By Javier Blas and Dan Murtaugh (Bloomberg) -- The flood of crude leaving the U.S. could be about to get a major boost: the nation’s top imports terminal is testing one of the industry’s biggest tankers to load an export cargo for the first time. If the trial run signals the start of regular exports from Louisiana Offshore Oil Port, it will be a step change in America’s … [Read more...]
How Soaring US Oil Exports to China are Transforming the Global Oil Game
By Henning Gloystein SINGAPORE, Feb 9 (Reuters) - Bit by bit, the U.S. petroleum industry is turning world oil markets inside out. First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until just two years ago - challenge the last region OPEC … [Read more...]
U.S. Energy CEOs Urge Trump to Fund Port of Corpus Christi Dredging
CEOs of six well-known American energy companies signed a letter addressed to President Donald Trump on Wednesday in support of the Corpus Christi Ship Channel Improvement Project (CIP). The CC Ship Channel Improvement Project will widen the Corpus Christi Ship Channel to 530 feet, plus add additional barge shelves, to allow for two way vessel and barge traffic. It will also … [Read more...]
New Pipeline Scrambles American Crude Imports & Exports
by Devika Krishna Kumar (Reuters) - The Diamond Pipeline has scrambled crude oil flows around the U.S. Gulf Coast and Midwest since it opened in December, cutting supply at the Cushing hub and hammering Louisiana oil prices. The line from Cushing, Oklahoma to Memphis, Tennessee, a joint venture between Plains All American Pipeline LP and Valero Energy Corp, has dented … [Read more...]
U.S. Fuels the World as Shale Boom Powers Record Oil Exports
By Laura Blewitt (Bloomberg) -- The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down. You name it -- crude oil, gasoline, diesel, propane and even liquefied natural gas -- all were shipped abroad at a record pace. While the surge comes many years after the shale boom started, it can be traced … [Read more...]