Crude Oil Exports from U.S.

Trump Today: Trump vows U.S. energy sector will come back as he sees Russia-Saudi oil agreement

Trump Today: Trump vows U.S. energy sector will come back as he sees Russia-Saudi oil agreement

Oil & Gas 360 PRwire


Oil & Gas 360 Publishers Note: As we covered on the 360 Digital Closing Bell, President Trump gave a hint about this on his Thursday’s Corona -19 press conference, and then followed through with his

Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

Exclusive 360 Energy Expert Network Video Interview: The Port of Corpus Christi seen trouble before, and is open for business.

The Port of Corpus Christi in the western Gulf of Mexico is one of key components in the life blood for imports and exports in the United States. They the 2nd in tonnage,  and the largest port in revenue in

Source: Houston Chronicle

Report: Crude oil exports soar while U.S. inventory grows slightly

Houston Chronicle


Crude oil production and exports soared during the last week of February while U.S. inventories grew slightly, a new report from the Department of Energy showed.

During the last week of February, the United States produced a record …

S. Korea’s thirst for U.S. crude to keep growing in 2020

S. Korea’s thirst for U.S. crude to keep growing in 2020

Reuters


Oil & Gas 360 Publishers Note: “Light sweet crude contains more naphtha, used in petrochemicals, and also has a lower sulphur content, making it suitable for very low sulphur fuel oil, which has been mandated for shipping since the

Source: Reuters

U.S. shale producers to tap brakes in 2020 after years of rapid growth

Reuters


HOUSTON – Vastly slower U.S. oil growth this year and the prospect of a plateau for the world’s top oil producer have signaled a new and unfamiliar era of self-restraint for the go-go shale industry.

Spending cuts and production …

Source: Houston Chronicle

Oil holds above $60 as U.S. crude stockpiles seen shrinking

Houston Chronicle


Oil held above $60 a barrel before U.S. government data forecast to show that crude stockpiles declined again, mitigating concerns that global markets face a renewed surplus next year.

Futures rose 0.4 percent in New York. American crude …

Source: Reuters

Oil prices rise on Middle East tensions but trade tensions weigh

Reuters


LONDON – Oil edged higher on Wednesday as Iran-related tensions escalated but receding hopes for a quick solution to the U.S.-China trade war which has dented global growth dragged on prices.

West Texas Intermediate crude futures CLc1 traded up …

An oil tanker anchored near Marseille, France, in 2017. An array of factors are coming together to support high tanker earnings. Photo: jean-paul pelissier/Reuters

Crude Exporters Brace for Sustained High Shipping Costs

Wall Street Journal


The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high

Crude oil exporters and users probably should get used to high shipping costs.

The freight-rate roller coaster …

Photo: Enterprise Products Partners

Enterprise Products Partners posts $1 billion profit but misses Wall Street expectations

Houston Chronicle


Houston pipeline operator Enterprise Products Partners reported a $1 billion profit during the third quarter but missed Wall Street revenue expectations amid weaker commodity prices for crude oil, natural gas and natural gas liquids such as ethane, propane …

Source: EIA

The United States now exports crude oil to more destinations than it imports from

Source: EIA


As U.S. crude oil export volumes have increased to an average of 2.8 million barrels per day (b/d) in the first seven months of 2019, the number of destinations (which includes countries, territories, autonomous regions, and other …

Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens

Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens

Reuters:


U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia’s ESPO Blend oil sent buyers back to U.S. grades, according to market …

Oil falls but losses limited by new Brexit deal

Oil falls but losses limited by new Brexit deal

Source: Reuters


LONDON (Reuters) – Oil prices fell on Thursday as industry data showed a larger-than-expected increase in U.S. inventories but losses were limited after Britain and the European Union announced they had reached a deal on Brexit.

Global benchmark …

Source: Eric Gay, STF / Associated Press

Oil trading in U.S. Gulf dries up as tanker rates skyrocket

Source: Houston Chronicle


Soaring oil-tanker costs are drying up activity in the U.S. export market as sellers are slow to lower offers and buyers are skittish, according to market participants.

Some sellers have held back from offering cargoes, while others …

Eagle LNG receives go-ahead for Jacksonville export facility

Eagle LNG receives go-ahead for Jacksonville export facility

Eagle LNG Partners LLC (“Eagle LNG”) announced that the U.S. Federal Energy Regulatory Commission (“FERC”) has issued the order granting authorization for siting and constructing its proposed on-water Jacksonville LNG Export Facility.

Eagle LNG receives go-ahead for Jacksonville export facility - oil & gas 360

The liquefied natural gas (“LNG”) export facility and …

September 23, 2019 - 1:49 pm Closing Bell Story‎, Crude Oil Exports from U.S., LNG
Mt. Astra (Suezmax) Leaving Corpus Christi ship tanker

Like fine whisky, Texan oil exporters tout unblended crude

Source: Reuters –


Decades ago, a distiller in Scotland discovered the marketing power of “single malt” whisky, untouched by blending – a technique now being embraced by sellers of Texas crude oil.

The United States is selling more oil overseas …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Trump Administration Moves to Limit State Powers to Block Pipelines, Terminals

Trump Administration Moves to Limit State Powers to Block Pipelines, Terminals

From Reuters


The U.S. Environmental Protection Agency on Friday unveiled a proposal that would curb state powers to block pipelines and other energy projects, as part of the Trump administration’s effort to boost domestic oil, gas and coal development.

