Record Number of Supertankers Loading at Louisiana Offshore Oil Port

By Collin Eaton HOUSTON, June 3 (Reuters) - Medium-sour crudes from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving way for a record six supertankers to load at the Louisiana Offshore Oil Port (LOOP) in a matter of weeks, according to people familiar with the matter. The six scheduled loadings in late May and early June would double the record of Very … [Read more...]

Saudi Supertanker Fully Laden with American Oil Arrives Off China

A Saudi supertanker carrying the first export cargo from the United States' only port capable of handling the world's biggest oil tankers has arrived off China. According to the website, the Very Large Crude Carrier (VLCC) Shaden has now arrived at an offshore anchorage at the Port of Rizhao. The company has been tracking the Saudi Arabian-owned Shaden … [Read more...]

Supertankers Sailing from U.S. to Cut Time, Money and Traders

By Serene Cheong (Bloomberg) -- Big oil tankers sailing from the U.S. are set to bring along some benefits for refiners in Asia while allowing them to sidestep traders serving the world’s top crude-buying region. The new option to load oil into very large crude carriers at the U.S. Gulf Coast terminal operated by the Louisiana Offshore Oil Port, or LOOP, will reduce costs … [Read more...]

The LOOP’s About-Face on Oil Imports Cues U.S. Drive Into Global Market

By David Wethe and Sheela Tobben (Bloomberg) -- The latest example of America’s turnaround from buyer to supplier in the global oil market can be seen 20 miles off the coast of Louisiana. There, buoys that served as critical infrastructure for bringing crude into the U.S. for more than 30 years are being readied for the exact opposite purpose: pump oil into massive … [Read more...]