Anticipated winter demand and the threat of supply disruptions from potential strikes in Australia are...
Anticipated winter demand and the threat of supply disruptions from potential strikes in Australia are pushing up rental costs for liquefied natural gas tankers, with spot rates in the Pacific region crossing $100,000 per day for the first time since January, Spark Commodities data show. "There isn't a lot of new LNG coming to the market near-term, which means the market will stay tight," said Flex LNG CEO Oystein Kalleklev.
Nabors has completed a project to electrify Hess' four-unit drilling fleet in the...
Nabors has completed a project to electrify Hess' four-unit drilling fleet in the Bakken Shale that involved establishing a direct connection to the utility grid.
The conversion is projected to halve greenhouse gas emissions, cut energy costs by 70% and reduce downtime, noise and truck traffic at Hess' Bakken operations in the coming five years.
Saudi Arabia sets its sights on Britain’s military jewel
Oil pumps have long dotted Saudi Arabia’s desert landscape,...
Oil pumps have long dotted Saudi Arabia’s desert landscape, but they could soon be joined by a raft of factories.
Crown Prince Mohammed bin Salman wants to turn the country into the Gulf’s manufacturing powerhouse as it moves away from oil and gas.
The heir to Saudi Arabia’s $2 trillion throne wants to increase industrial exports to $148bn (£116bn) by 2030, tripling factory numbers to 36,000 by 2035 which will churn out everything from warships to cars.
Now, he has his sights set on another lucrative, albeit expensive and notoriously complex market– fighter jets.
Iran's foreign minister visits Saudi Arabia's powerful crown prince as tensions between rivals ease
DUBAI, United Arab Emirates (AP) — Iran's foreign minister met Friday with Saudi Arabia's Crown Prince...
DUBAI, United Arab Emirates (AP) — Iran's foreign minister met Friday with Saudi Arabia's Crown Prince Mohammed bin Salman as part of his visit to the kingdom, a sign of how the two countries are trying to ease tensions after years of turmoil.
Since reaching a Chinese-mediated détente in March, Iran and Saudi Arabia have moved toward reopening diplomatic missions in each other's countries.Saudi King Salman has even invited Iranian President Ebrahim Raisi, a hard-line protégé of Khamenei, to visit the kingdom as well.
The ruling is the latest development in the fight over the proposed Uinta Basin Railway, an 88-mile (142-kilometer) railroad line that would connect oil and gas producers in rural Utah to the broader rail network, allowing them to access larger markets and ultimately sell to refineries near the Gulf of Mexico. The railroad would let producers, currently limited to tanker trucks, ship an additional 350,000 barrels of crude daily on trains extending for up to 2 miles (3.2 kilometers).
Additionally, communities in neighboring Colorado including Eagle County and the city of Glenwood Springs — which filed a brief in support of the lawsuit — are worried about safety and potential train derailments. Oil trains would link from the proposed new Uinta Basin line to the common carrier network throughout the country, including through Colorado.
