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
U.S. Will Soon Export More Oil, Liquids Than Saudi Arabia
In a pivotal geopolitical shift, the United States will soon export more oil and liquids than Saudi Arabia. This remarkable turnaround is made possible by the continued rise in oil Continue Reading
US to Export More Oil, Liquids than Saudi Arabia in 2019
The U.S. is poised to export more oil and liquids than Saudi Arabia by year-end, according to Rystad Energy. The shift, Rystad explains, comes from continued rising production from U.S. Continue Reading
First Floating U.S. LNG Project Continues Despite US-China Trade War
The first U.S. floating liquefied natural gas (LNG) project continues to plan future steps in its progress despite the U.S.-China trade war, a top manager at one of the project’s Continue Reading
Supertanker Rates Soar As U.S. Oil Exports Hit All-Time High
The all-time high U.S. crude oil exports have been pushing demand and rates for very large crude carriers (VLCCs) higher since the middle of February as American exports are attractive Continue Reading
How Sanctions Are Helping The U.S. Become A Net Oil Exporter
It’s easy to forget now, but just a few short years ago the United States was the biggest oil importer in the world by a considerable margin, and sold exactly Continue Reading
Sentinel plans U.S. oil export terminal off Freeport, Texas
Sentinel Midstream on Monday became the latest contender in the race to build a crude export terminal off the U.S. Gulf Coast, announcing plans to develop a facility off Freeport, Continue Reading
U.S. Energy Exports To See Significant Increase
The Energy Information Administration has released its Annual Energy Outlook (AEO) 2019 with projections to 2050 . The purpose of the AEO is to provide long-range energy projections for the Continue Reading
US crude exports to Asia to swell in Mar, Apr on cheaper freight
US crude exports to Asia are set to swell over March and April as a drop in freight rates makes US cargoes more competitive against barrels from Asia or the Continue Reading
GOM Oil Export Growth Hurts US Refiners
Crude exports from the Gulf of Mexico are picking up at the worst time for American refiners. Rising production and falling freight rates are behind a surge of overseas shipments Continue Reading
Magellan eyes Freeport, Texas as spot for crude export terminal
Magellan Midstream Partners LP has begun talks with companies developing crude transportation assets in Freeport, Texas, as it considers building a U.S. crude export terminal there instead of its previously Continue Reading
US Crude Oil Exports Continue to Grow
The US DOI now reports that domestic crude production could surge to 14 MMbpd by 2020. U.S. crude oil exports have soared due to a combination of: rising domestic crude Continue Reading
EIA Sees The U.S. Becoming Net Oil Exporter In Q4 2020
Continuously rising U.S. shale production will make the United States a net exporter of crude oil and petroleum products in the fourth quarter of 2020, the EIA said in its Continue Reading
U.S. Oil Shipments To Asia Set To Rise Soon
A combination of lower shipping costs and lower domestic demand will boost U.S. crude oil exports to Asia, Reuters reports , citing sources from the commodity trading and shipping industries. Continue Reading
U.S. oil export boom sparks a battle to build Texas ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next Continue Reading
U.S. Army Joins Race To Expand U.S. Oil Exports
The news that the U.S. Army Corps of Engineers has placed a US$93-million order with Great Lakes Dredge & Dock Company for the deepening and widening of its ship channel Continue Reading
U.S. oil exports to Asia set to rise in second-quarter as freight costs fall
U.S. crude oil exports to Asia are set to rise in the second quarter as sellers cut prices following sharp drops in freight rates and expected weaker demand in the Continue Reading
$92MM Corpus Christi Dredging Contract Awarded
A project to make the Corpus Christi Ship Channel (CCSC) more accessible has taken a major step forward. A project to make the Corpus Christi Ship Channel (CCSC) more accessible Continue Reading
U.S. crude flows to Europe hit 11-month low in December
U.S. crude exports to Europe fell to an 11-month low this month as a shrinking discount and rising shipping costs squeezed demand for U.S. barrels, according to Refinitiv Eikon data Continue Reading
Analysis: US crude inventories static as rising production balances export surge | S&P Global Platts
US crude supply was little changed week on week as an uptick in production was matched by sharply higher exports last week, US Energy Information Administration data showed Friday. US Continue Reading
Occidental loads first VLCC on USGC-Europe voyage; three more planned
Occidental Petroleum on Thursday is loading Permian Basin crude onto a VLCC at the Moda Ingleside Energy Center near Corpus Christi, Texas, with three more VLCCs booked to follow through Continue Reading
Fight Brews in Houston’s Port Over Energy Exports
Accommodating both sides poses a challenge for Port Houston, which has grown thanks to its hometown energy industry but has recently invested hundreds of millions in new infrastructure to attract Continue Reading
Louisiana Offshore Port Ships Most Oil Ever on Supertankers
The Louisiana Offshore Oil Port is pushing out the most crude it’s shipped in any one month since the terminal began supertanker exports in February. As the race to build Continue Reading
In major shift, U.S. now exports more oil than it ships in
The United States last week exported more crude oil and fuel than it imported for the first time on record, according to data released on Thursday, the same day OPEC Continue Reading
U.S. Becomes Net Oil Exporter For First Time In 75 Years
The United States became a net oil exporter last week for the first time in 75 years , and even if it is likely to be for just one week, Continue Reading
Louisiana Port Developers Acquire Site
The Plaquemines Liquids Terminal would open up to 20 million barrels of storage for both crude oil and refined products and export facilities capable of loading Suezmax and VLCC vessels. Continue Reading
Does U.S. Oil Really Need More Oil Export Terminals?
