Category Archives: General News

APM Terminals Inland Services, South Asia organizes CSR initiatives under ‘I – Care’

APM Terminals Inland Services, South Asia continues to rollout its “I- Care” CSR master plan to help local communities in India improve their quality of life. Eye and Vision Care camps were established to help improve the lives of people … Continue reading

Posted in General News, Local News | Leave a comment

OPEC Boosts Oil Output as Prices Slide to Four-Year Low

OPEC countries boosted oil output to a 14-month high in October as crude futures sank into a bear market, a Bloomberg survey showed yesterday. Production by the 12-member Organization of Petroleum Exporting Countries climbed by 53,000 barrels a day to … Continue reading

Posted in General News | Leave a comment

Asian buyers line up for Mozambican LNG with new deals

Countries across Asia are quietly reaching deals to import liquefied natural gas (LNG) from Mozambique, which could transform its economy and give it a front-row seat in tapping rising global gas demand. The unannounced agreements, five in total, show how … Continue reading

Posted in Energy News, General News | Leave a comment

Biggest oil price forecast cut since financial crisis

Consumers can expect at least another two years of low oil prices, a Reuters poll showed on Thursday, recording its biggest downgrade to forecasts since the global economic crisis. Oil prices have dropped by a quarter since June, taking benchmark … Continue reading

Posted in General News | Leave a comment

Working to maintain much of the UK’s infrastructure

In 2014 alone, Amey PLC have purchased a large number of Cygnus 2 Hands Free ultrasonic thickness gauges to maintain much of the UK’s infrastructure that people rely on every day. Cygnus Instruments Ltd are the leading manufacturer of multiple … Continue reading

Posted in General News | Leave a comment

India: Coal imports likely to rise by 20% in FY16

India’s coal import is set to go up significantly in the next financial year, with the estimate for 2015-16 at 220-240 million tonnes, against the current year’s projected import of 185-190 mt. In 2011-12, it was a little over 100 … Continue reading

Posted in General News, Local News | Leave a comment

OPEC unable to rebalance oil markets, price to be the leveller: PIRA Energy

NYC-based PIRA Energy Group believes that cyclical strengthening is currently underway in the global economy with the U.S. in a better position to support global growth. In the U.S., stock excess modestly widens. In Japan, crude runs ease, but crude … Continue reading

Posted in General News | Leave a comment

West African crude exports to Asia to rise in November

West African crude oil exports to Asia are set to rise to 1.84 million barrels per day (bpd) in November from 1.72 million bpd planned for October, a Reuters survey of traders found. The survey showed China was set to … Continue reading

Posted in General News | Leave a comment

Standard Chartered expects oil to bounce back above $100 a barrel next year

Standard Chartered expects oil to rebound to more than US$100 a barrel next year amid higher global growth, led by big emerging markets such as China and India. But even if oil prices do not bounce back, the bank says … Continue reading

Posted in General News | Leave a comment

Crude oil to dip further in H1 2015, strong rebound in H2: Barclays

Crude oilBarclays has revised downward their 1H15 price forecasts by about $6, but left 2H15 price forecasts the same on the expectation that lower prices will boost demand and OPEC reduces crude supplies lower than current levels. “After a brief … Continue reading

Posted in General News | Leave a comment

Fall in prices of coking coal, iron ore will aid Indian steelmakers

coking coalThe prices of a wide range of industrial and agricultural commodities have plunged to their lowest since the global financial crisis. While rising supply in the US and decelerating growth in China have dragged down the price of Brent … Continue reading

Posted in General News, Local News | Leave a comment

Oil producers under pressure as crude prices drop

Taiwan’s CPC Corporation and Formosa Petrochemical Corporation announced this week a cut of NT$0.90 (US$0.03) in gasoline prices, the seventh consecutive weekly cut and the largest single-week cut in 18 months. After the price cuts, 92 Research Octane Number (RON) … Continue reading

Posted in General News | Leave a comment

Iron ore giants win 1st round in global battle but knockout unlikely: Russell

There is now no doubt that the big three global iron ore miners are producing record amounts in their bid to dominate the industry. The question remains, what will happen if they succeed? Anglo-Australian giants Rio Tinto and BHP Billiton … Continue reading

Posted in General News | Leave a comment

Don’t Assume Saudi Crude Drop Was Move to Bolster Prices

The drop in Saudi Arabian oil supply last month failed to sway analysts looking for signs OPEC’s biggest producer is seeking to bolster global prices. Brent crude jumped yesterday after a person familiar with the country’s oil policies said the … Continue reading

Posted in General News | Leave a comment

Iraq’s oil exports rising in October despite unrest

Iraq’s oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from OPEC’s second-largest producer. Four months after … Continue reading

Posted in General News | Leave a comment

South Africa’s Richards Bay Coal Exports Poised for Record Year

South Africa’s Richards Bay Coal Terminal, the world’s biggest standalone facility for the fuel, plans record shipments this year after battling a power cut. “We are still on track to ship 72 million tons in 2014” compared with 70.2 million … Continue reading

Posted in General News, Shipping News | Leave a comment

Saudi Arabia supplies less oil in September despite output rise

Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said, at a time when some OPEC members are calling on the top oil exporter to cut back output to lift prices. … Continue reading

Posted in General News | Leave a comment

China iron ore concentrates: Downward pressure from steel output cuts

The Chinese domestic iron ore concentrate price remained flat over the week for the second week in a row, but is expected to be under downward pressure from steel output cuts in north China’s Hebei province because of smog and … Continue reading

Posted in General News | Leave a comment

China steel, iron ore futures widen losses as oversupply weighs

Chinese steel and iron ore futures dropped on Thursday, extending losses from the previous session as growth in supply continued to outpace demand in the world’s top consumer of the two commodities. Amid slowing economic growth in China, demand for … Continue reading

Posted in General News | Leave a comment

JSW Steel to boost iron ore imports by up to 80 percent

JSW Steel Ltd, India’s No. 3 maker of the alloy, said it expects to increase imports of iron ore by up to 80 percent to 900,000 tonnes a month due to a domestic shortage and a slump in international prices. … Continue reading

Posted in General News, Local News | Leave a comment

OPEC needs oil cut of at least 500,000 bpd – Libyan OPEC governor

OPEC should cut its oil output by at least 500,000 barrels per day (bpd), a Libyan oil official said, to tackle oversupply and support prices that have slid to a four-year low. The 12-member Organization of the Petroleum Exporting Countries … Continue reading

Posted in General News | Leave a comment

India Steel output up by 2.5% in September,slight dip in Global output

World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 134 million tonnes (Mt) in September 2014, a slight decrease of -0.1% compared to September 2013. India produced 6.8 Mt of crude steel, an … Continue reading

Posted in General News, Local News | Leave a comment

Indian refiners boost product exports 10% despite slump in European buying

Indian refiners managed to export 10% more oil products in the first eight months of 2014, compared with a year ago, amid an increasingly challenging environment of declining demand and rising competition for the export markets, and despite a 12% … Continue reading

Posted in General News, Local News | Leave a comment

Prices, time, expectations: the oil market’s fuzzy price floor: Kemp

How far do oil prices need to fall to curb the investment in shale production and stem the destruction of demand? As the price of benchmark Brent has plummeted almost 30 percent from $114 per barrel in June to just … Continue reading

Posted in General News | Leave a comment