Oil Bulls Run Free On Fears of OPEC Production Cuts
WTI jumped higher in the US session, setting new 2019 highs, strengthened by fears of OPEC led supply cuts. Also, oil prices may have gotten a further boost, as political instability rises in Nigeria and Venezuela and at the same time US sanctions against Iran continue to trim the oil…
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FebNational Oil Corporation of Libya signs with Fluid Oil MOU
National Petroleum Corporation and Fluid Oil signed a memorandum of understanding to study technology for the development of the Haram field for heavy oil. The National Oil Corporation (NOC) and Fluid Oil Co. Ltd. are pleased to announce the signing of a Memorandum of Understanding (MOU) to conduct a study…
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FebClock is ticking towards sulphur cap, IMO head warns
THE next 10 months will be crucial for the implementation of the 2020 sulphur cap, International Maritime Organization Secretary-general Kitack Lim has warned. Speaking to delegates attending the IMO sub-committee on pollution prevention and response meeting in London, Mr. Lim emphasised the significance of concluding outstanding work on the implementation…
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FebSanctions on Venezuela start to bite
VENEZUELAN tanker demand took a downward trajectory this month as Washington announced tough sanctions against Petroleos de Venezuela SA, known as PDVSA, mainly designed to halt US imports of Venezuelan crude. The government stopped short of placing an outright ban, instead, US entities could theoretically continue purchases of Venezuelan crude…
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FebSanctioned Venezuelan crude starts flowing into US
A TANKER laden with US-bound Venezuela crude has discharged its cargo at Citgo’s terminal at Corpus Christi, suggesting it may be the first to deposit funds to an account for use by any interim Venezuelan government after the imposition of new US government sanctions. The Eagle Sapporo, an aframax tanker…
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