Oil tanker owners are giving up. A 19-month curtailment of OPEC cargoes, and environmental regulations that are proving uneconomical to comply with, have got owners purging the supertanker fleet at the fastest pace since the 1980s, according to Global Marketing Systems Inc., one of the world’s top buyers of obsolete ships for scrap. While the […]

New Delhi: Mexico‘s president-elect announced a $16 billion investment plan Friday to boost flagging oil production, refinery capacity and electrical generation. Andres Manuel Lopez Obrador said Friday the country must act “urgently” to reverse a decline that saw crude output drop to 1.88 million barrels per day in the first half of 2018, down from 3.4 million […]