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Drop in petroleum demand led to rise in crude oil inventories and low refinery utilization


The U.S. Energy Information Administration's (EIA) latest Petroleum Supply Monthly shows the significant changes in petroleum markets that occurred in April, when most of the United States was under stay-at-home orders to limit the spread of coronavirus. In April, commercial

Protecting shipowners in the long run: A case for stringent scrubber wash water monitoring


Installing a scrubber represents a significant investment for a shipowner. With the financial cost of the system and its installation, coupled with the lay-up time – no shipowner can take the decision lightly; with the reduced spread between high-sulfur fuel

After a poor 2020, FPSO awards are set to recover to seven vessels next year


Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets and

Shipping sector prioritises five solutions for decarbonisation


Shell together with Deloitte Netherlands and Deloitte UK today published joint research outlining industry perspectives on decarbonising the shipping sector. The “Decarbonising Shipping: All Hands on Deck” report sets out the views of senior shipping executives from across the sector

New Wärtsilä Compact Reliq adds flexibility to the growing LNG market


The technology group Wärtsilä introduces its Compact Reliq reliquefaction plant. The system is designed to reliquefy boil-off gas (BOG) onboard gas carriers and LNG bunker vessels, and for keeping the cargo cool under all operational conditions. Its compact design enables

International Award for Green C Ports Project implemented with the participation of the port of Piraeus


The Green C Ports European Project has been awarded the 2020 World Port Sustainability Award of the International Association of Ports and Harbors (IAPH) in the ceremony which took place online on June 24, with the participation of port authorities

High volume vessel calls as a result of blank sailings put pressure on port operations


The tenth WPSP-IAPH COVID19 Port Economic Impact Barometer published today reveals an important development for ports located in countries where lockdown restrictions are being eased. This report accumulates results from ninety ports predominantly located in Europe and the Americas, with

The impact of COVID-19 on the energy transition


The coronavirus pandemic will have a dramatic impact on energy supply and demand in the short term and will have lasting impacts once the pandemic dissipates. However, that will in itself do little to advance the world's progress towards the

VLCCs: Rates On Reverse Mode


In the Middle East Gulf, rates eased a single point from last week’s levels with 270,000mt to China now around WS35, a round trip time-charter equivalent of about $20k pd, whilst for 280,000mt to USG via the

Modelling a second Covid-19 wave: Oil demand in 2020 could lose another 2.5 million bpd


As the number of confirmed new Covid-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic is increasingly apparent in several countries – most notably in the United States. Modelling the effect

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