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Saudi Arabia says some oil producers have reached deal to extend cuts

Offshore:

Oil ministers from Oman and Saudi Arabia have confirmed that oil exporting nations have decided on a preliminary deal to extend the production cap that took effect in January.


BY WAEL MAHDI, MAHMOUD HABBOUSH, AND SAM WILKIN, BLOOMBERG
Published 20.04.17 at 14:56

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Most read Offshore

JP Morgan slashes oil price estimate for the rest of the year

olie-platform.jpg Offshore:

The major bank will now lower its oil price estimates for the third and fourth quarters this year.

John Fredriksen is racing against time to save his empire

Offshore:

A multiple year boom could be coming to an end for the colorful Norwegian shipping magnate John Fredriksen's crown jewel, Seadrill, as the company has turned out to be USD 14 billion in debt and at which a race against time and unsatisfied bond holders has begun.

Media: Maersk invites banks to list oil division

Offshore:

Maersk is looking for a Nordic bank and an international bank to handle the oil division's IPO, reports Danish media Berlingske. The conglomerate has allegedly issued invitations to a series of banks, including Danske Bank.

China investing billions in African LNG projects

Offshore:

Chinese investors are looking to place around USD 7 billion in projects involving floating LNG production facilities, reports Reuters.

Brazilian president charged with accepting bribes

Offshore:

Michel Temer is facing mounting pressure shortly after secret recordings officially drag the president into the Petrobras scandal. He could remain in office despite minimal support from the population,

Norwegian oil companies experiencing huge price decline since the new year

Offshore:

The ten most valuable oil and oil service companies listed in Oslo have had a negative return of NOK 67 billion since the beginning of the year. Statoil accounts for the by far biggest share of the price fall, which is attributed to the unexpected low oil price, writes E24.

Current front page

Maersk confirms: IT crash is caused by hackers

Maersk Line container 1 Container:

A hacker attack has triggered a large-scale crash of Maersk Group's IT systems, the company tells ShippingWatch. It remains unknown how the group's customers will be impacted. APM Terminals has also been struck in ports in the US and Netherlands.

Claus-Peter Offen will spearhead German consolidation

Container:

Just as a wave of mergers and acquisitions has consolidated container carriers in recent years, the many German tonnage owners need to join forces. One of the premier personalities in German shipping, Claus-Peter Offen, tells ShippingWatch that he is ready to spearhead the process.

EU tax negotiations for shipping could last rest of the year

Carriers:

Greece and the EU Commission could possibly spend the rest of the year negotiating the country's taxation of shipowners. The negotiations could affect other EU member states.

Acquisition grows bottom line at Shipping Holding

Services:

Shipping Holding, part of Torben Østergaard's USTC group, achieved growth on the bottom line after a major acquisition in the past fiscal year. More acquisitions are in store for the company.

JP Morgan slashes oil price estimate for the rest of the year

Offshore:

The major bank will now lower its oil price estimates for the third and fourth quarters this year.

China investing billions in African LNG projects

Offshore:

Chinese investors are looking to place around USD 7 billion in projects involving floating LNG production facilities, reports Reuters.

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