LONDON,  Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 30.25 million barrels per day (b/d) in March from 30.42 million b/d in February, a decrease of 170,000 b/d, as Iraqi and Nigerian volumes dropped, according to a Platts survey of OPEC and oil industry ... Read More

Opec expects world demand to reach 88.87 million barrels per day (mbpd) this year, slightly higher than its previous forecast in March of 88.83 mbpd. Photo: AFP For 2013, Opec forecast 89.66 mbpd, with slow growth at the beginning of the year picking up in the second half Vienna: Organisation of ... Read More

The World Bank has approved a line of credit worth $250 million for three African countries namely Uganda, South Sudan and Mozambique. The Bank is lending $150 million to aid Uganda’s local governance, $50 million for South Sudan’s local governance delivery programme and another $50 million credit to boost technical assistance ... Read More

Kuwaiti Oil Minister, H.E. Mr. Hani Hussein Kuwait: The Kuwaiti Oil Minister, H.E. Mr. Hani Hussein , described the factors that triggered off a four-percent drop in oil prices last week as "transient factors." He listed such factors as US economic data and unemployment rates and economic indices in the ... Read More

(TRADE NEWSWIRE): The South African Department of Agriculture, Forestry and Fisheries (DAFF) has assigned Damen Shipyards Cape Town (DSCT, part of Damen Shipyards Group) to get its fleet of Fisheries Research Vessels and Fisheries Protection & Surveillance Vessels operational as soon as possible,TRADE NEWSWIRE reports. According to Damen's Communications Advisor, Jan-Hein ... Read More

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) yesterday disclosed that the country loses $6 billion annually to crude oil theft. PENGASSAN's President, Mr. Babatunde Ogun, made this known at a joint forum with the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) in Lagos. He said that ... Read More

  Harry Theochari, Global Head of Transport, Norton Rose Harry Theochari of Norton Rose said eco ships are attractive to many A large majority of the shipping industry sees improving fuel efficiency as the most important area to focus assets, according to a new study of transportation sectors by international law firm ... Read More

Chairman of the International Chamber of Shipping (ICS), Mr Masamichi Morooka Stringent measures to reduce shipping’s impact on the environment need to also be economically sustainable, warns the Chairman of the International Chamber of Shipping (ICS). Speaking at this week’s Connecticut Maritime Association event in USA, Mr Masamichi Morooka told delegates: ... Read More

PICTURE OF THE DETAINED VESSEL - MV ARTI (TRADE NEWSWIRE): As part of efforts to to put efforts to stop midstream discharge in the country, the Maritime Guard of the Nigerian Maritime Administration and Safety Agency has arrested a service cargo vessel, MV Arti laden with over 80,000 litres of suspected ... Read More

DOCKWISE Ltd. today announces that it has been awarded 6 new contracts, letters of intent and contract extensions with a total value of almost USD 60 million. The contracts include a material change order for a Vanguard contract delivering the customer a later loading window and 5 shorter term contracts for ... Read More