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Petrobras exporting record volumes from sub-salt offshore oil fields

Rising output from Brazil’s sub-salt offshore oil fields is allowing Petrobras to export record volumes of oil and import less light crude for its refineries, a senior executive said. Cláudio Mastella, executive manager for refining and natural gas logistics, said the move is helping to reduce Petrobras’ operational and logistical costs because lighter oil is easier and cheaper to refine ...

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Port of Singapore throughput up 10% to 50.54 mln t in January 2017

Cargo volumes handled at the Port of Singapore in January 2017 climbed by 10%, year-on-year, to 50.54 mln t, the Port Authority statistics show. The volume of oil cargo climbed by 31% to 20.13 mln t, dry bulk cargo – by 7.1% to 1.57 mln t. Singapore is the city-state located on an island in the South-East Asia. In 2016, ...

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African port authorities meet in Dakar on how to match global trends

As in the case of Congo Republic’s Pointe-Noire, African ports are increasing their operational capacities. Installation of new infrastructures, signing of concession contracts among other moves are helping to multiply initiatives to integrate better in international trade. Port managers on the continent want to have more power in the global market and advocate for stronger regional cooperation. In the midst ...

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Belarus’ oil import 20.8% down in 2016

In 2016 Belarus imported 18.1 million tonnes of crude oil, 20.8% down from 2015, BelTA learned from the website of the National Statistics Committee of Belarus. In 2016 Belarus imported nearly $4 billion worth of oil, down from $5.7 billion in 2015. The price for one tonne of oil averaged $218.7 in 2016 and $247.3 in 2015. In 2016 Belarus ...

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‘MOL Group Safety, Environmental and Social Report 2016’ Earns Award of Merit in Env Comm Awards

Mitsui O.S.K. Lines, Ltd. today announced that the “MOL Group Safety, Environmental and Social Report 2016″(*1) received the Award of Merit in the Environmental Report category in the 20th Environmental Communication Awards(*2). This marks the third consecutive year the report has won the excellence award in this category. The report earned high marks for two points. First, it identified five ...

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Bullish Citi analysts call for crude oil to hit $70 by year end but elsewhere skepticism grows

Crude oil prices could shoot up to $70 a barrel by the end of 2017 as supply and demand levels continue to rebalance in coming months, according to analysts at Citi. Nearer-term, the research team has raised price estimates modestly by $5 to an average $55 per barrel for the first quarter and by $2 to an average $56 per ...

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OPEC chief sees higher compliance with oil cut, says confidence returning

OPEC and outside producers including Russia will boost compliance with agreed oil output curbs in a bid to clear a supply glut that has weighed on prices, the group’s secretary general said on Tuesday. OPEC Secretary General Mohammad Barkindo also said he was “cautiously optimistic” on the outlook for the oil market, almost two months into the group’s supply cut ...

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Hyundai Heavy bags order to build 2 oil tankers

Hyundai Heavy Industries Co., a major shipyard in South Korea, has received an order to build two oil tankers, industry sources said Tuesday. Under the deal with a Greek shipowner, Hyundai Heavy will build two very large crude carriers (VLCC) with 320,000 DWT by the end of 2018, the sources said, adding that the two sides have been in negotiations ...

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GateHouse Launches Cloud for Live Tracking of Loads at Sea

Data unifier and aggregator GateHouse Logistics today announced that it has launched a new cloud service to provide valuable real-time tracking of loads port-to-port. Destined for manufacturers, cargo owners, logistic service providers, container owners and all other players in the supply chain, the cloud service called ghVessel collects vessel AIS (Automatic Identification System) broadcast signals from satellite and land-based systems ...

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Egypt’s Sokhna port to start bunkering operations July 1

Egypt’s Suez Canal Economic Zone targets commencing bunkering operations at Sokhna port July 1, the Vice Chairman of the General Authority for the SC Zone, Abdelkader Darwish, was quoted late Monday as saying. The authority has invited marine fuel suppliers to submit applications for bunker supply licenses at the port by April 7, Darwish was quoted as saying at an ...

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