Sunday 29 March 2015

Bapco wraps up crucial health and safety audit

Bahrain Petroleum Company (Bapco) has announced the completion of its fifth periodic occupational health and safety (OHSAS) 18001: 2007 external audit, which was done by Bureau Veritas auditors. The audit covered departments including operations, maintenance, engineering, health


Oil prices drop as Saudi output nears record

Oil prices dropped on Tuesday after activity in China's factory sector fell to an 11-month low and as Saudi Arabia said its production was close to an all-time high. The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level t


Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil traders are seeking out storage in order to sell at a p


Three tankers to lift oil at eastern Libyan ports

Three tankers plan to lift 1.7 million barrels of crude from ports in eastern Libya this week, oil officials said on Monday, giving hope to the battered energy sector in the North African country. The OPEC member state's oil sector has been hit by Islamist militant attacks an


Frontier International opens first office in India

Frontier International, a specialist in international oil and gas resourcing, has opened its first office in India. As an integral part of its global growth strategy, Frontier’s new premises signifies further international expansion for the company and will support its incr


China's Iran crude oil imports down 3.7pc

China's crude imports from Iran fell 3.7 per cent in February from a year ago, in line with expectations for the world's second largest crude importer, customs data showed on Monday. The imports last month from Iran were 2.04 million tonnes, or 532,400 barrels per day (bp


Oil drops after Saudi rules out unilateral output cut

Oil prices dropped over a percentage point on Monday after Saudi Arabia said that the market defined prices and the kingdom would not unilaterally cut its output to defend prices. Since oil prices started to fall in June 2014, many analysts have expected Opec's biggest produc


Opec won't bear burden of propping up oil price: Al-Naimi

Opec will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signalling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June. Last November, Organiza

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