India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply.
As tanker owners with aged VLCC tankers were looking for an opportunity in the scrap market, in order to send their vessels for demolition, the opportunity of floating storage plays rose, giving those older ship anot ...
China's imports of commodities eased again in February, as the Lunar New Year holiday week took a bite out of shipping volumes, preliminary customs data showed on Sunday.
Vopak Horizon Fujairah, partly-owned by Emirates National Oil Company (Enoc), announced on Thursday it’s increasing its storage capacity from 2.1mcm to 2.6 million by 2016.
Top oil exporter Saudi Arabia is expected to raise the official selling price (OSP) for most of its crude grades to Asia in April, including a hike in the OSP for Arab Light to a four-month top, in line with a strong ...
Iraq’s Oil Ministry said on Thursday that crude exports averaged 2.535 million b/d in January, a decrease of nearly 14% from the previous month, depriving the nation of badly needed cash both for ongoing military ope ...
Angolan President Jose Eduardo dos Santos said oil revenue in this year’s budget will plunge by almost half, forcing Africa’s second-largest crude producer to cut spending.
NIGERIA earned N9.5 trillion from crude oil export trade and N923.5 billion from natural liquefied gas in 2014, according to the National Bureau of Statistics.