Russian Energy Minister Novak: No need to Freeze or cut oil output levels

Russian Energy Minister Alexander Novak said on Saturday there was no reason for Russia to freeze or cut its oil production levels, noting that there were risks that global oil markets could be facing a deficit. OPEC and its partners led by Saudi Arabia and non-OPEC member Russia agreed in June to lift oil supplies,
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Global energy demand is expected to grow by 33 percent to 2040, the Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said during an event in Madrid on Tuesday. Barkindo was speaking at an event organised by the Spanish oil and gas company Cepsa. Oil would continue to have a predominant
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With the growing relevance of Liquefied Natural Gas (LNG) as a sustainable alternative to oil and other fossil fuels, Sembcorp Marine, ABS and A*STAR’s Institute of High Performance Computing (IHPC) are teaming up to develop new technologies, applications and capabilities in the offshore, marine and energy sectors that will advance the adoption of LNG as
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Russia’s energy minister Alexander Novak believes OPEC, Russia and their allies within the production cut alliance should ink an agreement on the group’s broader cooperation in December so that the new partnership format comes in force from January 1, 2019. “It will be expedient to sign it in […] early December so that it comes
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The LNG carrier Stena Blue Sky was historical when it delivered its cargo to the first privately-owned LNG terminal in China. Chinese gas distributor, ENN invited the LNG carrier to become the first vessel to unload at the new Xin’ao Terminal in Zhoushan, Ninbo region on 8th August 2018. Chinese companies build their own LNG
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The International Marine Contractors Association (IMCA) is responding to the growth of involvement by its members in the marine renewable energy sector. IMCA’s Technical Adviser – Marine, Captain Andy Goldsmith said: “IMCA’s Marine Renewable Energy Committee has been busy responding to the needs of our members in this growing sector. The Committee interacts directly with
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Aegean Marine Petroleum Network Inc. (NYSE:ANW) (“Aegean” or the “Company”) announced that Mercuria Energy Group Limited, together with its affiliates (“Mercuria”), became the sole lender under the Company’s U.S. and global revolving credit facilities (the “Trade Finance Facility”), as contemplated by the previously announced Memorandum of Understanding (“MOU”). Mercuria and the Company have executed a
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SK Energy International secured approval on Monday from Singapore’s Maritime Port Authority to offer 0.1% ultra-low sulfur fuel oil bunker fuel with an MPA-approved mass flow meter system from August 9, a company source said Tuesday. The MT Wisdom, which was chartered by SK for ULSFO delivery, is the first and the only MPA-approved MFM
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MUMBAI: The Government of India has set an ambitious target of installing 1 lakh MW of solar capacity by 2022 with a view to promote clean energy and reduce dependence on petroleum and diesel which create pollution. JNPT in its own way is modestly contributing to this noble exercise by installing solar energy panels at
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The transition to a circular, low-carbon economy is one of the strategic priorities of Antwerp Port Authority. Sustainable energy is an important aspect of this, and recently the Port Authority was awarded ISO 50001 certification for the second time in a row. This internationally recognised standard for sustainable energy management comes in recognition of the
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