Canadian crude plunged to a record low relative to U.S. crude, hurt by reduced capacity at American refineries and a jump in production from new oil-sands megaprojects that has overwhelmed the nation’s pipeline system. Maintenance work at U.S. refineries over the next six months will lead to...
https://www.hellenicshippingnews.com/canadian-crude-hits-record-low-as-pipeline-space-runs-out/
The oil price remains on a recovery track and will increase gradually next year based on its climb so far this year. However, local oil and gas (O&G) players should be cautious about ramping up upstream activities. Malaysian Petroleum Resources Corp deputy chief executive officer Mohd Yazid Ja’afar...
https://www.hellenicshippingnews.com/oil-price-set-to-rise-gradually-next-year/
Libya has brought oil production to 1.25 mln barrels per day, plans further growth, Mustafa Sanalla, CEO of the National Oil Corporation of Libya, told reporters on the sidelines of the Russian Energy Week. “Our current production is 1.25 million barrels (per day). We have ambitions to increase it...
https://www.hellenicshippingnews.com/libya-has-brought-oil-production-to-1-25-mln-barrels-per-day/
Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand. But the imminent return of U.S. sanctions on Iran and bottlenecks...
https://www.hellenicshippingnews.com/traders-bet-on-oil-at-100-as-iran-sanctions-loom/
Russian Energy Minister Alexander Novak does not rule out global oil prices reaching $100 per barrel, he told the Business FM radio station. Novak added that Russia and Iran were still considering how to make payments to one another in their national currencies in the face of upcoming U.S....
Carbon Dioxide is one of the most harmful global warming gases due to the amounts released and its lifetime in the atmosphere. CO2 main sources are derived from Fossil Fuels burnt for electricity, transportation, industrial activity and household uses. Since the Industrial Revolution, there was a...
https://www.hellenicshippingnews.com/co2-emissions-society-real-problem/
Saint Petersburg International Mercantile Exchange (SPIMEX) and S&P Global Platts, a division of S&P Global, today announced that they have signed a memorandum of understanding (MoU) at the Russian Energy Week 2018, held in Moscow. Under its terms, the parties agree to work on the development of...
Port charges for handling coal shipments have gone up by more than 40 per cent after the Supreme Court banned its unloading at six berths operated by the Karachi Port Trust (KPT), according to coal importers. In view of citizens’ concerns about pollution, the apex court decided in June that all...
In a press release dated 28 September 2018, ClassNK advises existing ships to install ballast water management (BWM) systems early on. An analysis of the retrofitting status of its registered ships confirms that, as of the end of August 2018: -a total of 7,315 ships in ClassNK’s register are...
https://www.hellenicshippingnews.com/do-not-wait-too-long-before-installing-bwm-systems/
The modernisation of Indian ports and liberalisation of regulations could threaten the container transhipment business of Sri Lanka’s Colombo port, according to speakers at maritime industry forums this week. “India used to depend on Sri Lanka for their transhipment cargo but gradual improvements...