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Volatile crack spreads — the profit or loss derived from producing different refined products — as well as volatile crude prices, has led to rapidly changing trade flows and new tanker routes
Many shale producers have debt maturing in 2022 estimated at $30bn, and they will divert cash to pay back debt rather than invest in drilling, says Chris Midgley of S&P Global Platts
The two executives came to the authorities’ attention in the massive Brazilian anti-corruption campaign Operation Car Wash
Crude tanker tonne-mile demand for imports and exports out of the US Gulf contracted for the first time in 2019, as gains made in rising exports of shale oil failed to offset those lost via declining imports, according to Lloyd's List Intelligence data.
Between 8,000 and 9,000 installations of ballast water treatment systems are expected this year, with over 11,000 anticipated in 2021
Chief executive Bing Chen says Seaspan’s business model, which focuses on long-term charters, should insulate the company from any short-term market volatilities
The deal accords with new directions outlined by Maersk chief executive Søren Skou late last year: ‘We need to grow in acquisitions on land warehouses and customs house clearing services’
Rosneft Trading has taken over most of the marketing of Venezuelan crude over the last nine months with oil supplied in return for loan repayments, and subsequent sales brokered with India and China
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