The United Nations on Thursday fell far short of raising the money it needs for an operation to salvage 1.1 million barrels of oil from a decaying vessel moored off Yemen's coast and avert an environmental disaster.U.N. officials have been warning for years that the Red Sea and Yemen's coastline was at risk as the Safer tanker could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska…
Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates.Brent futures fell 90 cents…
U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.Crude inventories rose by 545,000 barrels to 430…
The Energy Workforce & Technology Council has signaled its support for the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY).The two lawmakers…
Gall Thomson has revealed there were 16 known activations of its Marine Breakaway Couplings during 2023. The activations occurred in nine different countries around the world.On each occasion, the Marine Breakaway Coupling (MBC) operated exactly as expected…
Oil rose on Tuesday as an attack by the Iran-aligned Houthis on a chemical tanker escalated geopolitical tension in the Middle East, though concerns over excess supply and slowing demand kept a lid on gains.A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker…
Vitol, the world's largest independent oil trader, has provisionally chartered a supertanker to load oil from Venezuela for China, according to two shipbrokers and data from shiptracking firms Kpler and Vortexa.The Very Large Crude Carrier Gustavia S…
Venezuela's state-run oil company PDVSA is offering to sell up to 1 million barrels of Corocoro crude through an intermediary, sources said on Wednesday, which could become the first sale of that grade in two years.Since Washington temporarily eased oil sanctions on the country last month…
Italian prosecutors have requested a former senior Eni employee, the now chief of a UK oil firm, and others be sent to trial for allegedly defrauding Eni over the attempted sale of an oil cargo to the company, a document from the Milan prosecutor's office shows…
Shuttle tanker owner KNOT Offshore Partners will appoint Derek Lowe as new Chief Executive Officer and Chief Financial Officer with effect from the week of September 11, 2023.The new appointment comes following the decision of Gary Chapman to…
U.S. and Canadian refiners have turned to North Sea 'Forties' crude oil for the first time in seven years in the latest sign of changing global oil flows from Russia's invasion of Ukraine. Nearly 2.6 million barrels of the crude are set to arrive at U…
Belgian oil tanker and storage operator Euronav said on Thursday its shareholders had elected John Fredriksen from Frontline, a major investor that pulled out of a merger deal with Euronav this year, to its supervisory board. Euronav said shareholders…
Oil and gas company Valeura Energy said Monday that modifications to the MT Jaka Tarub crude oil storage vessel were complete, making the vessel compatible with infrastructure at its Wassana oil field, offshore Thailand.According to Valeura Energy…
The U.S. government is not planning a systematic easing of sanctions on Venezuela after an initial round allowed partners of state-run oil firm PDVSA to resume taking oil for past debts, a State Department official said.In November, Washington issued a six-month license allowing Chevron Corp…
Venezuela's PDVSA has allocated an oil cargo to a unit of Eni for a February loading, the first to the Italian firm following a contract suspension this year by new management at the state-run company, people familiar with the matter said. Eni…
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