEC+ deal shocker will prolong bloodletting for crude tankers

OPEC decision bad for tankers

The day before the surprise OPEC+ crude-production decision, Lars Barstad, interim CEO of tanker owner Frontline (NYSE: FRO), pointed to estimates that up to 1.5 million barrels per day (b/d) of output might return. If so, that could lead tanker markets “to tighten up quickly” and “be a trigger to sentiment … and give owners the gumption to say, ‘Rates are negative so I’m going to hold back.’”

Barstad was addressing the virtual Annual Capital Link International Shipping Forum, along with other...

https://www.freightwaves.com/news/opec-deal-shocker-will-prolong-crude-tanker-bloodletting

Today’s Pickup: U.S. factories in limbo as Mexican production plants remain shut

U.S. factories in limbo as Mexican production plants remain shut (Photo: Shutterstock)

Good day,

The U.S. companies that are resuming production after roughly a month of lockdown are now contending with a shortage of parts supply from Mexico. This is because production plants across Mexico remain widely shut due to the pandemic. Mexico is the largest trading partner of the U.S. as of last year, and the country is a major exporter of auto parts to the U.S. 

The turn of events has put U.S. manufacturers in a spot because they cannot resume operations if their Mexican suppliers remain...

https://www.freightwaves.com/news/todays-pickup:-us-factories-in-limbo-as-mexican-production-plants-remain-shut