t’s taken a maritime crisis to offer hard-hit oil tanker owners an unexpected reprieve, although the relief is expected to be short-lived. Shippers have been making losses on the delivery of cargoes since the Continue Reading
A back-of-the-envelope calculation shows there’s about $9.6 billion worth of daily marine traffic halted by the massive container vessel that lodged in the Suez Canal earlier this week, blocking transit Continue Reading
An elite team is set to tackle the monumental challenge of freeing the massive container vessel that’s blocking the Suez Canal, as a backlog of ships continued to build up Continue Reading
Japan’s Shoei Kisen Kaisha, owner of the Ever Given, said March 25 it is currently considering what needs to be done to improve the situation its container vessel, which ran Continue Reading
The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry. Lifted Continue Reading
Indian refiners are going shopping as far as North and South America, buying some crude grades for the very first time, as the world’s third-largest oil importer looks to diversify Continue Reading
India is experiencing a sharp rise in coronavirus infections, increasing pressure on New Delhi to accelerate its vaccine rollout and puzzling scientists after a retreat of the pandemic had buoyed Continue Reading
After a series of notable oil discoveries in offshore Guyana and then Suriname over the last six years the impoverished South American nations became a focal point for offshore drilling Continue Reading
U.S. refiners have turned to Russian oil and petroleum products to fill the gap that sanctioned Venezuelan crude and drastically reduced OPEC shipments have left in U.S. imports, despite the Continue Reading
Domestic gas production surged to a nearly 12-month high this week as rising optimism in the US oil and gas industry continues to fuel an expansion in drilling activity and Continue Reading
