An offshore supply vessel in Egypt's Port Said. File Photo: BigRoloImages /

Egypt Keeping Eni’s Giant Offshore Find for Itself

  By Maher Chmaytelli (Bloomberg) — Egypt plans to keep all the natural gas produced at a giant field Eni SpA found off its Mediterranean coast to itself, heightening competition among gas producers in the Middle East and Africa. “This field is now in competition with the ones in Cyprus, Israel, Mozambique, Tanzania and Iran,” […]

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Photo: Shutterstock/Nightman1965

World’s Top Oil Trader Sees $40-$60 a Barrel in 2016

  By Javier Blas and Will Kennedy (Bloomberg) — Oil prices will remain at $40 to $60 a barrel into 2016 as rising crude supplies overwhelm demand, according to the world’s largest independent oil trader. The oil-production surplus means stockpiles will keep expanding for “the next few quarters” and excess inventories won’t clear until 2017 […]

The Coast Guard Cutter Polar Star is the United States only operational heavy icebreaker. U.S. Coast Guard Photo

President Obama Wants More Heavy Icebreakers

  By Roberta Rampton ANCHORAGE, Alaska, Sept 1 (Reuters) – President Barack Obama on Tuesday proposed a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic, and the United States has fallen far behind Russian resources. The move, part of a push […]

MyFerryLink car and passenger ferries cross outside the harbour in Calais, northern France, June 24, 2015. REUTERS/Christian Hartmann

Deal Reached in MyFerryLink Dispute

  PARIS, Aug 31 (Reuters) – A deal was reached on Monday to save hundreds of ferry jobs at the northern French port of Calais, the French transport minister said, ending a dispute that has disrupted traffic through the Channel Tunnel linking France and Britain. Workers at ferry service MyFerryLink had intermittently blocked the port […]

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Photo shows the pirates painted over the name of the vessel, changing it to KIM HARMON. Photo: Royal Malaysian Navy

Orkim Harmony Pirate Mastermind Caught

The suspected mastermind behind the hijacking of an Orkim product tanker earlier this year off Malaysia has been arrested outside Indonesia’s capital city of Jakarta. Indonesian media and the Navy reported Monday the arrest of Albert Yohanes, a man suspected of being the mastermind behind the hijacking drama of the MT Orkim Harmony in June. […]

File photo (c) Eni

‘Historic’ Zohr Gas Discovery Off Egypt Re-Writes Israel’s Energy Playbook

  By Ari Rabinovitch and Eric Knecht JERUSALEM/CAIRO, Aug 31 (Reuters) – Egypt’s historic gas discovery threatens to sink Israel’s fledgling gas export bonanza, which was counting on deals with Cairo to get it off the ground. Italian oil company Eni stunned markets on Sunday after declaring the Mediterranean’s biggest-ever and the world’s 20th largest […]