A cluster of ships with American oil has been heading to a small terminal in southern Ireland as buyers search for places to store crude in the wake of a global demand slowdown.
South Korea has run out of commercial storage space for oil, according to people with knowledge of the matter, a development that’s likely to intensify a global scramble for tankers to store crude and fuels.
Two major West of Shetland development projects are gathering momentum, with Houston-based INTECSEA having secured the facilities engineering services contract for the first stage of Chevron-operated Rosebank/Lochnagar, while Doris has started front-end engineering for Total-operated Laggan/Tormore.
