1.Shell and Bank of Communications Financial Leasing started a cooperation on 12 dual-fuel LR2 tankers with a total contract value of nearly US $ 650 million.
2.A multinational consortium led by the state-owned China Petroleum Pipeline Engineering, a unit of CNPC, has been awarded a contract for the construction of an LNG terminal at Vassiliko Port in Cyprus.
3.The market expected a new coronavirus-induced 1 million-barrel-per-day (b/d) production cut from OPEC+, the coalition of OPEC and participating non-OPEC nations.
4.Trading has been temporarily halted on Wall Street as oil price plunge and coronavirus fears cause stocks to plummet in early trading.
5.Andes Petroleum Ecuador LTD. of China National Oil and Gas Exploration and Development Corporation (CNODC),has put two new oil wells into production in the province of Orellana, Ecuador.
6.In the last few days, China has registered a decline of 25% in the carbon dioxide (CO2) emission after many industries and factories remained un-operational due to coronavirus (COVID 19) outbreak.
7.Another Princess cruise ship Caribbean Princess has been held up due to concerns about the possibility of coronavirus infections on board.
8.China — the world’s largest soybean purchaser — bought 13.51 million mt of beans in January and February, up 14.2% year on year, China’s customs data showed Saturday.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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