01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Europe

Markets - Energy - Europe

Statoil stops Sikorsky S-92 helicopter flights, leaving offshore workers stranded OSLO/LONDON: Norway's Statoil has stopped all flights of its Sikorsky S-92 helicopters for safety checks, leaving oil workers stranded on offshore platforms for at least a couple of days, the company said on Tuesday.The Sikorsky Aircraft Corp, which manufactures the helicopters, issued a service notice on Tuesday, saying the tail rotor and bearing assemblies of the S-92 should be checked following an incident in Scotland last December. Sikorsky is a unit of Lockheed Martin Corp. "All 13 S-92 helicopters were grounded after a note from the manufacturer today. We are prepared for inspections to take a couple of days," a Statoil spokesman said. "This means some delays in replacing people on the oil platforms, but production hasn't been affected," he added. The Norwegian state-controlled oil company stopped using Airbus's H225 Super Puma helicopters after a fatal crash off Norway last April, leaving the S-92 as the only model for transporting ...

Markets - Energy - Europe

Oil prices steady after recent falls on weaker dollar LONDON: Oil prices stabilised on Tuesday after a sharp sell-off as a fall in the dollar triggered a bout of short-covering, but analysts said the market remained vulnerable to further falls. Rising oil prices through December encouraged investors to buy large volumes of crude oil futures contracts and many of these "long" positions are likely to be unwound unless the market stays strong, analysts and brokers say. "I see this as a dead cat bounce," ...

Markets - Energy - Europe

Oil prices edge up on OPEC hopes, but doubts linger LONDON: Oil prices edged higher by mid-morning on Friday as signs of output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases aimed at curbing global oversupply. Brent crude futures, the benchmark for international oil prices, were trading at $57.34 per barrel at 1033 GMT, up 45 cents from the previous close. In the United States, West Texas Intermediate (WTI) crude futures were at ...

Markets - Energy - Europe

W. Africa Crude-BPCL takes Nigerian, China snaps up Angolan LONDON: Chinese demand for Angolan crude continued apace, and another Indian refiner booked Nigerian oil via a tender, but other spot trading was relatively quiet. Outright prices for West African crude slipped along with benchmark dated Brent, which was trading 3 percent lower on word that OPEC member Iraq marked record exports from its southern Basra port in December despite an OPEC commitment to cut overall output. Angolan state oil company Sonangol has cut output ...

Markets - Energy - Europe

West African oil loading for Asia to slip in January LONDON: West African crude loading for Asia is expected to slide more than 10 percent in January as some buyers opt for regional grades or cargoes in floating storage, a Reuters survey of traders and shipping data showed on Thursday.Some 1.808 million barrels per day (bpd) are scheduled to load from Nigeria, Angola, Ghana and other West African producers over the coming month, down from December's 17-month high of 2.1 million bpd.Demand was still good, ...