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  • Oil Rises to 2-Week High as Saudi Arabia Bombs Targets in Yemen

    2015.03.26 05Oil climbed to the highest in more than two weeks in London as Saudi Arabia and its allies bombed rebel targets in Yemen, which is near the center of global energy trade.

    Futures surged as much as 5.8 percent, paring a monthly decline. King Salman ordered airstrikes against Shiite Houthi positions after an appeal from Yemen’s President Abdurabuh Mansur Hadi.

    Read more...
  • Britain’s Isle of Grain to test LNG export capability on Thursday

    2015.03.26 04Britain’s Isle of Grain liquefied natural gas (LNG) import terminal will test whether it can also export supply by loading a quantity of fuel onto inbound tanker Asia Vision on Thursday, a spokeswoman for operator National Grid said.

    This month National Grid outlined plans to add a reload system for small vessels at Europe’s biggest import facility and launched an open season to gauge demand.

    Read more...
  • Nigerian Qua Iboe May crude loadings fall to 367,742 b/d from April’s 380,000 b/d

    2015.03.26 03Loadings of Nigeria’s flagship Qua Iboe crude oil blend in May are set to be unchanged month on month at 11.40 million barrels in 12 cargoes, according to a copy of the program seen by Platts.

    That will see average loadings in May fall to 367,742 b/d from 380,000 b/d in April.

    May’s loading program showed state-owned NNPC with seven cargoes, while ExxonMobil is scheduled to load five.

    Read more...
  • Nigeria: Dockworkers’ Warning Strike Paralyses Port Activities

    2015.03.26 02Members of the Maritime Workers Union of Nigeria (MWUN) have embarked on a three-day warning strike to pave way for their executives to negotiate for an increase in their wages.

    Commercial activities were forced to a halt at the commencement of the warning strike by the workers who bluntly refused to go to their duty posts until their employers listen to their demands.

    Read more...
  • Widened Panama Canal could begin operation in April 2016

    2015.03.26 01An expanded Panama Canal is expected to finally be up and running in April 2016, after months of delays and cost overruns, an official overseeing the project told AFP.

    Grupo Unidos Por el Canal (GUPC) is carrying out the extensive upgrade to the canal’s system of locks, to allow the waterway to accomodate ships carrying up to 14,000 containers of freight — triple the current size.

    Read more...
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