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IMO agrees to address fuel safety concerns under new MSC agenda item


IBIA welcomes a decision by the IMO’s Maritime Safety Committee to add a new item to its agenda to address concerns about fuel safety, separating the subject from discussions around the implementation of the new 0.50% sulphur limit under MARPOL

Shell Oman signs agreement with Port of Duqm to develop fuel bunkering facilities


Shell Oman Marketing Company SAOG, the leading downstream fuel marketing company in the Sultanate, signed an agreement with Port of Duqm Company SAOC (PDC) to develop fuel bunkering facilities and services. The agreement was signed by Dr. Mohammed Mahmood Al

VLCC Market Eased Off Earlier Gains


Middle East Gulf rates shed 11 points to WS 85/86 for 270,000mt to China, with South Korea fixed at WS 84. Going west, 280,000mt to the US Gulf went at WS 38, but is now assessed at WS 36.5/37

Oil Demand in 2019: OPEC’s Prediction


After a healthy start to the year, the world economy in 2018 was marked by a rising divergence in growth trends. Within the OECD, the US managed to grow by a much higher rate than other economies, fueled by an

Coming changes in marine fuel sulfur limits will affect global oil markets


International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operators, refiners, and global oil markets. Stakeholders will respond to these regulations in different ways, increasing uncertainty for crude oil

Baker Botts’ Oil and Gas Outlook in 2019 – What’s to Come?


Baker Botts is seen a as world class global energy law firm, and our energy lawyers have provided their thoughts on key points to focus on in 2019.

As domestic oil and gas production continues to thrive, the evolution of technology

Intercontinental Exchange Announces Launch of Marine Fuel Contracts in advance of IMO 2020


Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced plans to launch new Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap

IEA Oil Market Report: A floor under prices?


OPEC and some non-OPEC oil ministers met in Vienna last week and agreed to curb their output by 1.2 mb/d in order to address growing surpluses in the market. The agreement aims to achieve relative stability and to bring the

For one week in November, the U.S. was a net exporter of crude oil and petroleum products


During the week ending November 30, 2018, the United States exported more crude oil and petroleum products than it imported for the first time in weekly data going back to 1991. From November 24–30, the United States exported an estimated

OPEC Sees Oil Demand Falling in 2019


Crude Oil Price Movements
The OPEC Reference Basket (ORB) ended November down by $14.06, or 17.7%, month-on-month (m-o-m), to average $65.33/b, its lowest level since last March. Year-to-date (y-t-d), the ORB value was $19.14, or 37.1%, higher at $70.75/b compared

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