Thursday, December 19, 2024

Marine Fuel Regs Will Spur Higher Oil Demand in 2020

Switching fuel is more important than it seems Upcoming regulations on fuels in the maritime industry will have major effects far beyond shipping companies, with reverberations throughout the oil industry. The International Maritime Organization has passed new regulations for ships around the world requiring them to use 0.5% sulfur fuel, a major drop from the 3.5% allowed currently. OPEC presented

Shell CEO Considers New Natural-Gas Bet

From The Wall Street Journal Shortly after Ben van Beurden took over as chief executive of Royal Dutch Shell PLC, he bet the company on natural gas, with a roughly $50 billion takeover of a rival focused on shipping the fuel around the globe. Now he is preparing to double down. Mr. van Beurden said Tuesday that a consortium led by the

Iranian Oil Tankers Go Dark With 1 1/2 Months to Go to Sanctions

From Reuters Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for

Total Sees Cash Flow Output Boost From Deep Water Projects

From Reuters Oil and gas major Total, said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa’s Gulf of Guinea region, Brazil and U.S. Gulf area. Production from deepwater projects is expected to reach 500,000 barrels of oil equivalent per day