Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray and leading to a scramble of potential buyers.The U.S. Treasury cleared potential buyers to talk to Lukoil until December 13.
U.S. President Donald Trump issued an executive order on Wednesday imposing an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.The additional tariffs mean India will face the highest levy along with Brazil, putting it at a significant disadvantage against regional competitors such as Vietnam and Bangladesh.
Singapore's offshore services firm Kim Heng has held a christening ceremony for the Bridgewater Discovery, a DP2 geotechnical survey vessel, rebuilt in 2024.With the Bridgewater Discovery vessel, Kim Heng has marked another milestone in its expansion into the renewable business sector.
The hull for Bernhard Schulte (BS) Offshore’s new Commissioning Service Operation Vessel (CSOV) has arrived at Ulstein Verft’s shipyard, marking the start of new phase in the shipbuilding process.The vessel is designed by Ulstein Design & Solutions for ‘walk-to-work’ (W2W) operations, where personnel walks via a motion-compensated gangway from the ship to a wind turbine.
Oil prices fell below $60 a barrel on Tuesday, the lowest since May, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased.Brent crude futures fell $1.03, or around 1.7%, to $59.53 a barrel at 1340 GMT, while U.S. West Texas Intermediate crude was trading at $55.76, down $1.06, or 1.9%.
A boat carrying members of the Rohingya community from Myanmar has sunk near the Thai-Malaysian border, with hundreds missing, seven dead and 13 rescued, the Malaysian maritime agency said on Sunday.Rescuers were combing an area of 170 square nautical miles near Langkawi Island on Saturday after a boat with 300 people on board left Myanmar's Rakhine state three days earlier
Saipem, in consortium with BOS Shelf LLC and BOS Shelf International FZCO, (both companies being affiliates to the State Oil Company of the Azerbaijan Republic, SOCAR) has been awarded three new offshore contracts for the Shah Deniz Compression project operated by bp in Azerbaijan.The overall value of the contracts is approximately $700 million, and Saipem’s share amounts to $600 million.
Oil prices rose more than 1% on Wednesday, with the U.S. barring Chevron from exporting crude from Venezuela and production shut-ins from Canada, while markets anticipated an expected production increase from OPEC+.Brent crude futures LCOc1 rose 93 cents, or 1.5%, to $65.02 a barrel by 1300 GMT, while U.S. West Texas Intermediate crude CLc1 gained $1, or 1.6%, to stand at $61.89 a barrel.
Hungarian oil and gas group MOL and state-owned energy company MVM will jointly charter tankers to ship up to 160,000 metric tons of crude oil a year from Azerbaijan to further diversify energy supply for Hungary and Slovakia, MOL said on Thursday.The companies will both transport crude oil to the Ceyhan terminal in Turkey via the Baku-Tbilisi-Ceyhan (BTC) pipeline
PALFINGER MARINE will deliver eight Stiff Boom Cranes PS 15500M for four inland navigation vessels to the Brazilian shipyard Estaleiro Rio Maguari (ERM). This contributes to the optimization of inland navigation in Latin America (LATAM) along the Paraguay-Paraná waterway. The cooperation between PALFINGER MARINE and ERM is part of a large-scale inland waterway transport project led by LHG
Carboline has announced that Dr. Ali Shah has joined the company as Vice President of Global Research, Development, and Innovation.Shah brings over 22 years of product innovation experience, having held leadership positions with renowned global chemical companies, including Dow, Eastman, PPG and Lubrizol.
Knutsen NYK Carbon Carriers (KNCC), a subsidiary of NYK and Knutsen Group, has obtained Approval in Principle (AiP) from ClassNK for the design of liquified CO2 carriers that stores and transports liquefied carbon dioxide (LCO2) at ambient temperature but elevated pressure.The new carrier uses cargo tank technology developed by KNCC to transport LCO2 in a stable state.