LNG

The CMA CGM Group said that despite the financial and operational challenges posed by the coronavirus pandemic, it was able to turn in a solid first-quarter performance that included a net profit of $48 million. CMA CGM said other Q1 achievements included increased liquidity, improved operating...

Good day, Oil cartel OPEC and the International Energy Agency (IEA) have warned developing countries that they need to contend with the possibility of losing up to 85% of their oil and gas income this year. This follows the coronavirus pandemic, which has forced countries to shut borders and...

We are possibly witnessing the largest stock market crisis in the last three decades. It is certainly the largest one since 2008. Up to now, coronavirus has infected more than 187,000 people, causing more than 7,000 deaths. The "pumping at will" behavior exhibited during this oil war...

A new job title has been born: worldwide corona czar. That's what Lois Zabrocky, CEO of Manhattan-based International Seaways (NYSE: INSW), dubbed her company's head of IT, who spent the past several weeks preparing the company and its systems for working off-site. "We are now working remotely,...

Market Crash – Déjà Vu? Although we thought that the stock exchange had reached bottom last week, another blow happened this morning, when trading halted for the third time in six days. Namely, S&P 500 plunged by 7% this morning, initiating a circuit breaker. The same...

Image by Jason Weeks from Pixabay

It is the best of times; it is the worst of times. Just as spot freight rates for supertankers have reached epic new heights, crude-tanker stocks are plummeting. Rates for very large crude carriers (VLCCs; tankers that carry 2 million barrels of crude oil) have in some cases topped $300,000 per...

Exxon Mobil (NYSE: XOM) and Chevron Corp. (NYSE: CVX), U.S.’ largest oil companies, were among the first to take the hit from the new Russia– Saudi Arabia price war. Namely, Russia and Saudi Arabia, entered a war on oil production. Both oil giants are nothing less than determined to...

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) continues to pursue Russian state-controlled Rosneft Oil Co. (OTCMKTS: RNFTF) and its overseas affiliates involved with international transactions of Venezuela oil. On Thursday, OFAC added TNK Trading International S.A. (TTI)...

Russia and Saudi Arabia clashed over the oil price, both trying to keep or increase their share in the market. The coronavirus outbreak was at least the official beginning of the conflict. As millions of people are in quarantine, and traveling is reduced to a minimum, oil has faced a sharp decrease...

Among all the chaos in markets these past days has been one that is of particular importance to the trucking industry – the price of oil and the price of diesel have collapsed. This may sound like nothing but a good thing for the trucking sector, but as are many things, it's complicated. Drilling...

Good day, The chaos is far from over for the oil markets, as prices continued to fall today after Saudi Arabia stated that Aramco, the country's state-owned oil company, will increase its maximum sustainable production capacity from 12 million to 13 million barrels per day (b/d). This announcement...

Good day, Since launching its Delo 600 ADF diesel oil in November 2019, Chevron Corporation (NYSE: CVX) has been promoting the oil's capability to improve diesel particulate filter performance (DPF) and extend the time between DPF cleanings. At the Technology & Maintenance Council's annual...