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One Kurdish Tanker Waits Off Texas, Another Heads to U.S.

As a tanker filled with disputed Kurdish oil sits off the coast of Texas for a fifth day, another shipment may be making its way to the East Coast. The Minerva Joy left Dortyol, Turkey, a port used to export oil trucked from the Kurdish region of Iraq , on July 23 and is due to dock in Paulsboro, New Jersey, on Aug. 11, according to shipping data compiled by Bloomberg. It would be the sixth vessel carrying Kurdish oil to the U.S. Shipping and U.S. customs data show that two of those earlier shipments may have been delivered to LyondellBasell Industries NV (LYB) ’s refinery in Houston. The London-based petrochemical company said yesterday it will stop purchasing Iraqi crude after an ownership dispute arose associated with the recent shipments it purchased. “We have canceled further purchases and will not accept delivery of any of the affected crude until […]

Posted On : Published By : Tom Whipple
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'No U.S. ban' on Iraqi oil, spokeswoman says

There is no ban in the United States on the sale or transfer of oil from any part of Iraq, a spokeswoman for the U.S. State Department said. The crude oil tanker United Kalavryta, carrying 1 million barrels of crude from the Kurdish north of Iraq, is at anchor off the coast of Texas out of U.S. jurisdiction. The federal Iraqi government filed a case in the U.S. courts against the possible unilateral sale of oil from the semiautonomous Kurdish north of Iraq in the U.S. market. Washington has sided with Baghdad in the assertion that sales of Iraqi oil must go through the federal Iraqi government, arguing Kurdish oil sales are in violation of the Iraqi constitution. State Department spokeswoman Marie Harf told reporters Thursday the government’s policy position was clearly in line with Baghdad’s. The issue should be resolved in a manner consistent with the Iraqi constitution, […]

Posted On : Published By : Tom Whipple
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‘No U.S. ban’ on Iraqi oil, spokeswoman says

There is no ban in the United States on the sale or transfer of oil from any part of Iraq, a spokeswoman for the U.S. State Department said. The crude oil tanker United Kalavryta, carrying 1 million barrels of crude from the Kurdish north of Iraq, is at anchor off the coast of Texas out of U.S. jurisdiction. The federal Iraqi government filed a case in the U.S. courts against the possible unilateral sale of oil from the semiautonomous Kurdish north of Iraq in the U.S. market. Washington has sided with Baghdad in the assertion that sales of Iraqi oil must go through the federal Iraqi government, arguing Kurdish oil sales are in violation of the Iraqi constitution. State Department spokeswoman Marie Harf told reporters Thursday the government’s policy position was clearly in line with Baghdad’s. The issue should be resolved in a manner consistent with the Iraqi constitution, […]

Posted On : Published By : Tom Whipple
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U.S. gas prices should continue drop, AAA says

Retail gasoline prices in the United States should be lower for August in part because of higher refinery output, a spokesman for AAA said. The motor club reports a national average price for a gallon of regular unleaded gasoline for Friday of $3.51, nearly 3 cents lower than one week ago and 12 cents cheaper year-on-year. Early season prices had increased in part because of the Sunni-led insurgency in Iraq. On the domestic front, AAA spokesman Avery Ash said gasoline prices were lower in the United States because of the increased production and higher refinery output. "Falling gas prices are nearly the opposite to what we usually see this time of year," he said in a statement Thursday. "Refineries are running at full tilt and there is more than enough gasoline in the market, which has helped bring down prices despite multiple overseas conflicts." Ash said […]

Posted On : Published By : Tom Whipple
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Fifth cargo of Kurdish crude oil from Ceyhan completes loading, heads south

The tanker carrying the fifth cargo of Kurdish crude to load out of the Turkish port of Ceyhan is currently heading south through the eastern Mediterranean with a destination of Port Said in Egypt, according to Platts vessel-tracking software c-Flow. The crude tanker Kamari finished loading its cargo of 1 million barrels of medium sour crude from the Kurdish region of northern Iraq on Thursday. Cardiff Tankers, owners of the Kamari, declined to comment. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API statistics, and much more The flow of crude from Kurdistan has not yet been restarted following the lifting of the fifth cargo, an official from Turkey’s energy ministry said Friday. The official said […]

