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Asia Distillates-Jet cracks post weekly drop, China virus likely to curb holiday travel

Asian jet fuel refining margins rose on Friday but posted a third straight weekly decline amid weak buying interest, while traders were concerned seasonal aviation demand during the Lunar New Year holiday would be...

U.S. crude oil production efficiency continues year-over-year improvements

Source: U.S. Energy Information Administration, Drilling Productivity Report (DPR) U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production. This share grew because of the increasing productivity of new wells...

Saudi Arabia says all options open at OPEC+ meeting, including further cuts

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud said all options are open at an OPEC+ meeting in early March, including further cuts in oil production, Al Arabiya television reported. But he added...

Norwegian energy major Equinor to run ship fitted with ammonia fuel cells

The European Union has awarded 10 million euros ($11.05 million) in funding to a scheme that is aiming to install an ammonia-powered fuel cell on a ship. The beneficiary of the money, the ShipFC project,...
novatek

Novatek to Launch Fourth Train of Yamal LNG Plant in First Half of 2020...

Russian energy giant Novatek will launch the fourth production train, or processing unit, of its Yamal liquefied natural gas plant in the first half of 2020, CEO Leonid Mikhelson said on Thursday. "We will begin...

Chevron weighs sale of stake in Indonesian Deepwater Development project

U.S. oil giant Chevron Corp is considering selling its participating interest in the Indonesian Deepwater Development (IDD) gas project, the company said on Friday, as it makes sweeping changes to cut costs and streamline...

Oil rebounds, but markets ‘twitchy’ over China virus impact on demand

Oil prices edged up on Friday, helped by a decline in U.S. crude stockpiles, but were on track for to fall up to 5% for the week on worries that the China coronavirus that...

U.S. imposes fresh Iran-related sanctions on two people, six companies

The United States on Thursday said it blacklisted two companies based in Hong Kong, one in Shanghai and one in Dubai for helping Iran’s state-owned National Iranian Oil Company (NIOC) export millions of dollars...

Maersk expects bunker price spike to raise surcharge

Containership company AP Moller-Maersk has changed the way it calculates its bunker fuel surcharge and expects to charge its customers more for fuel from March because of more expensive and volatile bunker fuel prices. Maersk...

Oil industry in Davos: torn between Greta and Trump

Oil majors are at the sharp end of the climate debate and face a bewildering balancing act to secure their futures. It’s a Catch-22 situation: to meet ambitious emissions targets by investing in low-carbon technologies,...