When U.S. crude oil exports earlier this year hit a record high of 3 million bpd, there was much joy and back-slapping, but amid this joy a few problems have Continue Reading
Rising U.S. crude output sparks race to build export terminals
A high-stakes competition is emerging among energy exporters proposing multi-million-dollar crude terminals along the U.S. Gulf Coast to handle a gusher of shale oil coming from West Texas oilfields. On Continue Reading
First USGC onshore VLCC terminal to be developed on Harbor Island by end-2020
The Port of Corpus Christi and global alternative asset manager Carlyle Group agreed to develop the first onshore VLCC loading terminal at Harbor Island by the end of 2020, the Continue Reading
U.S. Gulf Coast Crude Exports Fall As Freight Costs Surge
U.S. Gulf Coast crude oil exports have been slowing in recent weeks, due to arbitrage constraints because of surging freight rates, S&P Global Platts reports , citing market participants’ expectations Continue Reading
Frackers Bet on New Terminals to Boost Oil Exports
Existing U.S. shipping terminals are already ill-equipped to handle the growing load, because only one can fully accommodate the giant tankers used to ship oil to Asia and Europe. That Continue Reading
A 14-year-long oil spill in the Gulf of Mexico verges on becoming one of the worst in U.S. history
An oil spill that has been quietly leaking millions of barrels into the Gulf of Mexico has gone unplugged for so long that it now verges on becoming one of Continue Reading
Are U.S. Oil Exports Really Unstoppable?
Earlier this year, when U.S. crude oil exports hit a record 2.2 million bpd, the figure was hailed as the beginning of a new era that could eventually see the Continue Reading
U.S. Crude Oil Exports Could Jump To Almost 4 Million Bpd By 2020
U.S. crude oil exports could increase to 3.9 million bpd by 2020, mostly driven by rising production in the Permian, the Houston Chronicle reported on Tuesday, citing a new report Continue Reading
Tankers: Key Persian Gulf-China VLCC freight rate at 2018 high as Iran sanctions loom
Asian benchmark VLCC freight rate hit the year’s high Thursday on the back of impending Iran sanctions, surging bunker prices and a widening WTI-Brent spread, as charterers rushed to fix Continue Reading
U.S. Crude’s Discount to Global Prices Opens Taps to Exports
Cheaper U.S. crude prices make American-produced oil an easier sell in places like Asia, even with the cost of shipping, typically a few dollars a barrel. The price gap also Continue Reading
Booming Texas port objects to Trafigura offshore site
A Texas port handling booming exports of US crude oil has invoked a 12-year-old criminal case against the commodities trading house Trafigura as it seeks to slow its efforts to Continue Reading
Dirty secrets: tainted shipping fuel sparks calls for tighter quality control
A wave of contaminated fuel that has clogged and damaged engines on hundreds of oil tankers and container vessels in the past months has pushed shippers to demand stricter quality Continue Reading
Texas Exports More Oil Than It Imports For First Time Ever
The Texas Gulf Coast oil terminals sent abroad more crude than they received in April, the Energy Information Administration said this week. During that month, crude oil exports from the Continue Reading
Tallgrass proposes Cushing-St. James crude pipeline, offshore VLCC loading project
Tallgrass Energy on Wednesday joined a growing list of midstream companies that plan to directly load US crude onto supertankers by building an offshore pipeline. Receive daily email alerts, subscriber Continue Reading
Houston Firm Plans Huge Oil Export Terminal Offshore Texas
To capitalize on the growing U.S. exports to Asia and Europe, Houston-based Enterprise Products Partners plans to develop an offshore crude oil export terminal off the Texas Gulf Coast that Continue Reading
A Storm Is Brewing For U.S. Oil Exports
On the one hand, the United States is pressing Iran’s oil customers to cut their Iranian crude imports by as much as possible. China is Tehran’s biggest oil buyer, and Continue Reading
U.S. oil sector limited by port infrastructure
Without improvements to port facilities, the U.S. crude oil market could find itself increasingly landlocked, a market analyst said. The Organization of Petroleum Exporting Countries in their monthly market report, Continue Reading
Rise in U.S. exports of jet fuel driven by Latin American and Caribbean countries
U.S. Energy Information Administration, Petroleum Supply Monthly The United States exported 186,000 barrels per day (b/d) of jet fuel in 2017, the eleventh consecutive year of increasing gross jet fuel Continue Reading
U.S. oil exports jump to record 1.76 million bpd in April: Census data
U.S. crude exports surged to a record 1.76 million barrels per day (bpd) in April from 1.67 million bpd in March thanks to the rising discount for U.S. crude versus Continue Reading
Record Oil Exports Help Cut U.S. Trade Gap
The U.S. exported a record amount of oil and fuel in April, helping to narrow the nation’s trade gap while giving the economy a lift. The country shipped $19.9 billion Continue Reading
Distillate fuel oil was the most exported U.S. petroleum product in 2017
U.S. Energy Information Administration, Petroleum Supply Monthly Distillate fuel continued to be the most exported U.S. petroleum product in 2017, averaging 1.4 million barrels per day (b/d) of gross exports. Continue Reading
Wide open arbs help US crudes capture international market share
With spot arbitrages open for multiple US crudes like WTI and Mars in Europe and across Asia, US grades are capturing more market share overseas. * Discounted WTI backing Forties Continue Reading
The Biggest Challenge For U.S. Oil Exports
As Saudi Arabia and Russia grapple with both the geopolitics and economics of continuing or stopping their one and a half year long oil production cut reached between OPEC and Continue Reading
U.S. Oil Exports Eat Into OPEC Market Share In Asia
Increased U.S. crude oil exports to Asia, supported by a wide WTI-Brent spread, are eating into Asian market shares of OPEC and Russia, the cartel’s ally in the production cut Continue Reading