U.S. Gulf Coast Crude Exports Are Breaking Records
Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as refining capacity Continue Reading
U.S. Gulf Coast crude oil exports to touch record high this quarter
Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (bpd) this quarter, analysts said on Monday, as Europe chases U.S. crude Continue Reading
Russian Crude Flows Slump, But It’s Likely to Prove Temporary
Russia’s seaborne crude exports plunged last week, but the drop probably doesn’t indicate that sanctions are starting to bite. Flows from Russian ports were down week-on-week by 20%, falling to Continue Reading
Russia Looks To Lure Asian Buyers With Higher Quality Crude
Russia has improved the quality of its flagship Urals crude grade in the past two months, making it lighter and sweeter, and even more attractive for buyers in Asia who Continue Reading
U.S. Crude Exports Boom Amid Recovering Global Demand
U.S. crude oil exports have jumped in recent weeks as America leads supply growth amid steady and resilient global demand, according to commodity analytics provider Kpler, cited by Reuters . Continue Reading
Port of Corpus Christi crude shipments up 65% in 2020, sees record tonnage
The Port of Corpus Christi saw a 65% increase in crude shipments in 2020 to 96.4 million mt, leading to a record tonnage throughput of 159.7 million mt in a Continue Reading
U.S. oil-export projects stall as output slips, opposition builds
The coronavirus pandemic has stalled a once-furious race among energy companies to build deepwater oil export terminals off the Texas coast, amid permitting delays and rising environmental opposition. Only three Continue Reading
US Oil Exports Can Compete at $30 Break-Even
Asian economies that appear to have a handle on the initial macroeconomic destruction caused by COVID-19 also happen to be prolific buyers of U.S. light sweet crude. The near-term economic Continue Reading
US crude exports jumped back over 3 million b/d last week, exports to China remain strong
VLCC rates fall in recent weeks, contango easing US crude exports jumped back over 3 million b/d last week, for the first time in a month as exports to China Continue Reading
Texas Oil-Export Terminals Start Up Even as Shipments Tumble
Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude. Buckeye Partners LP expects to start loading ships with oil for Continue Reading
Port of Corpus Christi sees crude exports plunge 35% and counting
Crude oil shipments from the United States’ top oil-exporting hub have plunged 35% since the first quarter with more declines expected this summer as the impacts of the coronavirus pandemic Continue Reading
U.S. economy faces historic shock, with 16% joblessness possible: Trump adviser
The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that likely will push the national unemployment rate to 16% or higher this Continue Reading
US Crude Oil Exports Surge To 3 Million Bpd In 2019
Surging shale production and growing global demand for light low-sulfur oil helped U.S. crude exports to soar by 45 percent year on year in 2019, reaching an average of 2.98 Continue Reading
America’s Days as Net Oil Exporter Are Numbered Amid Price Rout – Bloomberg
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers. The U.S. only in Continue Reading
US Crude Oil Exports Increase 45 percent in 2019
The U.S. Energy Information Administration revealed Wednesday that U.S. crude oil exports averaged 2.98 million barrels per day last year. The U.S. Energy Information Administration (EIA) revealed Wednesday that U.S. Continue Reading
China’s Floods The Market With Fuel As Coronavirus Shatters Local Demand
China’s fuel exports are booming amid battered domestic demand due to the coronavirus outbreak, analysts and trade sources tell Reuters as higher Chinese exports flood the Asian market, which sees Continue Reading
China’s oil product exports likely flat in Feb, to jump in Mar as coronavirus dampens domestic demand
China’s oil product exports are likely to be flat in February, compared with January, as there was not much room to make changes to planned exports, but volumes are expected Continue Reading
US Oil Export Story Has Really Just Started
All told, the US could become the largest crude oil exporter within five years. While U.S. crude oil production has soared 160 percent to 13 million b/d in the shale-era Continue Reading
US crude export outlook falls 300,000 b/d for 2020 on Gulf Coast refiner demand
US crude oil exports will average 3.6 million b/d in 2020, a growth of 650,000 b/d from 2019 but 300,000 b/d lower than previously expected on slower production growth and Continue Reading
US Returns to Being a Net Oil Exporter
Two factors could directly affect the future level of US crude exports. Thanks to the shale oil revolution, for the first time since the 1940s, the United States exported more Continue Reading
EPIC’s new Corpus Christi dock loads first US crude export cargo; second expected Saturday: company
The first US crude export that loaded earlier this week at a newly converted grain dock in Corpus Christi, Texas, was spotted Wednesday bound for the United Kingdom. Receive daily Continue Reading
Texas Deepwater Oil Port Project Advances
Enbridge will gain an option to purchase a stake in Enterprise’s Sea Port Oil Terminal if the offshore Texas project wins a deepwater port license. Enbridge Inc. and Enterprise Products Continue Reading
US is net exporter of oil for first time in decades
The US has cemented its status as a net exporter in world oil markets, a sharp reversal from past years that could affect its ties to foreign allies. The top oil Continue Reading
China’s Oct gasoline exports hit new high, gasoil falls to 13-month low
China’s gasoline exports surged 168.4% year on year to hit a fresh high of 1.73 million mt in October, but gasoil outflow fell to a 13-month low of 1.19 million, Continue Reading
Endless Economic Wars: A Major Threat For U.S. Oil Exports
The 5-percent tariffs China imposed on U.S. crude oil imports two months ago could challenge the growth prospects of overall exports, economists gathered for an industry event have warned. “China’s Continue Reading
US role as net oil exporter complicates emergency stock requirements
