Louisiana Light • 2 days | 71.80 | -1.73 | -2.35% | |||
Bonny Light • 1 day | 72.36 | -1.43 | -1.94% | |||
Opec Basket • 2 days | 75.19 | -1.69 | -2.20% | |||
Mars US • 8 hours | 67.49 | -1.72 | -2.49% | |||
Gasoline • 14 mins | 2.444 | +0.000 | +0.00% |
Bonny Light • 1 day | 72.36 | -1.43 | -1.94% | |||
Girassol • 1 day | 74.10 | -1.27 | -1.69% | |||
Opec Basket • 2 days | 75.19 | -1.69 | -2.20% |
Peace Sour • 1 min | 62.34 | -1.37 | -2.15% | |||
Light Sour Blend • 1 min | 63.64 | -1.37 | -2.11% | |||
Syncrude Sweet Premium • 1 min | 72.59 | -1.37 | -1.85% | |||
Central Alberta • 1 min | 61.94 | -1.37 | -2.16% |
Eagle Ford • 2 days | 65.94 | -3.21 | -4.64% | |||
Oklahoma Sweet • 2 days | 66.00 | -3.25 | -4.69% | |||
Kansas Common • 2 days | 59.75 | -3.25 | -5.16% | |||
Buena Vista • 9 days | 76.15 | -1.09 | -1.41% |
The U.S. rig count fell…
Putin appears to have lost…
National Shipping Co. and Saudi Arabian Oil Co. (Aramco) have signed an agreement confirming that they will merge their fleets of oil tankers in a deal worth $1.3 billion.
National Shipping will pay $832.8 million and issue 78.8 million new shares at $5.93 to Aramco’s Vela International Marine Ltd. unit, amounting to a 20 percent stake in the company.
The deal will make National Shipping the owner of the fourth largest fleet of crude oil tankers in the world, and the sole transporter of Saudi Aramco products, as confirmed by long-term contracts.
National Shipping’s new fleet will include 20 chemical tankers, 4 refined product tankers, and 16 more tankers under construction. Saudi Aramco said the deal will “expand the ability of Saudi Aramco and the Kingdom to meet future maritime transport needs for its expanding downstream businesses.”
The two companies will sign the final paperwork to complete the merger at the end of 2013. both National Shipping and Aramco are also exploring more ways to increase their cooperation in the shipping industry.
By. Joao Peixe of Oilprice.com
U.S. Gasoline Prices Are Set For A Significant Decline
Iran Seizes Third Oil Tanker As U.S. Boosts Military Presence
Turkey Makes Huge 1-Billion-Barrel Oil Discovery
14,000 Inactive Oil & Gas Wells In U.S. Unplugged
Oil Prices Continue To Slip Even As Crude Oil Inventories Decline
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