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...]
Enterprise Expects to Load First Supertanker at Texas City Terminal Later This Month
NEW YORK, June 20 (Reuters) - Seaway Crude Pipeline Company LLC, a joint venture between Enterprise Products Partners LP and Enbridge Inc, plans to load its first supertanker this month at its Texas City marine terminal: * VLCC FPMC C Melody will be loaded with about 1.1 million bbls (2-million-bbl capacity); remaining crude to be transferred in a lightering zone * The … [Read more...]
U.S. Shale Producers Warn Chinese Tariffs Would Hit Energy Exports
By Ernest Scheyder and Collin Eaton HOUSTON, June 20 (Reuters) - China's proposed tariffs on U.S. petroleum imports, part of a mounting trade war between the two countries, would crimp sales to the shale industry's largest customer, adding new pressure on U.S. crude prices, energy executives and analysts said in interviews this week. China has said it would slap a 25 percent … [Read more...]
China’s Tariffs on U.S. Oil to Disrupt $1 Billion Per Month Business
By Henning Gloystein SINGAPORE, June 18 (Reuters) - China's threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month. In an escalating spat over the United States' trade deficit with most of its major trading partners, including China, U.S. President Donald Trump said last … [Read more...]
Shale’s Surge Crashes Into Bottlenecks From Pipelines to Ports
By Alex Nussbaum (Bloomberg) -- The U.S. shale surge is crashing headlong into a barrage of bottlenecks. From West Texas pipelines to Oklahoma storage centers and Gulf Coast export terminals, the delivery system for American crude is straining to keep up with soaring production. That’s limiting the industry’s ability to take full advantage of growing worldwide demand, with … [Read more...]