By Sheela Tobben (Bloomberg) -- Washington’s escalating trade war with Beijing hasn’t choked off the flow of American oil to China. At least six million barrels of U.S. crude set off for Chinese refineries in May, according to ship tracking data compiled by Bloomberg. In June, American shipments to the Asian nation are expected to reach at least 4 million barrels, according … [Read more...]
Carlyle-Backed Firm Seeks Guarantee on 2-Year Approval of U.S. Crude Export Project
By Collin Eaton HOUSTON, May 20 (Reuters) - A unit of asset management firm Carlyle Group LP this week will appeal to the Trump administration to guarantee a two-year approval of its South Texas crude export project, officials said. Carlyle-backed Lone Star Ports LLC is vying to open the first new U.S. crude export facility that can fully load supertankers, which will … [Read more...]
U.S. Suspends Review on Trafigura Oil Export Project -Official
HOUSTON, March 15 (Reuters) - U.S. maritime officials have suspended their review of Swiss trader Trafigura AG's application for a Gulf Coast deepwater terminal while they await additional information, a U.S. Coast Guard official said on Friday. Trafigura is one of four groups seeking U.S. permits to build deepwater oil export facilities capable of fully loading supertankers … [Read more...]
Environmental Review Could Delay Gulf Coast’s First Deepwater Oil Export Project Up to 18 Months
By Collin Eaton HOUSTON, March 14 (Reuters) - A Carlyle Group $1 billion deepwater crude export project faces a delay of up to 18 months after regulators called for a full environmental review, officials said, a setback in the private equity firm's race to be first to open a new deepwater, U.S. Gulf Coast export hub. Carlyle and commodities trader Trafigura AG are vying to … [Read more...]
Why Are Supertankers Hauling Seawater Into The USA?
by Julian Lee (Bloomberg) - Supertankers hauling seawater across the Atlantic? That's just one of the odder results of the U.S. shale boom. Crude oil has always flowed backwards and forwards across the world’s oceans. A typical voyage by one of the global fleet of around 750 of the giant ships currently in service might see it haul Middle Eastern exports across the … [Read more...]