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Top News In எண்ணெய் மற்றும் வாயு அப்ஸ்ட்ரீம் நடவடிக்கைகள் Today - Breaking & Trending Today

Vitol Is Near $1 Billion-Plus Deal for Hunt's Permian Oil Wells

(Bloomberg) Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the biggest independent crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter. The deal could be announced in coming days, said the people, who asked not to be named because the talks are private. Hunt’s assets may command more than $1 billion, one of the people said. Vitol set up a Houston-based venture called Vencer Energy LLC last year with a mandate to acquire oil and natural gas assets in the U.S. The country became a key export hub for the commodities trader after a ban on exporting crude was lifted in 2015 due to the relentless growth of shale production from the Permian and other basins. A spokeswoman for closely held Hunt declined to comment. A Vitol spokesperson in London declined to comment. Outside of the Permian region, Hunt also has investments in the Bakken, Eagle Ford and Marcellus shale b ....

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Unconfirmed reports of vessel attacked off Saudi Arabia: Dryad

DUBAI (Reuters) -Saudi Arabia said on Tuesday it had intercepted an explosive-laden boat off the Red Sea port of Yanbu after maritime security firms cited unconfirmed reports of an attack on a vessel in the area. A Saudi defence ministry statement on state media did not say whether there had been any damage as a result of the operation by the Saudi navy to intercept and destroy the remote-controlled boat. Security firm Dryad Global had earlier said it received unconfirmed reports that a vessel, possibly the oil tanker NCC Dammam owned by a unit of Saudi firm Bahri, had been attacked off Yanbu. Chief executive Abdullah Aldubaikhi told Reuters that no vessels owned by National Shipping Company of Saudi Arabia (Bahri) had been attacked. British maritime security company Ambry also cited reports of an incident and said smoke was seen rising from a vessel. United Kingdom Maritime Trade Operations (UKMTO) said it was aware of reports of an incident approximately 2 nautical miles from Yanbu a ....

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Oil Dips With U.S. Supply Gain Adding to Global Demand Challenge

(Bloomberg) Oil fell for a second day with an increase in U.S. crude inventories compounding concerns around a choppy global demand recovery. Futures in New York fell 2.1% on Wednesday after a U.S. weekly inventory report showed the first gain in domestic crude supplies in a month. Meanwhile, a resurgent coronavirus in India is curbing fuel consumption. “The price pullback has been over rising uncertainty in regards to global oil demand, given the rise in infections, particularly in India,” said Rob Thummel, a portfolio manager at Tortoise, a firm that manages roughly $8 billion in energy-related assets. “India is a large, high growth market for oil. What’s going on in the country with Covid-19, at least in the near-term, could pose a challenge for demand.” U.S. benchmark crude prices are still up more than 25% this year with the country proving to be a bright spot for demand as a speedy Covid-19 vaccine rollout boosts domestic travel. A gauge of U.S. gasoline consumption i ....

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Lebanon swaps $200m in fuel with Iraq for in-kind services

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Lebanon and Iraq plan to exchange about $200 million worth of heavy fuel for in-kind services, including medical expertise, caretaker energy minister Raymond Ghajar told
The National on Sunday.
The deal, which has been in discussion for “two to three years”, involves Lebanon buying 500,000 tonnes of heavy fuel from Iraq, currently worth roughly $200m, Mr Ghajar said.
The Lebanese government will deposit the money in a special account at Lebanon’s central bank for Iraq to spend locally on “any type of service, like health services”, said Mr Ghajjar.
“It’s not up to us, it’s up to them to decide what to do with the money,” he added. ....

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Suez Canal shipping backlog to end on Saturday - canal authority

Suez Canal shipping backlog to end on Saturday - canal authority
FILE PHOTO: A ship is seen after sailing through Suez Canal as traffic resumes after a container ship that blocked the waterway was refloated, in Ismailia, Egypt, March 30, 2021. REUTERS/Hanaa Habib/File Photo reuters tickers
This content was published on April 3, 2021 - 09:46
April 3, 2021 - 09:46
CAIRO (Reuters) - The last ships stranded by the grounding of a giant container vessel in the Suez Canal should pass through the waterway on Saturday, according to the canal authority, which said an investigation into the incident would report its findings soon.
Osama Rabie, chairman of the Suez Canal Authority (SCA), said 85 ships were expected to pass the canal from both sides on Saturday. They will include the last 61 ships out of the 422 that were queuing when the Ever Given container vessel was dislodged on Monday, thus ending the backlog of shipping that built up during the crisis, he added. ....

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