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Oil price surges after Opec action but shale could spoil the party
The Business TimesSingapore OIL-AND-GAS stocks on the Singapore Exchange (SGX) rallied on Thursday, after oil cartel Opec beat expectations by agreeing to cut output by 1.2 million barrels a day for the first six months of 2017. Non-Opec countries are expected to join in with another 0.6 million-barrel cut. Rig builders Keppel and SembMarine, liftboat provider Ezion and other struggling names like contractor Ezra, explorers KrisEnergy and Rex International, and ... Read More
Sing Swee Bee, Gabadi to enter small-scale LNGV market
The Business Times SINGAPORE'S largest cryogenic equipment provider has tied up with the first outfitter licensed by leading liquefied natural gas (LNG) tank technology provider, Gaztransport & Technigaz (GTT) to pursue construction and repairs of LNG vessels (LNGVs).This came within two months from IE Singapore's call on oilfield services companies to position themselves to tap opportunities in the adjacent LNG market.Private-owned Sing Swee Bee (SSB) and Spai... Read More
Oil prices tumble as doubts over planned crude output cut rise
REUTERSSingapore Oil prices fell over 1 per cent on Monday, extending declines from last Friday as doubts re-emerged over the ability of major producers to cut output at a planned meeting on Wednesday aimed at reining in global oversupply. Brent crude futures were trading at US$46.40 per barrel at 0035 GMT, down 84 US cents, or 1.8 per cent, from their last close. US West Texas Intermediate (WTI) crude futures were down 74 US cents, or 1.6 per cent, at US$45.32 a... Read More