The US this month will again be the world’s largest oil consumer, but also a net petroleum exporter for this first time, a historic shift that may complicate international requirements Continue Reading
Feature: USGC crude exports flowing despite 128% VLCC freight spike
Total volumes of US-origin crude exports are expected to see minimal impacts from spike in US Gulf Coast-loading VLCC freight rates of more than 128% since September 25, as a Continue Reading
US Crude Exports Expected to Double by 2022
U.S. crude exports are expected to reach nearly six million bpd by 2022, according to Rystad Energy. The U.S. could see its crude oil exports nearly double by 2022, according Continue Reading
The US Oil Export Boom Is Only Just Getting Started
U.S. crude oil exports jumped by nearly 1 million bpd in the first half of 2019 from the same period in 2018 to average 2.9 million bpd between January and Continue Reading
API: Trade War Already Hurts U.S. Energy Exports
Donald Trump has threatened to continue escalating the United States’ trade war with China by introducing another round of tariffs on exports from the world’s second-largest economy. This time the Continue Reading
U.S. Oil Exports Rising Amid Middle Eastern Turmoil
The average day rate for modern VLCCs, used to ship crude and petroleum products, has risen 69% to $30,759 since tensions flared in the strait earlier this month, according to Continue Reading
U.S. refiner Phillips 66 enters offshore oil export race: document, source
U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, challenging at least eight other projects aiming to send U.S. shale oil to Continue Reading
Heavy Crude Shortage Pushes Louisiana Export Loadings To Record High
As many as six Very Large Crude Carriers are loading and due to load crude oil for export at the Louisiana Offshore Oil Port, Reuters reports , citing unnamed sources Continue Reading
US energy department rebrands gas exports ‘molecules of freedom’
US energy officials appeared to rebrand natural gas produced in the country as “freedom gas”, in a statement announcing an increase in exports. The US Department of Energy said the Continue Reading
The Energy 202: Trump administration’s ‘molecules of U.S. freedom’ come with a cost
“Molecules of U.S. freedom.” “Freedom gas.” That’s the latest way the Trump administration has decided to describe fuel that oil and gas companies are selling abroad. Both of those turns Continue Reading
Oil Tanker Collision In Houston Causes Leak, Closes Critical Port
A collision between an oil tanker and a tug boat in the Houston Ship Channel on Friday caused a capsizing and an oil derivative leak. The tug boat, according to reports, Continue Reading
Houston Ship Channel partially open to traffic; inbound queue of vessels mounts
The Houston Ship Channel remained partially open to both inbound and outbound traffic Monday, three days after a collision between a tanker and a tug shut the key waterway, a Continue Reading
Booming Oil & Gas Help Texas Exports Grow 3 Times Faster Than U.S. Average
The value of exports of oil and gas from Texas jumped by 45 percent, CNBC reports , citing data from trade research firm WISERTrade. The value of Texas’ petroleum and Continue Reading
Refinery margin tracker: US poised to be net exporter of gasoline this summer
US refining margins trended higher last week, pulled up by refinery outages and lower gasoline stocks on the cusp of the summer driving season, an analysis by S&P Global Platts Continue Reading
Supertanker Loads American Oil Without Nearing US
A supertanker filling up with crude in the Gulf of Mexico is routine these days. Less so is a supertanker loading American oil without coming within 1,000 miles of the Continue Reading
U.S. Doubles Oil Exports In 2018
The United States nearly doubled its oil exports in 2018, the Energy Information Administration reporting on Monday, from 1.2 million barrels per day in 2017. The 2.0 million barrels of Continue Reading
Key Buyers Push US Oil Exports to Record Highs
Total weekly U.S. crude and product exports should be consistently outpacing imports starting in 2020. Constantly evolving hydraulic fracturing and horizontal drilling technologies have opened up more U.S. petroleum resources Continue Reading
US Coast Guard rescinds Houston Ship Channel contamination zone draft limitation
The US Coast Guard has rescinded a 34-foot draft limitation on shipping in a Houston Ship Channel contamination zone between Tucker’s Bayou and Light 116 and resumed two-way traffic for Continue Reading
US offshore oil, gas plan will be winnowed down: Interior nominee
The Trump administration’s plan to expand offshore oil and gas leasing to nearly all federal waters will be “winnowed down,” potentially in response to opposition from governors of coastal states, Continue Reading
Carlyle takes step forward on $1 billion U.S. oil-export project
A proposed $1 billion deepwater oil-export project moved ahead on Thursday with U.S. private equity firm Carlyle Group agreeing to a 50-year lease on land near Corpus Christi, Texas, for Continue Reading
From Texas to the World: Surge of US Oil Exports On the Way
Oil trader Paul Vega is at the vanguard of shale’s next revolution. Driving his pick-up truck through the heartland of the Permian basin — the vast tract of west Texas scrub Continue Reading
U.S. ‘’Oil Weapon’’ Could Change Geopolitics Forever
In a dynamic that shows just how far U.S. oil production has come in recent years, the U.S. Energy Information Administration (EIA) said on Monday that in the last two Continue Reading
Exclusive: Environmental review could delay Carlyle deepwater oil export project up to 18 months
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 Continue Reading
CERAWeek: Port of Corpus Christi to load Aframaxes, Suezmaxes for export by October 2020
The Port of Corpus Christi should be able to load Aframaxes, Suezmaxes and partially loaded VLCCs to export US crude to international markets by October 2020, an executive with The Continue Reading
Exclusive: Occidental emerges as heavy hitter in U.S. oil export boom
Occidental Petroleum Corp has emerged as one of the biggest exporters of U.S. shale oil, rivaling large trading firms and oil majors, in a market now worth more than $150 Continue Reading