Global Energy Industry News

Iran says to introduce new oil contract in two or three months

July 24, 2015
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By hellenicshippingnews Iran aims to introduce a new petroleum contract internationally in the next two to three months, its deputy oil minister said on Thursday, part of the Islamic Republic’s plan to boost output post-sanctions. The proposed contract is more liberal than Iran’s previous “buy […]

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Oil prices climb, but stay in bear market territory

July 24, 2015
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By hellenicshippingnews Oil prices edged up on Friday after closing at their lowest in months in the previous session as oversupply and disappointing Chinese factory activity dragged on the market. Oil prices in the United States have slumped more than 20 percent in the past six weeks, a […]

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Prohibition of crude oil vessels from Nigerian waters

July 23, 2015
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It has come to the Club’s attention that a complete ban from further trading to Nigeria, has been placed on some 113 crude oil tankers, some 13 of which are entered with the Association. The Members concerned have been advised directly.. Read full story ›

Source: http://www […]

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Russian ESPO crude premiums plunge to near 5-year lows on Asian glut

July 22, 2015
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By hellenicshippingnews Spot premiums for Russia’s ESPO blend crude have fallen to their lowest in nearly five years, as ample supplies of rival barrels in the region weigh on fundamentals while demand eases on weaker product cracks. Platts on Tuesday assessed the ESPO M1 premium to Dubai […]

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