Louisiana Light • 2 days | 78.61 | -1.95 | -2.42% | |||
Bonny Light • 1 day | 81.28 | +1.10 | +1.37% | |||
Opec Basket • 2 days | 85.00 | +1.11 | +1.32% | |||
Mars US • 28 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 10 hours | 2.121 | -0.055 | -2.51% |
Bonny Light • 1 day | 81.28 | +1.10 | +1.37% | |||
Girassol • 1 day | 81.92 | +1.12 | +1.39% | |||
Opec Basket • 2 days | 85.00 | +1.11 | +1.32% |
Peace Sour • 1 day | 59.71 | -1.90 | -3.08% | |||
Light Sour Blend • 1 day | 63.56 | -1.90 | -2.90% | |||
Syncrude Sweet Premium • 1 day | 68.16 | -1.90 | -2.71% | |||
Central Alberta • 1 day | 61.71 | -1.90 | -2.99% |
Eagle Ford • 2 days | 72.44 | -1.90 | -2.56% | |||
Oklahoma Sweet • 2 days | 72.00 | -2.00 | -2.70% | |||
Kansas Common • 5 days | 65.00 | -0.75 | -1.14% | |||
Buena Vista • 3 days | 83.98 | +1.45 | +1.76% |
South America’s offshore oil boom,…
The war premium for oil…
Raytheon is a US defence contractor, producing weapons and military electronic devices. Kevin Massengil, the vice president and regional executive, has recently announced that they “are in discussions with at least four countries” from the Gulf of Persia, to supply military sensors which will enable them to track oil leaks back to the offending tanker.
The gulf is one of the busiest trade routes for oil in the world, with billions of dollars passing through each day. That is a lot of oil, and just a few tankers leaking small amounts can add up to a large spill. The interested governments hope that using the sensors will allow them to crack down on the environmental impact that passing tankers have on the local coastline.
Massengil said that “without this kind of technology you will have people who will dump their ballast, to lighten their load, at the mouth of the Arabian Gulf. With this you can trace it back to the individual boat and assess fines properly and you can keep that behaviour at a minimum.” That is the plan.
James Hvzid, vice president of space and airborne systems at Raytheon, last year told Arabian Business that “the (Emirates) Ministry of Environment has made it very clear over the years that it wants to tackle the environmental issue. It is an exciting time to take our technology and work those issues.”
By. Joao Peixe of Oilprice.com
Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build
Second Israel-Linked Vessel Seized in the Gulf of Aden
OPEC Said To Consider Additional 1 Million Bpd Output Cut
OPEC+ Reaches Preliminary Agreement to Deepen Oil Production Cuts
Crude Oil Inventory Balloons but Gasoline, Diesel Inventories Fall
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com