IMO’s safety committee wants ‘concrete proposals’ to enhance ship safety in light of concerns regarding safety of low-sulphur fuel blends…
Month: December 2018
U.S. natgas output, demand seen rising to record highs in 2018 -EIA
U.S. dry natural gas production should rise to an all-time high of 83.30 billion cubic feet per day (bcfd) in 2018 from a record high 74.77 bcfd in 2017, the Energy Information Administration’s Short Term Energy Outlook (STEO) said. The latest December output projection for 2018 was up from EIA’s...
Russia to curb oil output in baby steps while Saudis cut 80 times faster
Russia played a big part in making possible a new OPEC+ deal to curb production, but initially it’s letting Saudi Arabia shoulder the bulk of actual cuts. OPEC’s largest ally aims to reduce its January production by at least 50,000 to 60,000 barrels a day compared with October levels, Russian...
STEO highlights: EIA cuts Brent, WTI 2019 forecasts nearly $11/b amid supply glut
The US Energy Information Administration on Tuesday reduced its forecasts for WTI and Brent spot prices in 2019 by nearly $11/b, largely due to record global output, particularly in the US, and lower-than-expected demand. In its Short-Term Energy Outlook, EIA forecast WTI to average $54.19/b in...
GAO: Navy Surface, Sub Repair Backlog Grew in 2018; 3 Attack Boats Now Not Certified to Dive
USS Dwight D. Eisenhower (CVN-69) prepares to pull into Norfolk Naval Shipyard in Portsmouth, Va. in 2017. US Navy Photo
CAPITOL HILL – Maintenance backlogs continue to plague the Navy’s surface ship and attack submarine readiness, with the service losing the equivalent of 17 ships for operational tasking this year due to delays in getting repairs, according to an analysis from the Government Accountability Office.
“For fiscal years 2012-2018, our analysis for key portions of the Navy fleet shows...
Is Fresh OPEC+ Output Cut Enough to Boost Oil & Energy ETFs?
After a long discussion, OPEC and Russia finally reached an agreement to cut output by 1.2 million barrels per day during the two-day OPEC meeting in Vienna to drain supply glut and boost prices. Under the deal, OPEC and Russia will cut 800,000 bpd and other top non-OPEC oil producers will be...
https://www.hellenicshippingnews.com/is-fresh-opec-output-cut-enough-to-boost-oil-energy-etfs/
U.S. crude stocks dip, gasoline builds – EIA
U.S. crude stocks fell last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.2 million barrels in the week to Dec. 7, compared with expectations for a decrease of 3 million barrels. Crude...
https://www.hellenicshippingnews.com/u-s-crude-stocks-dip-gasoline-builds-eia/