Posted On : Published By : Tom Whipple
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Chinese local gov'ts to be graded on pollution reduction

Chinese local governments will be graded for their achievements in reducing PM 2.5 and PM 10, both being indicators of air pollution, according to plans unveiled on Friday. Local governments will be graded for two tasks: improving air quality, and preventing air pollution. They will be given percentage grades for both tasks, with 100 as the maximum, according to the plan posted on the website of the Ministry of Environmental Protection (MEP). Reductions of average PM 2.5 and PM 10 density will be the major determinant of governments’ grades for improving air quality. If both density readings rise compared to the previous year, the responsible governments will be graded zero. Governments’ grades on preventing air pollution will be determined by a string of indicators measuring factors including industrial restructuring and clean production. The plan was put forward by the MEP, the National Development and […]

Posted On : Published By : Tom Whipple
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Chinese local gov’ts to be graded on pollution reduction

Chinese local governments will be graded for their achievements in reducing PM 2.5 and PM 10, both being indicators of air pollution, according to plans unveiled on Friday. Local governments will be graded for two tasks: improving air quality, and preventing air pollution. They will be given percentage grades for both tasks, with 100 as the maximum, according to the plan posted on the website of the Ministry of Environmental Protection (MEP). Reductions of average PM 2.5 and PM 10 density will be the major determinant of governments’ grades for improving air quality. If both density readings rise compared to the previous year, the responsible governments will be graded zero. Governments’ grades on preventing air pollution will be determined by a string of indicators measuring factors including industrial restructuring and clean production. The plan was put forward by the MEP, the National Development and […]

Posted On : Published By : Tom Whipple
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Refinery Fire Eases Concern Cushing Stockpiles Will Sink

The announcement that a refinery in Kansas will be shut for longer than expected has eased concern that oil supplies at the main U.S. trading and storage hub will sink to minimal operating levels. The plant in Coffeyville may remain idle for four weeks after a July 29 fire, CVR Refining LP (CVRR) Chief Executive Officer Jack Lipinski said yesterday on an earnings call. The 115,000-barrel-a-day plant receives most of its crude from Cushing, Oklahoma , the delivery point for West Texas Intermediate crude futures traded in New York. Supplies at the hub have fallen by more than half this year. “The shutdown will have a noticeable impact on supply at Cushing,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “Plunging Cushing supplies have been a major supportive factor for WTI. Inventory levels should start to reverse.” WTI for […]

Posted On : Published By : Tom Whipple
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Two LNG export deals get U.S. nod

A facility along the Texas coast was cleared for exports of liquefied natural gas sourced from domestic supplies, the Federal Energy Regulatory Commission said. Freeport LNG Development is to build a plant capable of processing 1.8 billion cubic feet of natural gas per day for exports to countries with and without free-trade agreements with the United States. The federal government must weigh trade to non-FTA countries against the public’s interest. FERC in a statement Thursday said the Freeport LNG is required to adhere to more than 80 conditions to mitigate potential environmental impacts. Supporters of LNG exports say it will be a source of domestic economic stimulus while enhancing U.S. leverage overseas. Opponents say it could lead to higher natural gas prices at home and lead to more hydraulic fracturing, a controversial drilling practice seen as harmful to the environment. Conditional approval was given Thursday by the U.S. Energy […]

Posted On : Published By : Tom Whipple
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Enbridge Sees New Pipeline To US Gulf Operating In October

Enbridge Inc’s new 450,000 barrel-per-day Seaway Twin pipeline, to carry Canadian oil sands crude to North America’s largest refining complex on the U.S. Gulf Coast, will likely start operating in October, the company said on Friday. Enbridge, Canada’s biggest pipeline company, said mid October is most likely when the Seaway Twin will be filled with crude from the company’s new 600,000 bpd Flanagan South pipeline. Seaway Twin will carry crude from Cushing, Oklahoma, to oil tanks near Houston, and although the pipeline was mechanically completed in early July, it will not start operating before Flanagan South, which will run from Illinois to Cushing, is finished in early October. Traders have been closely monitoring the progress of the two pipelines, which will give Canadian oil sands producers another direct link to the Gulf Coast. "The plan had been, and still is, to do line fill for […]

Posted On : Published By : Tom Whipple