ExxonMobil charters Singapore’s 1st LNG-fueled bunker barge

ExxonMobil Asia Pacific has signed a two-year time charter agreement with Singapore-based Sinanju Tankers Holdings Pte. Ltd. to lease Singapore’s first liquefied natural gas (LNG)-powered bunker tanker, Sinanju said, in a statement Friday, Kallanish Energy reports. The 7,990 deadweight tonnage (dwt) new build will be the first LNG bunker tanker for Singapore and Sinanju and

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Oil plummets on fears of global slowdown

Crude oil prices fell more than 4.3% Wednesday, to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears demand will shrink due to Washington’s growing trade war with Beijing. Brent crude futures dropped 4.4%, to $56.35 a barrel, a seven-month low. Prices have lost more than 20%

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Crude oil falls as US-China trade tensions impact

Crude oil prices fell slightly Tuesday, with Brent crude remaining near seven-month lows just below $60 a barrel due to growing trade tensions between China and the U.S., Kallanish Energy reports President Trump is vowing to impose new tariffs on Chinese imports, and China is retaliating by making further moves against U.S. agricultural purchases. The

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Delek says gas exports to Egypt by year’s end

Israel’s Delek Drilling said it has completed testing of a subsea natural gas pipeline to Egypt, but commercial sales by June 30 did not occur as originally projected, Kallanish Energy understands. Delek and its partner, the U.S.’s Noble Energy, signed a deal early in 2018 to export $15 billion in natural gas from Israeli offshore gas fields

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Crude oil settles down as US Fed holds rates steady

Crude oil prices were little changed Wednesday after the U.S. Federal Reserve said the central bank will hold interest rates steady, Kallanish Energy reports. Brent crude futures were down 29 cents, or 0.47%, to $61.85 a barrel. U.S. West Texas Intermediate crude settled down 14 cents, or 0.3%, to $53.76/Bbl. Government data showed U.S. crude inventories fell

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US, Brent crudes fall amid supply-cut uncertainty, US-China tariffs

Crude oil prices settled lower Monday after a choppy trading session, as Saudi Arabia and Russia have not yet agreed to extend the Opec+ output-cutting deal, and U.S.-China trade tensions continued to threaten crude demand, Kallanish Energy understands. U.S. West Texas Intermediate crude futures settled 73 cents lower, at $53.26 per barrel, falling 1.4% for the

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YPF prepares first shipment of LNG from Argentina

Argentine oil company YPF SA said it’s now loading the first shipment of liquefied natural gas for export from the South American country, Kallanish Energy reports. The shipment includes 30,000 cubic meters (1.06 million cubic feet, or Mmcf) of LNG from the Vaca Muerta Shale play, YPF said, in a statement. “This is the first

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Brent slips to 4-month low, as trade fears persist

Crude oil futures ended Monday’s trading session lower after unsettled trading, as Saudi comments indicated Opec+ would extend supply cuts supported prices, but concerns U.S. tariffs on China and Mexico would hurt demand weakened the market. Opec+, which includes most Opec members, along with a number of non-producers led by Russia, since Jan. 1, has

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Icahn challenges Oxy’s ‘hugely overpriced’ Anadarko deal

Billionaire activist investor Carl Icahn last week filed a lawsuit against Occidental Petroleum, looking for board seats and eventually a sale of the company, Kallanish Energy learns. Icahn said in the lawsuit filed in Delaware Chancery Court he’s built a $1.6 billion stake in Houston-based Occidental, and is upset by its decision to acquire Anadarko

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Crude plunges nearly 4%

Crude oil prices plunged Thursday on a smaller-than-expected decline in U.S. crude inventories and fears of a global economic slowdown due to the U.S.-China trade war, Kallanish Energy understands. The U.S. Energy Information Administration reported crude stockpiles fell nearly 300,000 barrels last week, less than the 900,000 Bbl decline analysts forecast in a Reuters poll, and

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US crude prices settle up due Midwest flooding

U.S. crude oil futures gained nearly 1% Tuesday after flooding throughout the Midwest constricted crude flow from the storage hub in Cushing, Oklahoma, Kallanish Energy learns. U.S. West Texas Intermediate futures settled at $59.14 a barrel, up 51 cents, or 0.9%, from its close on Friday before the long Memorial Day holiday weekend. Flooded areas

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Crude prices slip Friday, post weekly gains

Crude oil prices slipped Friday, but West Texas Intermediate and Brent both posted a weekly gain on rising concerns over more Middle East supply disruptions due to U.S.-Iran political tension, Kallanish Energy reports. A deputy head of Iran’s Revolutionary Guards said Friday Iran could “easily” hit U.S. warships in the Persian Gulf, the latest rhetoric

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US, Brent crudes rise on Middle East tensions

Crude oil prices jumped as much as 2% Thursday as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its oil infrastructure. U.S. West Texas Intermediate crude futures settled 85 cents higher, at $62.87 per barrel, gaining 1.4% and closing at the highest level in two

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Oil rises as market shrugs off jump in US crude inventories

Crude oil futures rose slightly Wednesday as worries that rising tensions in the Middle East could impact global supplies overshadowed an unexpected rise in U.S. crude inventories, Kallanish Energy reports. U.S. West Texas Intermediate crude futures settled 24 cents higher, at $62.02 per barrel. Brent crude futures rose 53 cents, to $71.77/Bbl. U.S. crude stocks rose unexpectedly last

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Iraq planning $53B megaproject with Xom, PetroChina

Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Iraqi prime minister Adel Abdul-Mahdi announced Tuesday, Kallanish Energy finds. The project would boost output from Iraq’s southern oilfields, and includes plans to capture natural gas, which is currently being

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