Rising U.S. Crude Output Sparks Race to Build Export Terminals

By Jarrett Renshaw and Collin Eaton NEW YORK/HOUSTON, Oct 30 (Reuters) - A high-stakes competition is emerging among energy exporters proposing multi-million-dollar crude terminals along the U.S. Gulf Coast to handle a gusher of shale oil coming from West Texas oilfields. On Monday, private equity firm Carlyle Group became the latest to place a bet, proposing with the Port … [Read more...]

U.S. Oil Exports to Asia May Fall Further After Surge in Tanker Rates

By Florence Tan and Jessica Jaganathan SINGAPORE, Oct 11 (Reuters) - Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday. Freight rates for tankers that carry crude oil have soared globally, buoyed by … [Read more...]

Supertanker FPMC C Melody Arrives at Texas City Terminal to Load Crude

A supertanker that has been scheduled to load crude oil at Enterprise Products Partners LP's Texas City marine terminal for export arrived was escorted into port on Thursday.  The Very Large Crude Carrier, FPMC C Melody, was expected to load about 1.1 million barrels, a little more than half the tanker's 2-million-barrel capacity.  The VLCC has … [Read more...]