Dynagas LNG Partners LP on Tuesday posted $9.6 million in net profit for the first quarter, a decline both sequentially and year-over-year amid lower earnings on forward contracts and higher financing interest. But the downward impact was partially offset by higher travel revenue of $37.263 billion, up more than $4 billion or 12 percent from the first quarter of 2022 and about $2.2 billion between October and December 2022. “This increase is primarily due to the increase in deferred revenue amortization related to the new temporary charter agreement with Equinor ASA for the new occupation of the Arctic Aurora commencing…
Author: Automotivedealernews.com
Gasoline sales volumes in Australia opened 2023 with a quarterly drop of 2.221 billion liters after reaching their highest level since early 2020 in the early days of the COVID pandemic, the regulator reported on Tuesday. the competition of the country. Sales hit a pandemic record 2.333 billion liters in the final quarter of 2022, the year sales settled further after disruptions due to health restrictions, the Australian Competition and Consumer Commission (ACCC) said. in its quarterly report on the oil market. Quarter-on-quarter changes did not exceed five percent last year. “… The COVID-19 restrictions imposed in mid-March 2020 resulted…
A ship channel deepening and widening project in Corpus Christi Bay is in its final innings and about to start making a real impact. Later this summer, a 7-foot-deeper channel at Ingleside will allow terminals to load additional barrels onto VLCCs, assuming they have dredged their berths to match the deeper channel. Deepening the channel to 54 feet (from the old 47 feet) will also allow terminals that have deepened their berths to fully load 1 MMbbl Suezmax, up from the 800-850 Mbbl that can be loaded now. South Texas’ crude oil export economy will get another boost in late…
Patterson-UTI Energy Inc. and NexTier Oilfield Solutions Inc. announced in a joint statement that they have entered into a definitive merger agreement to combine in an all-stock “merger of equals” transaction. Under the terms of the deal, NexTier shareholders will receive 0.7520 shares of Patterson-UTI common stock for each share of NexTier common stock owned, according to the statement, which added that the deal has been unanimously approved by boards of directors of both companies. At closing, Patterson-UTI shareholders will own approximately 55 percent and NexTier shareholders will own approximately 45 percent of the combined company on a fully diluted…
China agreed to another decades-old liquefied natural gas deal with Qatar in a new move to safeguard its energy security. China National Petroleum Corp. signed a 27-year LNG purchase agreement for 4 million tons per year with QatarEnergy on Tuesday. Supply will begin in 2026 and CNPC will take a 5% stake in a production train at Qatar’s North Field East expansion project, the country’s energy minister and head of QatarEnergy Saad al-Kaabi said at a ceremony of signature in Doha. CNPC is looking to strengthen energy cooperation with Qatar during President Dai Houliang’s visit to the Middle East this…
China National Petroleum Corp. cut its forecast for the country’s oil demand this year as the post-Covid economic recovery continues to disappoint. China’s demand is expected to rise 3.5 percent to 740 million tons, Wang Lining, a senior petroleum researcher at CNPC’s Institute of Economic and Technological Research, said at a conference in Beijing on Tuesday. This is below the March forecast of 5.1% growth in 2023. The disappointing economic data has dashed the hopes of traders who were betting that a rebound in China, after the world’s top oil importer abandoned its Zero Covid policy late last year, would…
Oil fell as broader risk-on sentiment overshadowed news of China’s gradual rollout of stimulus measures to help its economy. Global benchmark Brent settled below $76 with traders shunning risk assets. Chinese banks cut their benchmark lending rates on Tuesday, but the country’s gradual rollout of broader measures for its struggling economy is fueling a debate among traders over how far authorities will go to help growth . “This shortened week looks like it could be an ugly week for oil,” said Ed Moya, senior market analyst at Oanda Corporation. Risk aversion appears to have returned to the market amid signs…
TotalEnergies has set the wheels in motion to increase its production of sustainable aviation fuel (SAF), with more than 740 million euros ($808 million) of investment in multiple projects. The move comes in response to calls from its aviation customers. From 2028, the company said it will be in a position to produce half a million tonnes of SAF, adding that this would be enough to cover the gradual increase in the European SAF blending mandate, set at six percent by to 2030. The company said in its statement that it will invest 400 million euros to turn the Grandpuits…
TotalEnergies’ discovery at Ntokon in the Niger Delta is likely to be Nigeria’s biggest shallow water discovery in a decade. That’s what Gail Anderson, director of Upstream Research at Wood Mackenzie, explained in a statement recently sent to Rigzone, adding that the find “shows that there is still a lot of room to run in the shallow waters of the Delta Niger”. In the statement, Wood Mackenzie revealed that it estimates the field could contain resources in the range of 300 million barrels of oil equivalent to 400 million barrels of oil equivalent, based on net pay-as-you-go discoveries of shallow…
If there is something wrong with your vehicle, it might make engine noises or other strange sounds to alert you. While it may be tempting to ignore these noises and hope they go away, this is NOT the best course of action! Now, if you’re a parent, you know what it’s like to play detective to find out what’s wrong with a child who can’t communicate. When you have a baby, for example, it’s often a guessing game to determine exactly what their cries mean, since they can’t verbally tell you what’s going on. The same goes for your vehicle.…