The huge volumes of oil held at sea have started to shrink and are expected to continue declining into the second half of this year, thanks to recovering demand and a change in the oil market structure, shipping sources told Reuters on Wednesday.
Oceaneering International’s Asset Integrity group has secured a three-year contract with Cabinda Gulf Oil Company Limited (CABGOC), a Chevron subsidiary. Oceaneering will provide inspection services onshore Cabinda, Angola, and offshore Angola on Blocks 0 and 14. The contract is scheduled to begin in Q2 2020. This award follows a recent contract win for inspection services for a maj
Brooge Energy Ltd. expects new tanks at its oil-storage terminal in the United Arab Emirates to be fully operational by the end of the year, with a single customer booked to lease all the additional capacity.
America’s biggest oil companies are coming under increasing pressure from climate-conscious investors to disclose their long-term forecasts for crude prices as the Covid-19 pandemic injects fresh uncertainty into the demand outlook for fossil fuels.
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