Tuesday, September 22, 2020

Devika Krishna Kumar News

Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf

Hurricane Sally (Photo: NOAA)

Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to…

US Energy Exports Severely Disrupted by Hurricane Laura

File photo (Credit: Andrew Kendrick, U.S. Coast Guard)

Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S.

China Ramps up US Oil Purchases Ahead of Trade Deal Review

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U.S. crude oil shipments to China will rise sharply in coming weeks, U.S. traders and shipbrokers and Chinese importers said, as the world’s top economies gear up to review a January deal…

U.S. Sends First Crude Shipment to Saudi Arabia in Years

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The United States sent a shipment of crude to Saudi Arabia in June, data from the U.S. Census Bureau showed on Wednesday, in what appears to be the first such delivery since the U.S. ban…

US Oil Exports to Europe Rebound

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The United States has increased oil supply to Europe in July for the first month since May, making up for output cuts from OPEC+ members, according to traders and Refinitiv Eikon data.U.S.

Flurry of US Crude Export Fixtures Offers Slimmer of Hope

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A flurry of tentative bookings to export U.S. crude oil from the Gulf Coast suggests demand is edging up after the coronavirus slammed energy consumption worldwide.BP, Trafigura and Equinor…

When Oil Became Waste

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A week of turmoil for crude, and more pain to comeThe magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which…

US Crude Futures Plunge to Lowest on Record

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U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude…

Enterprise Offers Crude Shipments From Gulf Coast to Cushing

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Enterprise Products Partners LP said it would offer spot shipments of crude on an existing pipeline from the U.S. Gulf coast to Cushing, Oklahoma, the delivery point for benchmark U.S.

Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal

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Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi…

US Sanctions on Rosneft Trading Shifting Crude Flows

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U.S. sanctions on Russian Rosneft's trading arm will disrupt a slice of global crude flows and may prompt refineries in Europe, India and the United States to shift purchases to other crude suppliers…

Coronavirus Leaves China-bound Tankers Stranded

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The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and…

Oil Prices Climb on Hopes of Deeper OPEC+ Production Cuts

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Oil prices edged higher on Thursday as investors focused on the possibility of deeper supply cuts from the world's biggest producers, whilst largely shrugging off reports which cut demand…

Corpus Christi Crude Exports Boom

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U.S. crude exports from Corpus Christi, Texas, have surged to a record in recent weeks, often surpassing hubs such as Houston and Beaumont, Texas, thanks to faster-than-expected infrastructure…

CME Adds Two Delivery Points to WTI Houston

Photo: CME Group

CME Group on Thursday said it would add two more delivery points for its WTI Houston crude futures contract, pending regulatory review, as it seeks to provide customers with additional…

Oil Jumps 4% on U.S. Stockpiles Drop

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Oil prices surged 4% on Wednesday on expectations that OPEC and allied producers would extend production curbs, and as U.S. government data showed a large drop in domestic crude stockpiles.Brent crude futures were up $2.44…

Energy Transfer: VLCC Offshore Port to be Ready Early 2023

AdobeStock / © Jose Gill

Energy Transfer LP said on Thursday discussions with potential shippers to build an offshore crude export facility in Texas capable of handling supertankers were progressing on schedule…

Keystone Pipeline Still Closed, ND Leak Source Unclear

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The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration…

U.S. Crude Stocks Drop - EIA

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U.S. crude stocks fell last week as refineries hiked output and net imports slid to the lowest on record, while gasoline and distillate inventories declined, the Energy Information Administration…

Oxy Books Supertanker for a Record $13.25 Mln

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Occidental Petroleum Corp provisionally chartered a supertanker to ship U.S. crude to South Korea for a new record of $13.25 million in November, three shipping sources familiar with the…