Korea Oil & Gas
South Korea Dominates LNG Shipbuilding
The liquefied natural gas (LNG) carrier orders received by South Korean shipbuilders have more than tripled from last year.According to Reuters, the three South Korean yards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries and Samsung Heavy Industries - have won the more than 50 orders for ships carrying LNG, with a total value of $9 billion.According to Clarkson, a shipbuilding research company in the U…
Equinor Lines Up Floating Wind in S.Korea
Equinor and South Korea's state-owned National Oil Corporation (KNOC) will explore opportunities to develop commercial floating offshore wind farms in South Korea, the Norwegian company said on Friday.South Korea aims to reduce its dependence on nuclear and coal power…
U.S. Sanctions Russian Firms, Vessels Over N. Korea Oil Transfers
The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of U.N. restrictions.The U.S. Treasury…
S.Korea LNG Imports Set to Ease from Record
South Korean imports of liquefied natural gas are set to ease from record levels racked up in the first-half of the year, with appetite for the fuel from utilities seen fading as a raft of nuclear power stations come back online.The country's…
Russia's Novatek, S.Korea's Kogas Sign LNG Agreement
Russian energy company Novatek and South Korea's state-run Korea Gas Corp (KOGAS) signed an agreement on liquefied natural gas (LNG) cooperation after talks between Russian President Vladimir Putin and his South Korean counterpart, Moon Jae-in…
UN Seeks Traders' Help Enforcing North Korea Sanctions
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said.The U.N. Security Council ramped…
S.Korea Fuel Oil Imports Soar
South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand…
Oil Rises as Korea Talks Boost Confidence
IEA sees strong global oil demand growth to 2023. Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U…