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Saudi prince ups pressure with an oil price war as OPEC talks fail

At the OPEC summit last week, the Saudi crown prince called on Russia to reduce their production of oil as the global demand dipped due to the coronavirus pandemic. Oil prices on Monday plunged by 24% which is the steepest drop since 1991. With Russia refusing to cut production Saudi is set to increase its

Oil price instability as drone strikes shock word markets

The recent drone attacks on Saudi Arabia’s oil processing complexes have had a sudden and marked impact on the world’s crude oil prices. With up to 5% of the world’s crude oil supply wiped out in the attacks, this has caused one of the biggest and most sudden shocks to the oil market in recent

Why is the Gall Thomson Marine Breakaway Coupling setting new Industry Standards?

2019 marks the fortieth anniversary of Gall Thomson’s launch of the innovative Flip-Flap Marine Breakaway Coupling (MBC). The device has since been in constant daily use in thousands of locations throughout the world in the toughest of marine conditions. Over a span of four decades, Gall Thomson’s MBC has proven time and again that its

The Wrong Choice of Bunker Port Can be a Costly Mistake for Ship Owners

  Bunkers are amongst the biggest costs of a voyage. Thus, making the right choice can be crucial. While many shipping companies have bunker teams, the choice of bunker usually starts with a chartering manager during early voyage estimation. Before a vessel is open, the chartering managers will assess various voyage options. This usually happens

White Paper FPSO MBC

The effectiveness of Marine Breakaway Couplings in minimising risk to FPSO transfer operations from the perspective of reeled or in-air catenary reeled configurations August 2018 Content Purpose and objectives of this report. Introduction and definition of a FPSO facility. Foreseeable operational risks associated with FPSO loading. Specific product transfer risks from FPSO to Convectional and

Bunkering loading plan and checklist

Bunkering loading plan and checklist The operation of ship’s bunkering changes constantly. It is vital to follow the rules in order that the operation is carried out in the safest way possible. There are so many points it is impossible to include them all. The Bunkering of fuel requires the utmost care to prevent any

How to Prevent Oil Spills during Ship to Ship Fuelling

There have been many cases of oil spillage during bunkering, and this is a cause for concern as the effects of oil spillage are far-reaching. Besides affecting the profitability of the company, oil spillage also has adverse effects on the environment and poses a serious safety hazard as it could lead to an explosion. Utmost

Gall Thomson Launch Most Advanced Marine Breakaway Coupling Yet

Gall Thomson are specialists in Marine Breakaway Coupling technology with over forty years field based operational experience in delivering secure offshore hydrocarbon product transfer. The Marine Breakaway Coupling (MBC) was developed to aid the safe movement of crude oil, heavy fuel oil and similar products. In the event of a vessel breaking its mooring or

The price of oil goes down further after reports of record high U.S. Oil reserves

The price of oil ended up even lower on Wednesday as record high U.S oil reserve figures. Crude stockpiles in the United Sates rose by 1.5 million barrels last week and now stand at 520 million barrels. Even with the OPEC cuts in production and strong compliance at around 94% the price remains low. The

Oil prices rise as Norway threatens strike and Venezuela oil production in crisis

Brent crude futures were trading at $48.95 per barrel and U.S crude has climbed to $48.49 a barrel. There has been a lot of pessimism among oil investors over the last few months and with the Brexit vote oil dropped to 7 week low. However this effect has been short lived as it has become