Author Archives: moshtari

Crude oil benchmarks gain on Saudi comments

Benchmark crude oil prices gained on markets in both London and New York Mar. 11 after Saudi Energy Minister Khalid al-Falih said production cuts led by the Organization of Petroleum Exporting Countries likely will continue until at least June. Speaking before the start of CERAWeek by IHS Markit in Houston, al-Falih told Reuters Mar. 11 that it would be too early to ...

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Higher Oil Prices Could Jeopardize India’s Economy

While oil exporting nations are benefiting from higher oil prices, oil importers face growing crude import bills that affect government finances. India—the world’s third-largest oil importer—is one of the biggest losers of the higher oil prices in recent months, as the increased price of oil widens its trade deficit, puts more upside pressure on inflation that threatens to exceed government ...

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Asia leads global refinery coking units capacity additions by 2023

The company’s report: ‘Global Refinery Coking Units Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Coking Units’ states that up to 1,885 thousand barrels of oil per day (mbd) of coking units capacity will be added globally by 2023 from new-build and expansion projects, taking the total global refinery coking unit capacity to ...

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Roll Group awarded contract to transport 24 modules for Total Ethane cracker project

Roll Group has been awarded a contract to transport 24 modules for the Total Ethane cracker project in the USA. Roll Group awarded contract to transport 24 modules for Total Ethane cracker project The transport will cover seven single voyages, using both RollDock and BigRoll vessels. The services and expertise of Roll-Lift will also play a part in the completion ...

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Global tech start-ups land place on unique accelerator

Nearly 200 applications from over 35 countries were received this year, with strong representation from the UK, US and Canada, covering both oil and gas and cleantech solutions that will support the industry to maximise economic recovery and the transition to a low carbon economy. The final 16 companies successfully battled it out in front of industry judges who awarded ...

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NYMEX crude oil price reaches 4-month high

Light, sweet crude oil prices settled above $58/bbl on Mar. 13 after the US Energy Information Administration reported crude oil supplies, excluding the Strategic Petroleum Reserve, fell by 3.9 million bbl to 449.1 million bbl for the week ended Mar. 8. The drop was unexpected. Analysts surveyed by the Wall Street Journal in advance of the EIA weekly inventory report ...

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Shale support secure deal as provider for tier- one E&P

HOUSTON – shale Support Holdings, LLC, a pioneer in supplying sand products and logistics solutions for the oil and gas market of Propane, has announced the transaction as the provider of an exploration company and producing oil and natural gas. Shale Support will supply the tier-one E&P with high quality frac sand from its Picayune, Miss. mine to the Eagle ...

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PEDEC Priorities Outlined

The CEO of Petroleum Engineering and Development Company (PEDEC) outlined the company’s priorities in the new Iranian calendar year which starts on March 21. According to PEDEC, Touraj Dehghani said accelerating the development of joint oil fields was top on PEDEC’s agenda in the new Iranian year. He said, “This year, given the special conditions that existed in the country, ...

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Eni Makes Major Oil Discovery Offshore Angola

Italy’s oil and gas major Eni said on Wednesday that it had made a major oil discovery in Angola’s deepwater in a find that could help the African OPEC producer to reverse the recent decline in oil production. Eni struck oil in Block 15/06 in the Agogo exploration prospect and estimates that the discovery contains 450-650 million barrels of light oil in ...

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