Wednesday, July 15, 2020

Gulf Coast News

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 have all tentatively fixed vessels this past week to carry U.S.

More Disruption and Uncertainty in Store for Petrochemicals

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The impact of the coronavirus lockdowns on the oil, gas and chemicals industries’ integrated value chains is radically shifting relationships and profitability.It is also making planning virtually impossible, as BASF suggested…

Oil Traders Chase Storage Space in World Awash with Fuel

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Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.Dozens…

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. crude futures, as demand to store oil…

The Numbers Tell the Story of Oil Industry Crisis

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Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.Some idea…

Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever

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China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in…

Trafigura, Phillips 66 to Build Deepwater Texas Oil Port

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Global commodities trader Trafigura said on Friday it had formed a joint venture with U.S. refiner Phillips 66 to build a major deepwater port in Texas capable of handling supertankers, ditching its own competing project.The Bluewater Texas Terminal…

Saudi Aramco Launches Largest Shale Gas Development Outside US

Amin H. Nasser (Photo: Saudi Aramco)

Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters…

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, traders said.The United…

Are OSVs Fit for Refit for Offshore Wind?

BEFORE: Island Clipper: Island Offshore of Ulsteinvik, Norway, has had success with conversions.  “before” and “after”.  Photos: Island Offshore

While it is generally agreed that the nascent offshore wind energy market in the U.S. will be a newbuild market, there is a repair and conversion possibility for some stacked OSVs.Though estimates on the pace of the offshore wind energy market in the U.S.

China Can't Meet Its US Energy Commitments

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The more you delve into the details of China's commitment to buy an additional $52.4 billion in U.S. energy over the next two years, the more it becomes apparent the goal is unachievable, even with the best will in the world.As…

US Refiners Grab HSFO on Back of IMO 2020

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U.S. refiners are scooping up cheap high-sulfur fuel oil for processing from Russia and the Baltic states as they take advantage of new shipping rules that have cut demand for the dirtier marine fuel, according to oil traders and shipping data.U.S.

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 additions.The infrastructure…

Castleton Closes Shell Shale Deal

Image: Castleton Resources

Houston-based Castleton Resources said that its subsidiary Castleton Commodities International LLC (CCI) has closed on the acquisition of the East Texas and North Louisiana Haynesville Shale assets of BG US Production Company LLC, a subsidiary of Royal Dutch Shell plc.

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, with the project expected to be in…

U.S. Refiners Control Gasoline, Diesel Oversupply

File Image: AdobeStock / © Sharrif Chi'lah

U.S. refiners have cut seasonal crude processing sharply since the start of the second quarter, averting a potential oversupply of gasoline and distillates, but worsening the build up of crude stocks.U.S. refiners have processed…

Shell Appoints New Head of Refining

Huibert Vigeveno (Photo: Shell)

Royal Dutch Shell has appointed Huibert Vigeveno to head its downstream businesss, the refining operations that are to become a key pillar for the oil and gas company as it transitions to cleaner energy.Vigeveno, 50, previously…

OP/ED: Offshore Wind

Nicolette Nye, Vice President of Communications and Member Development of the National Ocean Industries Association (NOIA) in Washington, DC.

Set to Soar, Taking Offshore Support Industry With it.Offshore energy development is opening a new front in the United States -- the Atlantic seaboard, with strong winds, a shallow continental shelf and a proximity to dense…

Mitsui, Sempra Energy Sign LNG Deal

Pic: Sempra Energy

North American energy infrastructure company Sempra Energy and Japanese trader Mitsui & Co. have entered into a memorandum of understanding (MOU) under which the latter would take part in the Cameron LNG Phase 2 project in…

ExxonMobil Seeks to Sell Montana Refinery

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Exxon Mobil Corp is seeking a potential buyer for its roughly 60,000 barrel per day Billings, Montana refinery, according to three sources familiar with Exxon’s plans.Representatives for large refiners, including Valero Energy Corp and Marathon Petroleum Corp…