By Tyler Losier, Energy Reporter, Oil & Gas 360 UAE denies ownership of the Panama-flagged vessel, which has been missing for two days The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vaca Muerta production growth leads to LNG exports In the past few years, Argentina’s natural gas production has been steadily rising, mainly due to an increased focus on the Vaca Mueta shale and tight gas play, located in the Neuquén Basin. Currently, production from the Vaca Muerta accounts for 23% of
By Tyler Losier, Energy Reporter, Oil & Gas 360 Supply deficit quickly flipped to surplus: International Energy Agency data now shows 500,000 barrel per day global surplus for Q2 2019 Despite the OPEC+ supply cuts agreed upon earlier this month, a slowdown of the global economy is dampening oil demand, leading to a larger-than-expected surplus in crude reserves. According to
From The Houston Chronicle Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of operating in the region. Strikes on tankers just outside the Persian Gulf in mid-June were the second in a month
From Reuters India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said on Friday. “The price offered was very competitive,” Venkatesh said. The state-run refiner placed an order to buy 1 million barrels of the sour oil, he said.
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vessel suspected of carrying Iranian oil to Syria in violation of EU sanctions An Iranian supertanker carrying oil allegedly bound for Syria was detained in Gibraltar by British Royal Marines this Thursday for violating sanctions put in place by the European Union, further straining the already tense relationship between and Tehran
From Bloomberg Kudlow says Lighthizer, Mnuchin, Liu have been in contact, Beijing says existing duties must be removed to reach a deal The Trump administration said trade talks with China are starting up again as Beijing reiterated that it’s essential the U.S. removes all existing tariffs for a deal to be reached. President Donald Trump and Chinese President Xi Jinping
From Reuters VIENNA — Venezuela will stick to its plan of blending domestic and foreign crude to maintain and even increase oil production and exports in the face of sanctions prohibiting U.S. companies from buying the country’s oil, oil minister Manuel Quevedo said on Tuesday. State-run oil company PDVSA in June began tests to focus exports almost entirely on the
Boeing-Airbus subsidy dispute heats up From the AJOT The U.S. added new products from the European Union to potentially target with retaliatory tariffs in a long-running trans-Atlantic subsidy dispute between Boeing Co. and Airbus SE. The U.S. Trade Representative’s office on Monday published a list of $4 billion worth of EU goods they could hit with duties as retaliation for
Will strengthen ties with foreign telecommunication service providers From Asia Times China Unicom, one of the three telecom giants in China, will push forward with the construction of 5G telecommunication infrastructure globally, particularly in Belt and Road countries, according to the company’s leader. As the first Chinese telco that went through mixed ownership reform, China Unicom will promote its “Five New”
From the Washington Examiner Mexico’s Senate voted overwhelmingly in favor of approving the U.S.-Mexico-Canada Agreement on trade, a deal that would replace the North American Free Trade Agreement. The measure passed with a 114-4 vote, bringing the agreement one step closer to fruition. Mexican President Andrés Manuel López Obrador convened a special legislative session to hold the vote after the Senate
From CNBC Crude futures have turned a 45% price rally in the first four months of 2019 into a fall of more than 15% since the start of April. “Now we are starting to see that confidence in demand is taking over and that is the main driving factor behind the current state of the oil market,” Neil Atkinson, head of