The …

India’s MRPL Buys its First U.S. Thunder Horse Oil

India’s MRPL Buys its First U.S. Thunder Horse Oil

From Reuters


India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said on Friday.

“The price offered was very …

Canadian Crude Gulf Coast Exports Rise as Venezuelan Gap is Filled: Reuters

Canadian Crude Gulf Coast Exports Rise as Venezuelan Gap is Filled: Reuters

From Reuters

HOUSTON (Reuters) – Heavy crudes have poured into the United States this spring, offsetting the loss of Venezuelan oil and producing a mini-surplus, with Canadian heavy crude this month being exported from the U.S. Gulf Coast.

U.S. refiners …

Building Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

Building Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

From Bloomberg


Over two million barrels a day of new pipe capacity planned, Storage capacity at Cushing could reach 100 million barrels

America’s largest oil hub in Cushing, Oklahoma, is growing even as producers and traders look to move surging …

Port of Corpus Christi Begins $380 Million Channel Dig to Add 7 More Feet

Port of Corpus Christi Begins $380 Million Channel Dig to Add 7 More Feet

Port of Corpus Christi Begins $380 Million Channel Dig to Add 7 More Feet

From the Houston Chronicle

The Port of Corpus Christi has started work on $380 million project to deepen and widen its ship channel to allow for …

Export Bonanza: the U.S. Exported 2 Million Barrels per Day of Crude Oil in 2018 to 42 Destinations

Export Bonanza: the U.S. Exported 2 Million Barrels per Day of Crude Oil in 2018 to 42 Destinations

LOOP’s addition of crude export capability stomps the export accelerator 

In 2018, U.S. exports of crude oil rose to 2.0 million barrels per day (b/d), nearly double the 1.2 million b/d rate in 2017, according to new data from …

Ports Jockey for Booming U.S. Crude Oil Export Trade

Ports Jockey for Booming U.S. Crude Oil Export Trade

Texas ports are taking measures to deepen, widen ship channels, expand port capacity; Florida port receives cargo from new Aframax crude tanker
By Bevo Beaven, Editor, Oil & Gas 360

The Texas Gulf Coast is host to two ports working

South Korea Tests U.S. Super Light Oil as Iran Waiver Uncertainty Escalates: Reuters

South Korea Tests U.S. Super Light Oil as Iran Waiver Uncertainty Escalates: Reuters

From Reuters

South Korea has begun testing super-light U.S. oil sold by Anadarko Petroleum Corp as a substitute for Iranian crude while it awaits word from Washington on whether it can keep buying oil from the Middle Eastern nation, sources …

Corpus Christi Harbor Island Terminal Complex Targets Deepest Channel Depth of any Onshore Crude Oil Export Facility in the U.S.

Corpus Christi Harbor Island Terminal Complex Targets Deepest Channel Depth of any Onshore Crude Oil Export Facility in the U.S.

POCC Commission approves 50-year lease with Carlyle Group, Berry Group JV
Crude oil exports are one of the key growth engines that the Port of Corpus Christi is flexing its significant muscle to build up.

Port of Corpus Christi

This

Source: Enterprise Sept. 2013 Presentation

Enterprise to Offer Crude Oil for Export in Second WTI Electronic Auction

Enterprise to Offer Crude Oil for Export

U.S. Gulf Coast Officially Becomes Net Crude Oil Exporter in Late 2018

U.S. Gulf Coast Officially Becomes Net Crude Oil Exporter in Late 2018

Increasing production and mismatch between crude oil type and refinery configuration allows for more of the increasing U.S. crude oil production to be exported
The Gulf Coast is the first region to export more crude oil than it imports since

U.S. Energy Exports Provide Lever in Trade Talks with China: Perry

U.S. Energy Exports Provide Lever in Trade Talks with China: Perry

from Reuters

WASHINGTON – Rapidly expanding exports of U.S. fossil fuels, including liquefied natural gas (LNG), serve as leverage in trade negotiations with China, Energy Secretary Rick Perry said on Monday.

“It’s part of the mix, it may not be …

Texas Gulf Coast: Get Ready for SPOT to Export Up to 2 Million More Barrels a Day of Permian, Eagle Ford Crude Oil

Texas Gulf Coast: Get Ready for SPOT to Export Up to 2 Million More Barrels a Day of Permian, Eagle Ford Crude Oil

Enterprise Products Partners' SPOT crude oil export project, offshore Texas, officially kicks off permitting phase, targets 2020 for exports
By Bevo Beaven, Editor, Oil & Gas 360

The United States Maritime Administration (MARAD) and the United States Coast Guard (USCG)

Energy Experts to Discuss Booming U.S. Petroleum Exports, Development of Shale and Conventional Plays in 2019 and Oil Market Economics at EnerCom Dallas

Energy Experts to Discuss Booming U.S. Petroleum Exports, Development of Shale and Conventional Plays in 2019 and Oil Market Economics at EnerCom Dallas

For the first time in its storied history, West Texas’s Permian Basin will likely surpass a major milestone in March, when its production is forecast to exceed four million daily barrels (4 MMBOPD), according to U.S. Department of Energy projections