News & Events

With all the oversupply concern among oil traders, the buyers’ market in Asia is likely to remain strong this year, S&P Global Platts reports today, citing local traders. Everyone who produces oil is looking eagerly for buyers in Asia as the United States produces ever-growing volumes of light crude that has pressured premiums for these grades, making…

Crude oil will remain oversupplied in the first quarter of 2019 as the market works through stocks, said energy information provider, Argus Media. An oversupply of oil will continue to pressure prices into the first quarter of 2019, but producer cuts will eventually boost crude price as the year progresses, according to Argus Media, an energy information provider. That…

SINGAPORE (Dec 31): In December, news emerged that social media giant Facebook had been playing fast and loose with its users’ data. Internal documents and emails published by the UK government show that the company considered employing the data for strategic and commercial purposes. Advertisers and partners would be sold access to the valuable information,…

SINGAPORE (Dec 12): Trade protectionism is cited as the top risk among local economists, as suggested by the latest findings of the Monetary Authority of Singapore’s (MAS) Dec 2018 survey of professional forecasters, which reflect the views of 23 economists and analysts who closely monitor the Singapore economy. Based on the latest survey’s findings, 100%…

A new global cyber threat campaign has recently infiltrated dozens of energy, defense, nuclear, and financial companies around the world, using malware to extract and exploit data from these organizations in a campaign McAfee has dubbed ‘Operation Sharpshooter’. The McAfee Advanced Threat Research team and McAfee Labs Malware Operations Group say that they have discovered that this…

The new year will see a change in the method used by IMCA for collecting safety statistics from its contractor members. This will result in simpler, more timely reporting, and the ability to more easily benchmark performance – two factors we believe will stimulate higher data submission rates than in the past. IMCA began collecting…

Paris – Total has signed an agreement to divest a 4% interest in the Ichthys liquefied natural gas (LNG) project in Australia to operating partner INPEX for an overall consideration of $1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of…

LONDON and NEW YORK (Bloomberg) — After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories. American-based oil refiners have been told to expect much lower shipments from the kingdom in…