West Texas Intermediate slipped 0.6% following a 2.1% decline on Wednesday, when U.S. government data showed the first increase in crude stockpiles in a month. In India, coronavirus cases have topped 300,000 a day, the biggest jump globally, endangering consumption. SourceContinue Reading
McDermott International, Ltd announced that its CBandI Storage Solutions business has been awarded a contract by Atlantic Gulf and Pacific Company of Manila Inc. (AGandP) for the engineering, procurement and construction of an LNG storage tank for AGandP’s Philippines LNG import and regasification terminal, currently under construction in Batangas, Philippines. SourceContinue Reading
“If nothing extraordinary happens, we have already formed our three-month plans,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday, “Our task will be to look at these plans and maybe confirm or adjust them – yet most likely, this is the meeting to assess the current situation,” he said. SourceContinue Reading
“I expect international activity growth to accelerate, and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year,” CEO Jeff Miller said in a statement. “I am optimistic about how this transition year is shaping up.” SourceContinue Reading
Abu Dhabi is weighing the sale of a stake in its biggest utility as the oil-rich emirate seeks more international investment in its marquee assets, people familiar with the matter said. SourceContinue Reading
Mozambican businesses looking to cash in on Africa’s biggest private investment are facing disaster after an attack by Islamic State-linked militants on a town close to Total SE’s $20 billion natural gas export project. SourceContinue Reading
In what would be the world’s biggest carbon carbon and sequestration project, Exxon, along with a multitude of private and public partners, would build a facility to collect emissions from refineries, petrochemical plants and other industrial facilities along the Houston Ship Channel, Joe Blommaert, president of Exxon’s new low-carbon business said in a blog post....Continue Reading
Demand for crude will increase by 7 million to 8 million barrels a day by the end of 2022, up from current levels, and producers will be stretched to meet that surge, Vitol Chief Executive Officer Russell Hardy said in an interview. SourceContinue Reading
The contract is expected to commence in the first half of 2022, with a firm duration of 110 days. The value of the firm contract is approximately USD 34m, including rig modifications and a mobilization fee. SourceContinue Reading
Oil’s forward curve suggests growing confidence, with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month. Yet there are still reasons to be cautious, with India suffering a fresh wave of coronavirus infections and refiners there starting to curb processing. SourceContinue Reading
