Post Tagged with: "Imports"

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

From Reuters


China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves.

According …

August 8, 2019 - 6:03 am
Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

From Reuters


Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…

August 5, 2019 - 6:02 am
Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

From CNBC


Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.

“While we retain …

August 5, 2019 - 6:01 am
U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

By Tyler Losier, Energy Reporter, Oil & Gas 360

Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive
The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company

July 23, 2019 - 5:32 pm
Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

Millions of Barrels of Iranian Oil Are Piled Up in China’s Ports

From Bloomberg


Iran-owned tankers continue to haul shipments to bonded tanks, oil held by Iran’s state-owned producer and Chinese companies

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude …

July 22, 2019 - 6:15 am
What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

What Energy Security Looks Like: 90% of Natural Gas Used in U.S. Is Produced Domestically

By Tyler Losier, Energy Reporter, Oil & Gas 360


The United States has been a net exporter of natural gas since 2017

In the United States, natural gas is one of the most prevalent sources of energy, and according to

July 10, 2019 - 4:46 pm
Source: Islamic Republic News Agency

Oil Spikes After ‘Suspicious’ Tanker Attacks in Middle East

By Tyler Losier, Energy Reporter, Oil & Gas 360

Two vessels seriously damaged after seemingly intentional strike
Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as

June 13, 2019 - 5:00 pm
Source: EIA

U.S. Gulf Coast Crude Oil Imports at Lowest Level Since 1986

Domestic production has reduced imports approximately 83% since peak
As of March of this year, the EIA estimates that the United States Gulf Coast imports approximately 1.8 million barrels of crude oil per day (BOPD), the lowest recorded rate since

June 7, 2019 - 5:34 pm
EU Plans Sharp Hike in U.S. Energy Imports as Trade Lever

EU Plans Sharp Hike in U.S. Energy Imports as Trade Lever

From Reuters

The European Union will seek to double imports of liquefied natural gas (LNG) from the United States by 2023, as part of its efforts to ease transatlantic trade tensions and reduce its reliance on Russian gas.

U.S. Energy …

May 2, 2019 - 5:17 pm
China Slams Brakes on U.S. Crude Oil Imports

China Slams Brakes on U.S. Crude Oil Imports

From Bloomberg

First time Asian nation didn’t import from U.S. since 2016: refiners still worried about U.S. crude import tariff

Even though Beijing hasn’t sanctioned American oil imports yet, Chinese buyers aren’t taking any chances.

The world’s second largest economy …

October 9, 2018 - 12:11 pm
China Customs Says Nation Imported 4.71 Million Tonnes of LNG in August – Up 51% Year over Year

China Customs Says Nation Imported 4.71 Million Tonnes of LNG in August – Up 51% Year over Year

On track to become world’s largest LNG user – surpassing Japan

From: Xinhua

BEIJING, Sept. 23 (Xinhua) — China imported 4.71 million tonnes of liquefied natural gas (LNG) in August, up 51.5 percent year on year, the country’s customs authority …

September 24, 2018 - 10:56 am
Africa’s Largest non-OPEC Producer is on a Roll

Africa’s Largest non-OPEC Producer is on a Roll

Egypt is the largest non-OPEC oil producer in Africa and the third-largest dry natural gas producer on the continent, according to the EIA’s newest report on Egypt. In recent years, the country has seen political instability accompanied by growing power …

May 31, 2018 - 3:42 pm
Trans-Alaska oil pipeline

A Minimum of 5.7 Billion Barrels Await Drillers at ANWR

The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% …

May 30, 2018 - 4:45 pm
Inventories Back at Five-Year Averages—for Now

Inventories Back at Five-Year Averages—for Now

The production cuts may have erased the surplus, but for how long?

Stored petroleum around the world fell through 2017 and the first quarter of 2018, ending a period of oversupply in the global market that began before OPEC began …

May 30, 2018 - 4:17 pm
Canada’s Energy Sector Faces Rough Waters

Canada’s Energy Sector Faces Rough Waters

Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer

 

With U.S. shale on a tear, imports are dropping

Total U.S. crude production reached 10 MMBOPD in November 2017 and …

April 13, 2018 - 6:55 am
Halliburton Nisku, Alberta Canada
Victor Gribansiciy
November 2006

American Energy Imports Lowest Since 1982

U.S. continues to import less while exporting more

Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and …

March 28, 2018 - 4:33 pm
Liquefied Natural Gas Plant, Australia

U.S. Crude Oil, NatGas Exports Both Hit New Highs

U.S. crude oil exports grew to an average of 1.1 MMBOPD in 2017, the EIA said, which is the second full year since restrictions on crude oil exports were removed. Crude oil exports in 2017 were nearly double the level …

March 20, 2018 - 5:44 pm
Oil Production Diving, Inflation Climbing Fast: Venezuelans Squeezed

Oil Production Diving, Inflation Climbing Fast: Venezuelans Squeezed

Venezuela’s citizens are left holding a bag, one that is saddled with $60 billion dollars worth of debt.

