Hormuz Traffic Sinks to Six Vessels Monday as Iran Talks Stall Again
Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. On Monday, only six commodity…
China’s Teapot Refiners Poised to Ramp Up Iranian Oil Buying
China’s independent refiners are likely to return to buying higher volumes of Iran’s crude oil this month as stockpiles in Shandong, home to the independent Chinese refiners, have dropped to…
Global Gas Turbine Orders Hit Record High as Power Demand Surges
Global orders for gas turbines have hit a record high as demand for power generation surges, according to JP Morgan. New gas turbine orders in the second quarter stood at…
Libya Weighs Force Majeure After Drone Attacks on Zawiya Oil Hub
Libya’s National Oil Corporation may declare force majeure on exports from the Zawya oil terminal as a result of drone attacks on the facility. The Zawya terminal has a daily…
Oil Prices Climb as U.S.-Iran Peace Hopes Fade
Crude oil prices moved higher today as the chances of a lasting peace between the United States and Iran shriveled following Iran’s release of six conditions earlier this week and…
BofA: Hormuz Needs 10 Times More Ships to Stabilize Oil Markets
Bank of America (BoFA) is warning that oil prices could continue climbing into the winter if the U.S. and Iran fail to reach an agreement reopening the Strait of Hormuz,…
Egypt and Libya Near $1 Billion Oil Pipeline Deal
Egypt and Libya are reportedly nearing a deal to build an 800-kilometer oil pipeline connecting Tobruk with Alexandria, creating a direct route for growing Libyan crude production to reach Egyptian…
Cardinal announces ‘world’s first’ float glass carbon capture system in Washington
By 25 min ago 3 min read Minnesota-headquartered glass manufacturing company Cardinal Glass Industries (Cardinal) plans to capture around 130,000 metric tonnes of carbon dioxide (CO2) each year through a…
UK regulator seeks views on Vivisol acquisition of Air Liquide’s home oxygen business
By 41 min ago 3 min read The UK’s Competition and Markets Authority (CMA) is inviting comments on Vivisol’s proposed acquisition of Air Liquide Healthcare’s home oxygen services business before…
Robotics next in line to face electricity scrutiny
By 16 min ago 2 min read After all the attention surrounding data centres’ electricity consumption, now robotics finds itself under energy scrutiny. The global robotics industry will consume as…
