Exxon

Against the odds: Ocean freight randomness – the skeleton in the closet

If you aren’t familiar with the screen grab below – highlighted in red: a suggested average freight rate formula – well, you ought to be.
(Please click to expand and read on; it’s more intuitive than you may think)
Perhaps…
The model can be embellished and simplified and yet it may not be the finished product, as the authors hinted at the time of publishing, but was part of a comprehensive and …

The post Against the odds: Ocean freight randomness – the skeleton in the closet appeared first on The...

https://theloadstar.com/against-the-odds-ocean-freight-randomness-the-skeleton-in-the-closet/

Oil Major Chevron Cuts Capital Spending Amid COVID19 Crisis

  • COVID-19’s seismic effect on the fortunes of tanker owners is beginning to become clearer.
  • Chevron Corporation is reducing its capital and exploratory budget for the next five years by billions of U.S. dollars compared to previous guidance.
  • Chevron said it would spend $14 billion next year and no more than $16 billion a year through 2025.
  • It previously said it would spend $19 billion to $22 billion a year through 2024 before the pandemic.

Chevron Corp. is cutting its annual capital spending...

https://mfame.guru/oil-major-chevron-cuts-capital-spending-amid-covid19-crisis/

Pandemic-Driven Oil Demand Slump Incurs Major Q2 Losses

  • Wall Street expected Exxon Mobil Corp. and Chevron Corp. earnings to be bad, but not this bad.
  • America’s biggest energy companies delivered their worst set of quarterly results of the modern era.
  • The losses are weighed down by the slump in oil prices and the global collapse in demand due to COVID-19.

Exxon Mobil Corporation and Chevron Corporation posted the worst losses in a generation after the pandemic and a global crude glut combined to batter almost every part of their businesses, reports...

https://mfame.guru/pandemic-driven-oil-demand-slump-incurs-major-q2-losses/

Γουιάνα: Με το βλέμμα στραμμένο στο ενεργειακό μέλλον της

Το Liza Unity, η υπό κατασκευή παράκτια πλατφόρμα – FPSO, θα παραγάγει για πρώτη φορά πετρέλαιο το 2022, σύμφωνα με ανακοίνωση της Hess Corp. Η Γουιάνα παρήγαγε για πρώτη φορά πετρέλαιο τον Δεκέμβριο του 2019, όταν η Exxon έθεσε σε λειτουργία την πλωτή μονάδα Liza Destiny.

Η Hess Corp. ανακοίνωσε ότι το Liza Destiny θα έχει μέγιστη παραγωγική ικανότητα 120.000 χύδην βαρελιών πετρελαίου την ημέρα από τον Ιούνιο.

Όσο για τη δεύτερη φάση της πετρελαιοπαραγωγής στο οικόπεδο Stabroek , αυτή θα...

https://www.naftikachronika.gr/2020/05/24/gouiana-me-to-vlemma-strammeno-sto-energeiako-mellon-tis/

High Profile Fixtures & Low Africa Charters Lead To Tanker Earning Collapse

Rates for the largest crude tankers have tumbled, snapping a run of stratospheric gains over the past three weeks as some of the highest-profile fixtures failed for vessels chartered at rates exceeding $300,000 per day, reports Lloyd’s List.

What’s the scenario?

Earnings for very large crude carriers on routes to Asia from the Middle East Gulf plunged the most, Baltic Exchange data showed.

  • The daily rate for Saudi Arabia-Singapore oil shipments declined by nearly $90,000, retreating to more than...

http://mfame.guru/high-profile-fixtures-low-africa-charters-lead-to-tanker-earning-collapse/

Technical Update – Handling VLSFO (0.5% Sulfur fuel) – First Advisory

TECHNICAL UPDATE: 2019/03/05
Handling VLSFO (0.5% Sulfur fuel) – First Advisory. More will follow

Viswa Lab has been testing numerous fuel blends called ‘Very Low Sulfur Fuel Oils’ (VLSFO) that are being introduced into the market to meet the IMO 2020 0.50% sulfur requirements. It is to be noted that these fuels are blends of several streams and the quality is dependent on various factors.

Ahead of this, various organizations (such as IMO, IBIA, MAN B&W) and suppliers (such as Exxon, BP, Shell)...

http://mfame.guru/technical-update-handling-vlsfo-0-5-sulfur-fuel-first-advisory/