Citizens of Venezuela have been buying into bonds due to government policies of subsidizing the purchase of foreign debt by individual investors, …

March 14, 2018 - 5:29 pm
Trade Shift: United States Exports More Energy Products to Mexico

Trade Shift: United States Exports More Energy Products to Mexico

In the past three years, the U.S. has exported more energy products to Mexico than it imports. That’s a reversal from just a few years ago.

Historically, energy trading between Mexico and the U.S. was characterized by Mexican sales of …

March 14, 2018 - 4:24 pm
Image: Oil & Gas 360

100 Million Barrels of Strategic Oil Reserves to be Sold

Recent U.S. legislation has directed the sale of more than 100 million barrels of oil from the Strategic Petroleum Reserve (SPR) in government fiscal years 2022 through 2027.

Based on legislated sales established in multiple acts of Congress, the SPR …

February 26, 2018 - 2:05 pm
China Continues Transition to NatGas, Ranks Second in LNG Imports

China Continues Transition to NatGas, Ranks Second in LNG Imports

In 2017 China surpassed South Korea to become the world’s second-largest importer of LNG, according to data from IHS Markit and official Chinese government statistics, the EIA said. Driven by government policies designed to reduce air pollution, LNG imports increased …

February 23, 2018 - 3:31 pm
US Net Energy Trade (1990-2050)

United States Powers Up Commodities Exports in 2022

The United States will become a net energy exporter in 2022, according to the newly released Annual Energy Outlook 2018 (AEO2018) Reference case from the EIA.

The cause? EIA says changes in the petroleum and natural gas market are driving …

February 12, 2018 - 5:50 pm
Source: Nord Stream AG

Nord Stream Gas Pipeline Sends 51 Bcm to EU

The Nord Stream Pipeline delivered 51 billion cubic meters (Bcm) of natural gas to consumers in the European Union in 2017.

This means that the pipeline system operated at 93% of its annual design capacity of 55 Bcm. This is …

January 17, 2018 - 5:06 pm
Kuwait Petroleum and Shell Sign 15-Year Agreement

Kuwait Petroleum and Shell Sign 15-Year Agreement

Royal Dutch Shell plc (ticker: RDS.A) and Kuwait Petroleum Corp. have signed an LNG contract that secures Kuwait’s domestic energy needs for the next 15 years.

A private source told Bloomberg that the contract will cover 2-3 million metric tons …

December 27, 2017 - 5:03 pm
China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China on a tear to expand domestic gas output and diversify its natural gas imports

China’s quest for natural gas

“China supports domestic enterprises to increase natural gas output and at the same time to diversify imports of the resource,” …

December 8, 2017 - 2:59 pm
All-Time High for U.S. Crude Exports

All-Time High for U.S. Crude Exports

Widening spread incentivizes marketers to export abroad: Fed

U.S. crude oil exports went from 1.29 MMBOPD in Sept. to 1.78 MMBOPD in Oct., an all-time high according to the Federal Reserve Bank of Dallas.

The crude oil export ban was …

November 17, 2017 - 5:51 pm
U.S. Coal Finds Market in Europe, Gas Too

U.S. Coal Finds Market in Europe, Gas Too

U.S. responsible for 40% of the world’s new gas production by 2022: IEA

A report by the EIA indicated that coal exports—for both steam coal, used for power generation, and metallurgical coal, used for refining steel—have increased by 58% from …

July 19, 2017 - 4:35 pm
Expect Higher Crude Oil Exports to European, Asian Markets:  WoodMac

Expect Higher Crude Oil Exports to European, Asian Markets:  WoodMac

In its appearance at EIA’s annual Energy Conference last week, Wood Mackenzie gave a presentation on crude oil exports, saying that U.S. crude oil exports rose in tandem with U.S. oil production following the repeal of the U.S.’s 40-year crude …

July 6, 2017 - 5:21 pm
Saudi Arabia Now Targeting U.S. Data to Boost Prices

Saudi Arabia Now Targeting U.S. Data to Boost Prices

As production cuts fail to raise prices further, Saudi Arabia looks to influence U.S. data to strengthen commodity prices

Crude oil prices hit a five-week low Wednesday as OPEC production rose and U.S. inventories showed smaller than expected draws. OPEC …

June 15, 2017 - 1:22 pm
China Lowers Export Quotas 40% for Majors

China Lowers Export Quotas 40% for Majors

Larger quotas expected later in 2017

China will cut its export quotas to the country’s oil majors by 40% in the first round of licenses for 2017, reports Reuters, even as traders expect allowances for overseas sales to meet …

December 29, 2016 - 5:34 pm