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brent

Video

Video: Huge ship slated for Brent Delta topside lift sails away from Rotterdam

The huge crane ship booked to lift the Brent Delta topside away in one piece left Rotterdam at the weekend ahead of offshore trials. Allsea’s twin-hulled Pioneering Spirit had been moored in Rotterdam since January 2015 for installation, commissioning and testing of the topsides lift system. If the southern North Sea trials go to plan, the vessel’s first job will be to remove the 13,500 tonne Yme mobile offshore production unit off Norway for Repsol.

Markets

Oil extends gain as Iran backs output freeze without vowing cuts

Oil extended gains above $31 a barrel as Iran supported a proposal by Saudi Arabia and Russia to freeze production at near-record levels, without saying whether it would curb its own output. Futures climbed as much as 3.5 percent in New York after rising 5.6 percent Wednesday. Iran backs any measures to stabilize markets including the output cap, Oil Minister Bijan Namdar Zanganeh said after talks with Qatar, Iraq and Venezuela, according to a report from the Shana news service.