Oil price
Oil price falls below zero for first time in history
The oil price for the American benchmark West Texas Intermediate oil (WTI) dropped below zero on Monday for the first time in history. Traders were…
Oil & Gas
OPEC+ agrees on record production cut
OPEC and its allies have agreed to cut oil production by 9.7 million barrels per day starting May 1st. The record cut is aimed at…
Oil price
Oil prices jump 20% after Trump tweets about production cuts
Oil prices have jumped by over 20% to USD 31,62 (Brent) after Saudi Arabia called for an emergency of OPEC and its allies including Russia…
Coronavirus
Fuel prices take a massive nosedive
Fuel prices have taken a massive nosedive since the beginning of the year with low sulphur fuel prices in Singapore dropping from USD 734 per…
Oil&Gas
Bourbon receives four takeover offers, extends deadline
Bourbon Corporation has received four takeover offers since the holding company suspended its listing and started a reorganization procedure to deal with its severe financial…
EPC
Media: Saipem and Subsea 7 consider merger
Saipem and Subsea 7 are considering to merge to weather the still difficult circumstances in the oil and gas services market. If the deal goes…
MPV-market expected to grow by 2% despite weakened economy
The fragile global economy has weakened the outlook for the multipurpose shipping industry but despite the challenges and uncertainties, the market is still expected to…
Fuel prices skyrocket, but analysts expect spike to be short-lived
Fuel prices have skyrocketed following the drone attacks on Saudi-Arabian oil terminals this past weekend. In major bunker ports like Rotterdam and Singapore prices have…
Oil prices may fall ahead of 2020, warns Rystad Energy
The oil market is going from gloomy to gloomier, warns Rystad Energy in a new market report. Increased production, economic recession, the ongoing trade war…
Oil&Gas
Bourbon Offshore suspends listing after creditors demand debt
French shipping company Bourbon Offshore is in serious danger of bankruptcy now that a group of creditors has demanded immediate payment of outstanding debt with…
Economic concerns and high US production lead to oil price drop
Growing fears of an economic slowdown and record high US oil production levels have led to a dropping oil price (Brent) which this week, for…