News

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced yesterday its unaudited financial results for the three- and six-months periods ended June

With international pressure mounting on India to reduce its dependency on Iranian crude, the developing nation has to look further afield to source this valuable feedstock for its expanding refinery capacity.

Israel, reliant on imported energy since the state’s foundation in 1948, now has more natural gas than it can handle.

GDF SUEZ has signed a second medium term agreement with Korea Gas Corporation (KOGAS), the South Korean public natural gas company.

Real estate and investment firms are bidding alongside energy companies for slots at the starting line as China readies for the second heat of a shale-gas race.

Crude oil appears to turn bearish after a rally last weekend pushed US WTI Crude oil 4.9% higher on August 3. Analysts expect crude oil to face stiff resistanc at $93 levels and has retraced to $90 levels in Asian trading on Monday.

Indonesian Ambassador to Tehran Dian Wirengjurit said in Tehran on Monday that his country will continue buying Iranian oil and disregard unilateral sanctions against the Islamic Republic.

The Sultanate’s total production of crude oil and condensates declined 2.44 per cent to 27,925,767 barrels, or 900,831 barrels per day during the month ended July 31, 2012, compared to the previous month

Oil hovered above $92 a barrel Tuesday in Asia as analysts estimated that supplies of U.S. crude and gasoline likely fell last week.

The Saudi Ports Authority (SPA) signed a number of contracts worth SR 615 million (US$164m) for the development of King

Saab announces the successful implementation of National Automatic Identification System (NAIS) on the Indian coast line for India’s Directorate

McDermott International, Inc. announced yesterday that one of its subsidiaries has been awarded a contract by Williams Partners L.P.

KBR announced yesterday that it has been awarded a FEED contract to perform work for the topsides and hull associated with a new-build,

China’s largest submersible-support vessel has been delivered and put into service in Qingdao, Shandong province, marking a breakthrough in the development of the country’s deep-water salvage force.

Prosafe Rigs Pte Ltd, a wholly owned subsidiary of Prosafe SE (“Prosafe”), has today entered into an agreement to sell the accommodation jack-up Safe Esbjerg to a buyer in South East Asia.

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Fernvale Pte. Ltd., has firmed up contracts with Sete

United Shipbuilding Corporation, its subsidiary Baltiysky Zavod JSC (Baltic Shipyard), has won the contract worth $1.6 Bln for the construction of icebreaker LK-60 of 22220 Project with the capacity of 60 MW.

Omega Navigation Enterprises Inc. (OTC US - ONAVQ) announced that, in connection with its Chapter 11 proceedings in Houston, Texas, Omega has filed a Chapter 11 Disclosure Statement and proposed Plan

This week saw two of the New York listed tanker companies releasing (among others) their half year results. Together with those they gave out their outlook on the future of the oil and tanker markets.

U.S. refiners are getting high prices for their gasoline and diesel while paying less for the crude and natural gas needed to make it.