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Oil & gas project sanctioning in 2020 set to fall by more than 75% despite activity in Norway, Russia

19/07/2020

Global project sanctioning is set for a staggering decline this year of over 75% from 2019 levels, as the Covid-19 epidemic has caused E&P spending to drop much lower than what was expected at the beginning of the crisis. Rystad

South Asia Gateway Terminals (SAGT) becomes first Sri Lankan terminal to join TradeLens to digitalise supply chains

17/07/2020

SAGT, the first Public Private Partnership (PPP) container terminal in Sri Lanka, also became the first terminal in the country to adopt the Blockchain Technology by collaborating with TradeLens, a digital platform jointly developed by A.P. Moller – Maersk and

OPEC+ Cuts Tapering Reflects Recovering Oil Demand

17/07/2020

The OPEC+ agreed tapering of oil production cuts from August should support a gradual market rebalancing and may help reduce price volatility, Fitch Rating says. We expect OPEC+ to continue to periodically adjust the two-year deal reached in April 2020

Nine companies have started “Ship Carbon Recycling WG” of Japan’s CCR Study Group: Cross-industry initiatives for zero-e

16/07/2020

Nine Japanese companies (Note 1) have started the Ship Carbon Recycling Working Group (hereinafter referred to as “WG”) formed within Japan's Carbon Capture & Reuse (CCR) Study Group (Note 2), and held its first meeting. Participating members are EX Research

Pilot LNG Announces “Galveston LNG Bunker Port” Project to Provide Clean-Burning LNG Marine Fuel to Ports of Houston, Te

16/07/2020

Pilot LNG LLC (Pilot LNG), a clean energy solutions company focused on providing infrastructure solutions to supply new markets with clean-burning natural gas, announced today the filing of its regulatory applications paving the way for the development of the region's

The 5G Port of the Future

15/07/2020

One of the greatest challenges that ports face today is how they can evolve and adapt to become more efficient, competitive and sustainable. With its low latency, high capacity, and enhanced flexibility, 5G stands to bring unprecedented value to the

The outlook for the oil market in 2021

15/07/2020

The outbreak of COVID-19 pandemic had an unprecedented and devastating impact on the global economy and oil market fundamentals in 2020. While the market still finds itself in the midst of the crisis, gradual stabilization is expected to begin in

Methanol Institute joins first comprehensive study of Methanol as marine fuel in China

14/07/2020

The Methanol Institute (MI) has joined a study led by the China Waterborne Transportation Research Institute (CWTRI), the think tank of the Chinese Ministry of Transport, which will consider the technical and operational requirements for the use of methanol as

OPEC Expects Big Rebound in Oil Demand in 2021, Still Not Enough to Reach 2019 Levels

14/07/2020

OPEC released its monthly report yesterday.

Crude Oil Price Movements
Spot crude oil prices continued rising in June for the second consecutive month, given the continued improvement in physical crude market fundamentals and gradual reductions in global supply overhang. The OPEC

Informal discussions focus on cutting shipping’s carbon intensity

13/07/2020

IMO has facilitated virtual informal discussion sessions (6-10 July) on short-term greenhouse gas reduction measures for international shipping and their associated impact assessments. The sessions provided a platform for all IMO Member States and organizations in consultative status with IMO

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