IMO 2020 brings cheer to product tanker market.
THE International Maritime Organization’s new bunker rules will create incremental demand for product tankers “With potentially 1-2m bpd of incremental product tanker demand paired with higher crack spreads and enhanced arbitrage trading activity, we believe things could get very frothy for the product tanker market. Eventually, there is a strong…
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MarRas Lanuf port ready to operate
Ras Lanuf Oil and Gas Processing Company (RASCO), a wholly owned subsidiary of Libya’s National Oil Corporation (NOC), announced yesterday that its port is now ready to operate after maintenance was completed. The company thanked its Libyan workforce who were able to prepare the port to receive ships and tankers…
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MarLibya oil boss sees output gain with hope of BP pumping soon
Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping oil in the politically divided OPEC nation. The Sharara field in southern Libya is currently pumping 280,000 bopd, and the state-run…
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MarThe oil price is caught in a tug of war between the bulls and the bears
Oil is caught in a tug of war between the bulls and the bears due to lack of a strong direction and market developments that offset each other.. A few days before the development in Libya, however, crude oil rose on news that a production terminal in Nigeria had shut…
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MarGerman companies express interest in Libyan oil and gas sector.
German companies expressed their desire to return and invest in Libya, and specifically in the oil and gas sector, Libya’s National Oil Corporation (NOC) reported. The German expression of interest was made during the Libyan-German Economic Forum held on 8 March in Tunis. The event was attended by NOC Chairman…
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