News

Government regulators are finalizing safety rules for offshore drilling put in place after the BP oil spill. The Interior Department put

Refiners’ profits from producing naphtha in Asia rose to the highest level in more than three months. Losses from making fuel oil widened.

State-owned oil firms are losing Rs 450 crore per day on sale of diesel and cooking fuels as fall in rupee and rise in international oil prices has widened fuel losses.

Pakistan State Oil Co. (PSO) is seeking to buy as much as 1.31 million metric tons of gasoline, gasoil and fuel oil for delivery from September to December

North Dakota's oil production averaged 660 thousand barrels per day (bbl/d) in June 2012, up 3% from the previous month and 71% over June 2011 volumes.

Gasoil timespreads continued to firm in brisk trade on Thursday due to tight physical supply, with some players seen taking long positions in the London Gasoil

OPEC has delayed a meeting of officials to help select its new secretary general, delegates from the oil producers' group

The Iraqi government said it would cut ties with any oil company that is taking action that runs counter to national laws, an official said.

The BP-led Azerbaijan International Operating Company (AIOC) cut its oil output by 11.6 percent in the first six months of 2012 to a 5-year low reflecting work being done to help extend the lifespan of the oilfields.

Fednav Limited, the largest international maritime bulk carrier in Canada, today announced the addition of six new vessels to its fleet.

Rosneft has begun exploration work at the East Prinovozemelsky 1 and 2 license blocks in the Kara Sea. Geological

As the demand for ship supply services off Sri Lanka grows, so too has GAC Sri Lanka. The company has moved into new, bigger premises at Galle

With the Philippine Senate’s ratification of the Maritime Labour Convention (MLC), 2006 on August 13 the Philippines, together

Sulphur dioxide emissions from shipping have sharply decreased in EU ports thanks to stricter EU rules for sulphur content in fuels used by ships at berth or at anchor in ports.

In response to increasing market demand for feeder space, Evergreen Line will commence the new Straits-Yangon (Myanmar) service (referred to as SYS) from late August.

On Wednesday, 15 August 2012, Hamburg Süd celebrated the christening of its container ship "Santa Barbara" at the Yantian International Container Terminal (YICT) in Shenzhen

HIGHLIGHTS Knightsbridge reports a net loss of $3.3 million and a loss per share of $0.13 for the second quarter of 2012.

Iraq's Oil Ministry has signed a contract with Kuwait Energy to carry out a seismic survey in Basrah gas field. The Kuwaiti company and Turkish company T.B.A.O

Canada's Connacher Oil and Gas Ltd is to sell its Montana refinery to U.S.-based Calumet Specialty Products Partners for about $120 million, plus working capital.

Pemex said it did not expect production to be disrupted after it put out a fire overnight at its Madero refinery in northern Mexico as well as another blaze at a pipeline in the center of the country.