Global Energy Industry News

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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Iran Seeks to Regain Share of Oil Market Regardless of Price

July 22, 2015
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By hellenicshippingnews Iran will emphasize regaining oil sales it lost due to sanctions over helping to prop up prices once curbs that choked off the nation’s crude exports are lifted. The Persian Gulf producer plans to restore output to the level it achieved before the economic curbs […]

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