SINGAPORE:
The shutdown in Sudanese oil supply could drive up already record premiums on spot crude markets as top Sudan customers China and Japan scramble for alternatives even as they weigh the impact on oil flows of international sanctions on Iran. 

Power and utilities is a much bigger user of project finance than oil and gas. Oil and gas dependence on project financing is only about 10 per cent while power and utilities is securing 45 per cent, Ernst & Young’s ANDY BROGAN tells PUMMY KAUL

NEW YORK:
Union and oil company negotiators resumed talks after union leaders told workers to prepare for a strike within 48 hours that could shut down 6 percent of US refinery capacity and cause gasoline prices to rise at a time when the country is struggling to sustain a fragile economic recovery. 

NEW YORK:
Chevron reported lower quarterly earnings, missing Wall Street forecasts, as rising spending on oil and gas projects and losses at its US refinery business offset gains from higher crude oil prices.

For applications where it is necessary to heat the process fluid before start-up, Viking pumps now provide the option of electric heating as an alternative to their pumps with jackets, which are heated by the more traditional methods of steam or hot oil. Available on their universal seal cast iron gear pumps with flow rates up to 155 m3/hr, the electrically heated option will suit applications where steam or hot oil is not available or where it’s impractical to install long pipe runs.

LONDON:
The Organization of the Petroleum Exporting Countries (Opec) oil output in January has hit its highest in more than three years, a Reuters survey found, as Gulf Arab producers showed little sign yet of lowering output to make way for rising Libyan supply.